1730 Park Street, Suite 117,
Naperville, IL 60563

Call Us Today for an Initial Consultation

630-778-3818

Real Estate Development: Top Strategies Employed by Savvy Investors

 Posted on December 00,0000 in Residential Real Estate

real estate development, Naperville real estate lawyersEven though the U.S. is well on its way to recovering from the recession, there are still investors who fail in the real estate development market. In contrast, there are those who consistently make money, despite any changes or fluctuations. The following strategies, employed by the savviest of investors, are often key in giving the latter their edge over the former.

Study and Know Local Pricing

Studying and knowing your local market is an invaluable strategy in real estate development and investment. Not only do you learn which prices are fair (which can assist in finding the best prices), you are also able to better stay ahead of the trends. Take, for example, an area in which home sales are accelerating at a faster rate than its neighboring towns or subdivisions; this can tip you off to areas that are currently in high demand.

Know How to Spot a Catalyst

A catalyst is anything that could quickly and drastically increase the valuation of a home or area. This could be an upcoming or new infrastructure, such as a new school, a shopping mall, an outlet store, or other point of interest. They are typically easy to spot. Just look for posted signs, land clearings, expanding roads, new traffic lights, new turnarounds, or the start of new construction. It is also worth mentioning that already placed structures, such as lakes and parks, also increase the valuation of an area by as much as 10 percent. (This applies to commercial real estate as well as residential.)

Check School Rankings

When dealing in real estate, it is important to consider more than just the development of the land itself; you must also consider the lifestyle of the local residents. Schools typically pay a very big role in that lifestyle, especially in areas where homes are more tailored to families. As such, the research of school rankings can help to tip you off to areas that may be up-and-coming or in high demand. Look specifically for top schools or schools that are moving higher up on the list.

Remember to Watch the Outskirts

Real estate prices in cities can often become too crippling for families. When this happens, they often look to the outskirts, and so you should as well. Again, check for any developing areas, but also look for areas that might be close to bus lines or rail lines. Even better, find a newly erected route just outside of the city.

Need Help Getting Started in Real Estate Development?

The real estate market is changing, and that makes it a great time for breakthrough real estate developers and investors. However, it is crucial that you have the right guidance before jumping in. At Lindell & Tessitore, P.C., we offer invaluable experience and personalized representation that can assist you in even the most complex legal matters. Our knowledgeable Naperville, Illinois real estate attorneys are ready to speak with you. Call us at 630-778-3818 today.

Sources:

http://www.investopedia.com/articles/pf/07/five-real-estate-tricks.asp http://www.chron.com/business/real-estate/article/Real-estate-near-parks-deliver-higher-values-6625820.php

Share this post:
Back to Top