Realtors has been successfully expanding this service in response to the rapid growth of the construction industry in Barbados. Not unlike any other industry, buying land and developing a product for the market place requires good business judgment and a keen sense. There is a skill in a developer purchasing land and then successfully developing the property into buildable lots.
There are many obstacles between the purchase of raw land and a prosperous completion to a project. We value the pivotal role of research in land developing as it is often thorough research and excellent contacts that turns up the best deals.
Rarely is a prime deal ever advertised for sale in a newspaper.
Housing projects are created by a variety of professionals that must work in concert with each other to achieve a financial and marketable residential subdivision. With over fifty years' experience in applying the tools necessary to be financially successful at buying, designing and developing land for residential uses, we are able to directly incorporate the forms, contracts, schedules, management techniques and business strategies into our business so that our service to you is excellent. We work tirelessly on behalf of our clients designing residential subdivisions, obtaining regulatory approvals/permits and constructing the infrastructure, even though it is the most time consuming, costly, and complex aspect of the real estate industry. Our service may include (and is certainly not limited to) the following:
- Builder/developer industry and business overview
- Site selection process
- Conceptual design
- Design teams
- Approval strategies
- Land development operations
- Land development management
Other duties involve checking on comparable land values to ensure that the price is consistent with other subdivisions.
Process
Since we actually live in the communities we help create on the island, our efforts become much more than just a job. Our proven process ensures that quality living areas are constructed to the mutual benefit of the developer, the homeowner and the environment; our team of professionals at Realtors embodies that ethos into every aspect of activity for our developer clients.
A successful land development project is judged by knowing when lots will be released for sale, knowing how quickly the lots can be absorbed by the market place, and delivering the project on time. So how do we transform undeveloped land into residential communities that make localities proud and help our clients succeed?
We would start with an experienced team of licensed Professional Engineers and Landscape Architects.
- Prepare a tentative plan or subdivision layout of the overall future residential community.
- Prepare detailed construction plans.
- Work through final approvals.
- Consult during the actual construction.
One real joy in this process is the long term relationships that we develop with our clients. Over the course of several years we often attend weddings and other occasions with our clients.
Some of our featured developments are Coral Cove and Palm Beach on the West and South Coasts respectively, as well as Haylie Brae, the residential development in the charming Rendezvous Ridge, overlooking the Rockley Golf Club.
Key Considerations
While not giving all our secrets away(!) we will share with you some key points to note when involved in Land and Residential Development:
Rent and sell
It is important to develop land in to property that is suitable for both resell and rental so as to maximise your opportunity for profit. The two markets do not necessarily go in the same directions; often as one declines the other will pick up.
Location, location, location!
Barbados is already fortunate to be one of the most desirable islands in the sun; the challenge is finding the best location. However, it is important to remember different people value location in different ways so, for example, young professionals want to get into the business centres whereas families with children tend to avoid living by main roads and favour security and privacy.
Get moving
When you have found the land or property you think has potential, do not delay. Realtors suggests finding a conveyancer who can turn things around as quickly as possible for you, and it may be more cost effective to employ people to do the work for you. The sooner deal is concluded and the property is finished, the sooner you make a return on your investment.
