There are many ways to profit from land ownership, but one of the most reliable and potentially lucrative ways is by subdividing your land into plots for residential housing developments. A large plot of disused, undeveloped land picked up for a few thousand dollars can be turned into a development of suburban properties worth millions -- but only if you choose land that's right for the job.
To get the most profit possible from your subdivision project, you should make sure that the land you choose is well suited for building residential properties. This involves catering to the needs of both your builders and local council authorities, so keep an eye out for the following qualities when assessing land for purchase and land subdivision.
As a general rule, local councils will not approve subdivision plans if the plot of land chosen is not large enough to create significantly sized subdivisions. This means that you should choose a plot of land which can be used to accommodate several homes, each with a suitable sized plot of land to adhere to local guidelines regarding garden space and land drainage.
Sufficient driveway space
In addition to rejecting subdivision plans for small land plots, councils are also liable to reject subdivision plans that place homes too close to roads and other thoroughfares. To pass muster, your subdivision homes should each have enough space between curb and house to accommodate a standard-sized driveway; larger spaces may be required for apartment complexes, as you may need to construct addition off-road parking to support residents.
Developed kerbs, pavements and guttering
If you intend to divide your plot into a number of road-facing properties, making sure the road is already furnished with proper drainage guttering, kerbs and pavements can save you a lot of time and money. If these facilities are absent, local authorities may require you to construct them in order for your properties to meet local building requirements; these structures can be remarkably expensive to construct, especially if you need to close or restrict access to public roads to complete them.
Suitable zoning restrictions
Having a plot of land rezoned for different types of development can be difficult and extremely expensive, with no guarantee of your submitted plans being accepted. Ideally, you should therefore opt for a plot of land that is zoned correctly for the developments you intend to construct; high-density residential zoning if you intend to construct an apartment block, medium-density residential zoning if you intend to construct a series of detached or semi-detached houses, and so on.