A new residential development is on the rise in Katy, and prices for the proposed Perry Homes’ housing units in Sunterra community will start from about $410,000, according to Houston Chronicle. The developer reveals that the construction of 50-foot and 60-foot homes began in December, and the opening dates will likely begin in mid-2022. The new housing units will cover 1,900 to over 3,500 square feet and feature at least three bathrooms and four bedrooms.
The 50-foot units, for instance, will have an open kitchen flowing into the living room, three bathrooms, four bedrooms, and a formal dining room. In addition to four bedrooms, the 60-foot models will have three and a half bathrooms, a family room that features a wall of windows and fireplace, an oversized media room, and a contemporary dining room. The community will also feature an Amenity Village and a Crystal Clear Lagoon, covering 3.5 acres. Land development is an excellent way of building wealth, but the process can be complex. To be successful, you need to educate yourself about how urban planning works, real estate market economics, the construction process, and marketing. Read on to understand the key stages of land development.
Pre-development
Whether you intend to build residential homes or commercial properties, make sure you evaluate the logistics of your development project before anything else. Failure to do so can result in financial miscalculations, abandoned projects, and legal issues. When you thoroughly assess all aspects of the land pre-development phase, you can rest assured you have overcome the most significant obstacle of land development. During the pre-development stage, key factors to consider are the economic feasibility of your project, site selection, property assessment, and development planning. You must also apply for zoning permits to ensure your property development plans meet the local county’s building codes.
Construction
It’s easy to assume that this stage is all about building structures. However, there are many activities involved in construction, including land excavation, clearing, and grading for roads and utilities. Preparing the construction site is essential for building a solid foundation and retaining the original design of your project. With this in mind, make sure your construction site is clear of bushes, unwanted trees, and tree stumps. To achieve the best results, consider hiring a land clearing company that offers stump grinding service as part of their services package. Stump grinding involves using heavy machinery to shred stumps into small wood chips, thus protecting your landscape from any damage. Once the site is clear of any obstacles, constructors can start building the property from the ground up.
Post Development
After completing the construction stage successfully, you need to decide what to do with it. At this point, you can choose to sell the developed property or hold on to it as a long-term investment. Many property developers choose to hold on to their completed development for various reasons. Typically, developed properties yield a high return on investment through rental income. You also enjoy great financing options to refinance your property at a higher value while enjoying robust capital growth.
Land development guarantees a high return on investment, but the process can be daunting. If you wish to become a successful property or land developer, learn every aspect of land development. As a general rule of thumb, familiarize yourself with zoning laws, evaluate your project’s economic feasibility, look for a good location, and understand the construction process.