If you’re in the residential home development market, then you’re noticing a handful of developers consistently coming out on top; it’s always the same three or four. They find land, make a plan, develop the land, and then sell it off making a mint. How do they do it? What’s the secret to their success?
In this post, Claystone Construction will share with you four tips on how residential land developers can be more successful at their profession. As excavation, grading, and reclamation experts in Colorado, we service the entire Front Range, including Denver, and we’ve worked with hundreds of developers, soaking up as much knowledge as possible. Here’s what we’ve learned:
Four Residential Land Development Tips
If you want to create a more successful residential subdivision in Denver, then you need to set a high standard, maximize potential, identify opportunities, and reap the benefits of your project. Here are the four tips in more depth:
Tip #1 – Set a high standard for the entire project
It can be frustrating to start a residential development project and not all your subcontractors are on the same page when it comes to quality. Yes, they’re professionals, but you need to set a high standard before anyone starts their responsibilities. You expect more. You’re taking a large risk here, and you want your investment to succeed. Furthermore, if you’re answering to investors, you definitely need this project to succeed. Set high standards, and get the project done right the first time.
How do you know where to set your standards? Ask what the consumer expects, and then exceed those expectations. You may be developing for a specific price/income range, but going that extra mile in attention-to-detail does matter.
Tip#2 – Maximize subdivision potential
The first area of improvement is the residential subdivision layout. Early development must meet a myriad of objectives, and it’s imperative you get the layout just right to maximize every ounce of potential in the land you’re developing. In most cases, developers cram houses into a lot, thinking: more houses more money. For the most part, this can be confirmed on paper, but will your house buyer purchase homes with smaller lots, closer neighbors, and a “crammed” neighborhood? Probably not.
Consider new design techniques to lessen infrastructure while still meeting early development objectives. Give the consumer what they want: a large yard, more space, and a less “cramped” feeling.
Tip #3 – Identify space opportunities
It’s relatively common knowledge that corner lots are more expensive to construct, sell last, and usually carry a lower price tag. For this reason, find opportunities in your residential land development to cut out corner lots, reduce unnecessary intersections, and stretch the setback lines for each individual lot. All of this adjustments will be taking advantage of simple opportunities to get more houses in the subdivision, remedy the “cramped” feeling, and reduce/eliminate corner lots.
Tip #4 – Successful land development benefits
The three tips prior to this one give you ideas on how to better maximize residential subdivision development. Once you put these tips into place, you’ll begin to see how you can reap the benefits of efficient, effective land development. As budgetary constraints tighten across the market, you need to take any market advantage you can get. Furthermore, when you set a high standard, enhance layout design, and maximize space opportunities, the up front costs of the development project are reduced. A great metric for these tips are as follows:
- Decrease neighborhood maintenance life-cycle
- Increase lot number, which lead to a greater tax base valuation
Your Excavation Contractor in Denver
Before you being your residential development project, put together a plan. A primary focal point should be on those moving into the homes you will soon have developed. What do they want? What makes their lives easier? How can you save them money, now, before you even break ground? Today’s’ successful site developers start with the homeowner in mind. They want to create a sense of community.
Are you starting a subdivision development project? Give Claystone Construction a call for all your excavation, grading, and reclamation needs. We’ve been serving Denver, the surrounding areas, and all of Colorado for years, and we’re ready to help you.