A study by the University of Florida revealed that the percentage of developed land in Central Florida would increase from 25.85% (2.7 million acres) to 48.3% (5.1 million acres) by 2070, according to Pensacola News Journal. Investing resources in the land development process is a complicated strategy that’s best left to experts. However, new property investors shouldn’t avoid it altogether.
There are opportunities in real estate anyone can tap into and become successful. To get high ROI, conduct thorough research about long-term real estate investment strategies and prepare to indulge in plenty of work. Below are some basics you should know about property and land development processes in Central Florida.
Property Zoning
After purchasing a piece of land and outlining its economic feasibility in terms of return on investment, familiarize yourself with the region’s property zoning laws. Ideally, zoning defines what type of property you can build on the land. It also plays a critical factor in how you proceed with your property development plans. Depending on the local zoning laws, you may or may not construct commercial property, condominiums, single-family, or multi-family housing units. Ensure you understand every aspect of zoning to avoid financial and legal implications for not following the right rules.
Site Clearing and Excavation
Land and property development in Central Florida entails a lot of groundwork, including land clearing, excavating, grading, and paving. Preparing the building site first is essential for a solid foundation. Raising any structure on unfriendly lots will ruin the initial property design and hinder building permits.
Therefore, make an effort to find the most reliable land clearing services in Florida. The right service provider will guarantee safety and efficiency during demolitions, tree removal, and excavation of underground infrastructure and other elements that may derail construction.
Construction For Housing Units
Once you’ve obtained building permits and cleared your site, the next step is construction. But before contractors can begin constructing housing units from the ground up, you should focus on horizontal construction. This step entails grading for utilities, roads, and curbs. After completing the grading work, you can start building property based on the designs approved by local authorities.
Property and land development can take years to progress. It is best to research what to expect in the real estate market before investing in any land. That way, you can identify areas with the potential for a high return on investment within a short period. Most importantly, understand the zoning laws, site clearing requirements, construction techniques, and marketing.