When designing any type of housing, it is important to consider several general principles to execute your project effectively. Especially when it comes to townhouse development in Victoria.
Whether you’re an amateur or an experienced professional, it’s common to feel lost in your townhouse development plans and projects from time to time. However, some key principles form the basis of every great property development strategy.
To explain the whole process from an expert’s point of view, we will share 8 key principles you should adhere to for successful townhouse development in Victoria or any other state.
So let’s get straight into it!
Townhouse Development Principles
1 . Planning
Planning your every step is the most significant factor in determining a successful townhouse development. Whether conducting market research, surveys, design research, or planning regulations research, you must prioritise planning over expense.
How to gain professional insights for FREE, no strings attached
Unsure about your next building project? Get expert advice, no strings attached! Take advantage of our FREE consultation at SQM Architects. We’re here to answer your queries and bring clarity to your vision. With our transparent process and reputable track record, your project is in capable hands.
Surveys, studies, and research will allow you to make an informed decision at every stage of your townhouse development. We always advise our clients to stick to this one principle for every project unconditionally because thorough planning lays the foundation of every successful townhouse.
2. Feasibility
If you neglect to evaluate your site’s value and its design practicality, you’ll essentially be setting yourself up for failure or an utter disaster. That’s why feasibility is crucial to any townhouse development plans.
Feasibility studies allow you to determine the risk possibility and whether it’s worth taking. In fact, a comprehensive feasibility helps distinguish real opportunities from investments that would most likely fail or are simply bad investments.
Now, a half-baked study just for the sake of satisfaction will do more harm than good. If you’re about to invest in a property development venture, you must know how experts bring years of experience and state-of-the-art consultation, which should never be compromised.
3. Efficiency
Organising and completing your project right the first time is important to save your townhouse building costs and loss during construction. The key is making efficient townhouse development plans and designs and implementing them even better.
Sticking to the first two principles will naturally make your townhouse development more efficient in terms of cost, time, and effort. Another tip here is to consult the council before filling in paperwork to understand your site’s expectations.
4. Quality
The better your townhouse stands, the more profit it brings you. Do not hesitate to invest in higher quality products and professional services because they’re bound to come back to you tenfold shortly.
There are always better ways to save on expenditure, like utilising space better, using high-quality material from a local vendor, and recognising opportunities hidden in the land and location you’re about to build on.
5. Timing
Know the market and economy before choosing to build a townhouse. Timing to build and sell is crucial to make your townhouse development a profitable venture.
Property development is similar to stock investments when it comes to analysis. Make sure you time your investment according to the market economy and stay in touch with relevant information weeks before you buy a land or start your development.
6. Finance
Rather than depending on rough estimates, planning your budget and securing finance is also important in a townhouse development. A feasibility study offers you a different perspective on expense and profit. Know your financial options and limitations before going all-in for a townhouse development project.
7. Target
Applying zoning, demographics, and neighborhood research ensures that you’re planning your townhouse for the right people you wish to target or fit in with your surroundings enough to attract tenants or buyers in the future.
8. Unique selling point
Think carefully about your USP and ensure your townhouse design is unique and aesthetically appealing to attract more interested buyers. Although sticking to regulations and conventions is important, planning for the future to keep your property value high is also necessary as a property developer.
Know How These Principles Work In Action
These 8 principles are the essence of our years of experience consulting, designing, and building some of the best townhouse developments in Victoria. While knowing them will be a game-changer for you in property development, sticking to these principles can be tough.
If you want to learn more about how townhouse development in Melbourne works, Consult our experts and find out how you can succeed in your next townhouse development!
How to gain professional insights for FREE, no strings attached
Unsure about your next building project? Get expert advice, no strings attached! Take advantage of our FREE consultation at SQM Architects. We’re here to answer your queries and bring clarity to your vision. With our transparent process and reputable track record, your project is in capable hands.
About the Author
Sammi Lian, the founder of SQM Architects, has dedicated over 15 years of her career to the architectural industry. She works diligently with property developers, builders, investors, and homeowners, using her skills and knowledge to facilitate their building design needs.
