Factors to Deliberate on When Contemplating Subdivision
With property prices steadily on the rise, maximising on your lot is critical if you are to get the best returns available to you. And of the best ways of maximising on your lot is by electing to engage in a subdivision. This strategy is incredibly lucrative since you get the chance to create multiple lots on your land and possible sell each for a profit. Nonetheless, land subdivision is not a straightforward process. A number of factors need to be taken into consideration if you are to go about the subdivision in the right manner. Here are factors to deliberate on when contemplating subdivision.
Before you can have your land surveyor go about the subdivision process, it is mandatory to establish the zoning regulations that govern your specific location. Different local councils will have their own varying policies regarding subdivision of a lot. For instance, one of the stipulations included is a minimum size of the subdivided lot, which will have a negative impact on your subdivision if the entire lot is smaller than the stipulate acreage. It is also worth noting at overlooking even a seemingly innocuous clause in the zoning requirements could sabotage the entire subdivision project. Therefore, it is imperative to familiarise yourself with the current policies.
The second factor that will influence your land subdivision project is the presence of restrictions. For that reason, a feasibility check is critical before you start the process so that your surveyor can be aware of any problems that could end up impeding on the project happening. For example, if there is a sewerage system in close proximity to the lot, it will have a negative impact on how the lot can be developed. On the other hand, if the lot is in a location that is prone to bush fires, you will have specifications to adhere by to ensure that the subdivided lots will be safe.
The word easement refers to rights over a property that functions to allow that part of the land to be employed for specific projects or for people to cross through it freely. Typically, an easement will refer to a power or gas line that is running through the lot since these utilities will have to be routinely accessed by the company that maintains them. While the existence of an easement does not automatically mean that the lot cannot be subdivided, it can pose a hindrance to your development plans since the easement will need to remain intact. Your land surveyor will be best placed to interpret how the subdivision can be done with the easements in place.