The British have an ongoing love of property with the phrase ‘an Englishman’s home is his castle’ still resonating.
There is a continuous flow of TV shows too that feed our knowledge and inspiration with ‘Grand Designs’, ‘Selling Houses’, ‘Old House, New Home’, ‘Location, location, location’, and so on.
As well as inspiring the next generation of homeowners to make the most out of their investment, there is also a growing breed of entrepreneurs with a desire to make it their day job.
But is being a property developer that easy? Like most things in life, if it were easy then everyone would be doing it, and so our top 4 tops for anyone starting a new property development business may help.
Have a Plan
All businesses need a clear strategy that will help focus on the key income generating issues as well as the things that might go wrong. There are plenty of online resources that will help in creating a business plan, but the key elements will include:
- Business objectives – where you are going to invest, types of property, size of project, etc
- Your mission statement and ethos – what is going to make your business stand