After we find a development site for our client, one of the most important processes is to negotiate not only the purchase price, but the terms of the purchase.

Terms are the conditions you want to use when purchasing the property - and using terms can help put you in a powerful negotiating position.

Whilst there has been so much commentary this week on the Federal Budget, I thought we could talk about a different type of Budget - one that’s just as important to property developers as the Budget is to the politicians. Budgeting well for your building or construction works is crucial to the success (or not) of your development.

Whilst property developing is mostly all about numbers, if you don’t have the right mindset then you may find it hard to succeed. This goes for most things in life really.

The building estimate you start with will nearly always be different to the one you end with. When pricing a development, it is important to know that your building estimate is an organic creature.

Today I met with two of my lovely clients to celebrate the completion of their dual occupancy project.  Friends Karen and Katie decided to do a joint venture (JV) with the goal of each ending up with a villa after subdivision.

We receive lots of calls from property investors wanting to talk to us about developing. During our initial chat we discuss their goals and achievements to date with property. Usually we find that most people have at least one investment property, some have several. Some have built a house before but most haven’t. Then we discuss what property developing is like as an experience to see if they think it may suit them.

A fairly simple development strategy for a first time developer wanting to boost their property portfolio is a dual occupancy project.

Housing diversity in property development in response to changes in the housing market driven by demographics, affordability and lifestyle trends.

The Australian Property Institute publish a 395 page long document on valuation standards. That's how complicated the valuation process can be.