How Town Planners Can Add Value to Your Property

1. How Town Planners Can Add Value to Your Property Investors are always on the lookout for the next big thing, especially when it comes to real estate. They examine rental yields, market growth, and economic indicators. However, there's a world of opportunities beyond these parameters. How, you may ask? By tapping into the town planning potential. Town planning is a complex network of policies, regulations, and community needs. It's important to understand that this complexity often translates to opportunity. The Crucial Role of Town Planning in Real Estate Investment For people who buy land, it's important to find assets that are likely to go up in value. One important step is to understand the local planning rules for each property. These rules are not just documents but blueprints for town planning and architecture specifying how land and buildings can be used and developed. If you don't follow these rules, you could miss opportunities to make money or even lose value from your property. Overlooking town planning can have unintended consequences for investment properties. Heritage protections may limit renovations, making it hard to make planned improvements. Even well-intentioned renovation plans for sustainable residential development design can be stopped by slow approval processes and unclear rules. These problems can make it hard to resell the property later because potential buyers often prefer to avoid dealing with complex renovations and planning restrictions. Identifying Properties with Untapped Town Planning Potential Sometimes, the value of a property lies not in what you see but in what the town planners see. The value of a property is not just about its four walls but also its surroundings. Town planners can spot areas poised for growth and strategise development accordingly. ● Infrastructure Development Town planners play a crucial role in shaping the infrastructure of a city. They are responsible for developing and implementing transportation networks, sewage systems, and utility plans. By improving and maintaining such facilities, town planners attract more businesses and residents to an area, increasing its desirability and property value. ● Land Use Planning One key area where town planners can add value is land use for joint ventures. They work collaboratively on development proposals for your land, strategically allocating it for different

2. purposes, such as residential, commercial, and recreational areas. By creating a well-balanced and functional urban landscape, town planners contribute ways to increase property values due to the convenience and attractiveness of the area. ● Zoning Upgrades Zoning is like the DNA of a property, dictating what it can become. Upgrading from, say, residential low density to medium density could significantly raise property value, enabling the construction of more units or more significant developments without changing the land's physical shape. Investors who find out the zoning of property and keep a pulse on these changes can act swiftly and create significant value for their portfolios. The challenge here lies in staying informed and being proactive about potential changes in the council's agenda. ● Development Bonuses Development incentives are the proverbial pot of gold at the end of the regulations rainbow. Many local governments offer bonuses for developments that align with specific policies, such as affordable housing initiatives, allowing for more significant and valuable projects. ● Subdivision and Unit Development Consider a single house on a block of land. Now, envision two or three houses or a small apartment building. An older home may have the potential for extensions to be converted into multi-dwelling house plans. This is the magic of subdivision and unit development. It's about utilising the space efficiently to increase the potential market and maximise land use. Strategic town planning can help navigate this process's intricacies and unlock substantial value. Town planning is often overlooked as an investment factor, yet it can greatly impact the potential of your real estate portfolio. By embracing its complexities and harnessing the value it can add, you join the ranks of investors who don't just follow trends but master the environment in which those trends occur. When you integrate town planning into your investment strategy, you're not just adapting to change; you're expertly influencing the course of your investments for the better. In the real estate game, those who win see the potential while others don't. They find creative pathways to unlock value. They see challenges as chances. By infusing your investment strategy with the insights shared here, you are investing not only in buildings but also in a vision of what they can become.