Real Estate can be a tricky business if you lack knowledge on how the market works, whether you want to dwell deep into the market for business and investment or even if it as simple as looking for a now home. With the right kind of choices, you could land yourself a pretty decent deal for life, however with the wrong choices, you could end up losing your savings in a gamble.
It does not matter, whether you are an agent trying to maximize your profits of the list of properties you track, or even if you are just trying to build your dream home, there are things you need to consider before purchasing a good property.
When you are searching for your perfect real estate investment opportunity; every plan that you conduct before buying the land, has a specific purpose, and analyzing every detail accumulates to the total worth of your property. If you are considering a commercial property for sale, then the analysis you will conduct will be quite different from the analysis you will conduct on a residential zone.
Let’s suppose you are willing to buy property in Pakistan, and your primary focus is on the construction of your land, you will opt for an architectural design, and during that stage you will have to conduct what is known as Site Analysis.
Site Analysis
Prior to early design stage, you would want to identify whether construction on your bought site is viable or not. Carrying out an extensive and thorough site analysis will evaluate whether development is financially achievable, and establishing strictures in order to implement the best strategy that connects well to the physical and environmental landscapes of the location.
The agenda behind analysis is to notify you about a site prior to the starting of your design process so that your early design reviewing about a site can include considered responses to the outlying conditions. A site analysis will look at problems such as a site location, dimensions, zoning, topography, traffic conditions, climate and environment. The site analysis also needs to ponder on any forthcoming developments, or changes to the site’s environments and surroundings; such as a change of road designation, fluctuating cultural outlines, or other substantial building growths within the area.
Conducting Thorough Analysis
It is vital to carry a thorough site analysis, that you will attempt to investigate as much as possible and gather all available statistics which would relate to the site and your design in the later future. A poorly implemented site analysis can lead to subnormal design due to the designer not having all accessible evidence that responds and develops a solution. You can never know too much about the site.
The overall categories of statistics you will be looking at as you carry out your property site analysis are:
Location – where the site is to be found
Neighborhood – the adjacent of your site including information on zoning and structures nearby and other influences on your project.
Zoning and size – dimensional considerations such as boundaries, easements, height restrictions, site area, access along with any further plans.
Physical features – authentic features of the location such as rocks, trees, topography, drainage patterns.
Existing features – buildings, walls, surroundings, barriers, resources, landscaping,
Flow – Vehicle and pedestrian schedules, through and around the site. Considering the timing of these movements, traffic flow during school times, and duration of heavier patterns. Future aspects of traffic and road changes and developments should also be measured.
Utilities – Any electricity, water, gas, sewer and telephonic services and electrical poles situated in or nearby your site, along with distances, depths and resources.
Climate – all climatic material such as rain, snow, wind direction, effects of climate in different seasons, sun path and direction, all measured during the entire year.
Evaluating Your Site and Value
After a thorough evaluation of your site, you will come to identify, all the aspects of that could affect the value of your property in a positive of negative way and will reflect on whether your residential or commercial property holds a stable value as of today or in the coming future (if you ever plan to sell).
After approving all the statistics you have evaluated, and reaping all the fruits from your location, you will be able to exactly asses the kind of gains and benefits you will be able to acquire when you are buying your property after evaluation.
