Hello everyone, I'n my spare time i like to create web applications, it is a hobby of mine and i've been trying to find a free tool myself ( but no luck ) to plug in the numbers of a property ( land area , development costs per sqm , da fees, zoning etc etc ) to see whether it has development potential and to check say 20 different scenarios ( industial units, duplex, granny flat etc ) and show to guesstimated returns based on market sales data and expected costs. Is this something you guys would find helpful and can you think of any other features that you would like to see in this. Cheers
On what basis will you do the numbers? IRR, NPV or cash? Check out Norman Harker's work in this field done on Excel.
Hi Scott, I was thinking ill get the avg prices for the area or allow the user to put expected sales price... something along those lines i haven't fully thought it through yet. Thanks
I'm working on something that lets you search all parcels of land (on or off-market) that meets criteria such as land size, frontage, FSR, height limit, heritage status (or lack of), etc. I was gonna mix in other data such as market results, demographics, as well. Sorta like if "I want to do x development, find me the land that meets these basic criteria". Happy to chat or collaborate further if you guys need any help with sourcing data, etc.
Beware of the trap of thinking site x, in zone y has the development capacity of z number of units/townhouses/apartments per sqm. Plug and plays won't allow for the discretion involved in the planning process and site constraints. It'll give you a decent idea but you should really be talking to a good planner and architect for those sorts of numbers.