How do I know if my property has development potential?

Quick Answer

One of the questions I'm asked quite often is,

"Do you think my property could be developed?"

The honest answer is... maybe.

You don't need to own acres of land or a corner block for a property to have development potential. Sometimes it's obvious, and sometimes it's the things you can't see that make all the difference.

That's why it's important not to make assumptions before you've looked at the bigger picture.

Every property is different

I've walked through properties where the owners had no idea their land had development potential.

I've also seen people convinced their property could be subdivided, only to discover there were restrictions that made it much more difficult than they expected.

Every property has its own opportunities and challenges.

The trick is understanding what they are before you make any big decisions.

What I look at

When I'm assessing whether a property has development potential, I'm not just looking at the size of the block.

I'm looking at the whole picture.

Some of the things I consider include:

• The zoning and planning controls.

• The size and shape of the land.

• Access to the property.

• Easements or other restrictions.

• The slope of the land.

• Existing services such as sewer and stormwater.

• Whether the improvements already on the property add value or are likely to be removed.

• What buyers and developers are currently looking for in the area.

Sometimes it's one small detail that makes all the difference.

I've seen this happen...

One of the biggest surprises for many owners is discovering their property is worth more because of the land than the house sitting on it.

On the other hand, I've also seen people spend money renovating a home when the land itself was the real opportunity.

That's why I think it's worth understanding the property's potential before deciding what to do next.

What if I'm not ready to sell?

You don't need to be thinking about selling tomorrow to find out more about your property's potential.

Many people are simply curious.

They're planning ahead.

Or they're wondering what options they might have in a few years' time.

There's absolutely nothing wrong with asking questions before you're ready to make a decision.

How I look at it

One of the things I enjoy most is helping people understand possibilities they may never have considered.

Sometimes that means confirming there's genuine development potential.

Sometimes it means discovering that selling the property as a family home is actually the better option.

Either way, I'd much rather help you understand your options before you spend money or make a decision you'll later regret.

Cheryl's Tip

Don't assume a neighbour's property tells you what's possible with yours.

Even properties next door to each other can have different planning controls, easements or constraints that affect what can be done.

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