The actual media is currently full of real-estate ‘doom and gloom’ — real estate repossessions and debts are up and property prices are down… the almost as if the ‘sky is about to fall’! This case has seen many real estate property developers, and property traders generally, leave the market : and for those thinking of beginning real estate development, these are frightening times indeed.
What appears like the worst time to enter into real estate development can, in fact, be the best time. Successful real estate investment developers today realize that useful to them time to their advantage rapid their real estate development tasks will typically not be expecting sale or rent for just two to 4 years through inception. So if they have purchased well, they are less likely to become affected by the economic situation during the time of purchasing their real estate advancement site. In fact , a weakened market is a real estate developer’s heaven, because a weak market is the buyer’s market, and one from the first steps to any real-estate development project is obtaining a viable real estate development website on the best possible terms.
Even though we know that the Durham Region real estate improvement business is cyclical, and several parts of the world are in a house downturn, we also understand from history that well-informed real estate developers are effective in any market – dropping, flat or rising. We are going to working towards what we think the economic conditions is going to be in 12 to 3 years time. Indeed we our self are still active in the market instructions seeking Council permission for several real estate development projects. This provides us the opportunity to act quickly and make our approved real estate growth projects when the market really does become buoyant.
Even if our own ‘crystal ball’ is wrong, we know we have the resources to keep real estate development sites throughout possible further market variances to come, and increasing the cost of rent are certainly helping with this! Our belief is that this is really a golden time to act — perhaps a once within a generation opportunity. Maybe it is far from the time to sell completed property development projects at the moment, however it is certainly a great opportunity to safe the development site and obtain progress planning approval. Now this technique is not for everyone – you’ll want the necessary resources to hold the expansion site and especially the knowledge associated with real estate development to take advantage of these types of opportunities.