Wednesday, March 12, 2014
An emerging real estate business trend in the Philippines, the build-and-sell property market can be profitable and fulfilling. The rise in real estate demands has created markets not only for major developers but also for small builders. However, operating a successful build-and-sell business is not as easy as it seems. Read on...
Knowledge of the area
Location, location, location - this is what is often said to be the most important in any real estate investment. The same is true for a build-and-sell business. As a property buyer, know which location is in demand and within your budget. Before you buy a property, research on the surrounding neighborhood. Are there schools and commercial areas in the vicinity? How much are other homes selling for in the area? What type of households would be your target market for the property?
Build for the market
Determine which market you want to target. Young professionals would prefer a convenient location in a hip neighborhood and would not require as much space. Meanwhile, growing families may need more space, perhaps in the form of a townhouse with several parking spaces. Make sure your location, type of home and market all coincide to be able to make successful sales later on.
A reliable team
A build-and-sell project is a big undertaking you can’t possibly accomplish on your own - you need to hire professional workers. It is best to hire qualified people for specific jobs, for instance, an architect would most probably be better at designing a property's structure and exteriors than its interiors. Hire people for what they are good at and qualified to do. Establishing a reliable team is instrumental to delivering a quality project on time.