| Property Development Sam Bains 10 Development Rules |
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6. Rule five: make a quick buck
Get in and out fast before there is time for the market to fluctuate too much... |
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7. Rule six: in it for the long haul?
...Or alternatively, take on a much larger long-term development that is likely to take five to ten years to complete |
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8. Rule seven: go with design classics
Design well - bland is not good enough, especially in this market. Equally don't go mad - simple, classic design will work wonders |
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9. Rule eight: finish the job properly
Solve problems for the new owner - if the roof is a bit dodgy then replace it. Make sure the plumbing and electrics are all in good working order, because nobody will pay top dollar for a house when the the basics aren't right |
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10. Rule nine: strike a balance
Make sure that you don't end up with a property that's unevenly balanced - a good number of bedrooms to bathrooms and reception rooms is critical. It can be tempting to view extra bedrooms as a quick route to a big profit, but if that means an undersized kitchen, lack of living space and inadequate bathrooms then you won't see the return you're hoping for. |
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