Bonus Update - Site Analysis - Bonus Update
Summary
Evaluating a Development Site β The video discusses the process of analyzing a potential property development site, from basic measurements to feasibility studies.
Using Google Maps for Initial Analysis β Measuring site dimensions using Google Maps to determine the feasibility of development.
Site Dimensions & Density β How depth, width, and total area impact development potential.
Feasibility Study Using Smart Feasibility Calculator β Assessing site viability using development software for cost and return estimations.
Architectβs Initial Design Approach β The process of working with architects on design schematics and layouts.
Adjusting Plans to Meet Council Regulations β How zoning laws and council feedback impact project approvals.
Due Diligence in Real Estate β Conducting in-depth site analysis, including zoning, overlays, and legal considerations.
Project Profitability Analysis β Understanding development costs, potential sales prices, and profit margins.
Understanding Developer Contributions β Costs imposed by councils for infrastructure and sewer upgrades.
Common Challenges in Development β Parking requirements, setbacks, legal discharge points, and site access constraints.
Insights Based on Numbers
Minimum Site Depth for Development β A depth of at least 50 meters is ideal for townhouse projects.
Optimal Site Width β At least 16-18 meters, though 15 meters may still be viable.
Feasibility Calculation Results β Estimated sales price per unit: $580,000, total estimated profit: $400,000.
Parking Standards β Minimum 1 car park per 2-bedroom unit, visitor parking required.
Construction & Infrastructure Impact β Council regulations can increase costs by $45,000+ for stormwater adjustments.
Property Valuation Comparisons β Developer calculations vs. lender appraisals: $650,000 vs. $665,000, demonstrating a conservative estimate approach.