Article provided by: Royal Park Realty
Land property is one asset every wealthy person would love to possess because it appreciates. Land can be used for different reasons such as residential, agricultural, recreational, and commercial purposes. And this is why land ownership is referred to as real property, which is different from personal property.
Lands can be developed into different structures for residential and commercial purposes to have much more value. Edmonton’s development land for sale, Alberta, just as in any other place in the world, is an invitation to developers who have carved a niche in making architect’s ideas on paper become real property. Once you desire to develop your land into a befitting residential or commercial apartment, you should meet with a leading architect to explain the features you want to see in the apartment. The professional’s duty is to turn your expressions and ideas into a concrete design on paper.
Land and real estate development in Edmonton does not stop there. The land’s development into a commercial property requires top professionals like attorneys, architects, civil engineers, environmental consultants, etc.
Development land for sale is broadly divided into three stages.
STAGE ONE: Selecting an Appropriate Site For Development
When you decide to venture into commercial land development in Edmonton, be prepared to do thorough research to help you determine if the site you have earmarked for that purpose is worth it. The land has to be ideal for commercial development. The proposed land must meet the professionals’ requirements you intend to involve, satisfy regulatory requirements, and be fit for purpose. As a commercial real estate developer, you must consider all useful and available properties in a trade concentrated area to choose from.
Once you are satisfied to continue with the commercial development, ensure to carry along credible attorneys to minimize risks and adhere to legal stipulations. Due diligence is key. Due diligence will reveal if the land is free of all possible encroachments. Ensure to maximize the legal, physical, and economic advantages of the land earmarked for commercial development. You must reach out to local authorities in which the development land is situated because development as an investment requires a lot of money, so you cannot afford to let your money go down the drain. After the review by local authorities, you can now go ahead and create a site plan.
You need to get so many things done, such as site investigation, which will reveal the project’s feasibility or otherwise. The land’s soil must be assessed by a professional to determine the land area and land slope. Also, the land needs a survey to know its location and boundary. The process entails the concerns of a top-notch surveyor over a size mapped out for commercial development.
STAGE TWO: The Development Itself
You must have concluded and signed the land’s purchase contract before proceeding to its development. After explaining your desired structure to the architect, the professional’s duty is to draw a concrete plan to match your desires.
The building process also involves mechanical and electrical engineers and a plumber. You need a structural engineer to lend their expertise, so a lot of weight is not on the land. Civil engineers must be on the ground to factor in storm drainage, parking lot, and adherence to standard building requirements. The civil engineers’ suggestion may provide a better strategy to Edmonton AB commercial real estate for sale.
Also, ensure to seek the local authority’s consent before commencing the project. With this approval, building permits must be sought and obtained from the appropriate authorities to allow builders to commence work.
STAGE THREE: Construction of the Building and Making It Available For Listings
Contractors and builders can start building to bring commercial development to fruition. The building process is not limited to framing, roofing, and a host of interior works. Builders ensure site grading, landscaping, and paving of the park. Upon completing the commercial development property, developers engage real estate agents to include the property in Edmonton commercial real estate listings.
Do You Need Help With Commercial Development Land In Edmonton?
Have you been thinking about that perfect real estate company where you can get to buy commercial development in Edmonton? Royal Park Realty is a leading real estate company specializing in the sale, lease, or purchase of a large range of properties, whether commercial, industrial or investment properties.
We operate in the greater metro area of Edmonton, Alberta, and boast of unbeaten expertise in real estate in Edmonton. We have a global reach, and you are assured that our company is one of the finest you’ll ever come across. Why not contact Royal Park Realty for the best local expertise with global reach: Ph: 780.448.0800?