What is multi-dwelling housing?
It seems like everywhere you look, people are building multi-dwelling homes. This popular form of housing has boomed in recent years, in part due to a lack of land availability around city areas. In simple terms, multi-dwelling housing describes any block of land with multiple dwellings built on it. It could be a group of units, an apartment building, a subdivision, or even row housing, such as duplex and triplex homes.
Benefits of developing multi-dwelling homes
There are many benefits to multi-dwelling housing for developers, buyers and local communities. Firstly, obtaining housing close to city areas is difficult because there simply isn’t enough available land. By building multiple properties on one block, you maximise the space. Councils are usually in favour of this approach too, because it creates more homes for more residents who can move in and boost the economy.
For developers, it’s much more cost-effective to build homes with similar designs in similar areas. There are fewer architecture and planning costs, which ultimately reduces the cost of construction. New properties, especially multi-dwelling ones, are also extremely popular, so they are a sound investment for rental property owners and developers.
For homebuyers, most multi-unit dwellings are very low-maintenance, with small yards. For those who don’t enjoy gardening and household upkeep, smaller homes are perfect.
What are the types of multi-dwelling development?
There are numerous types of multi-dwelling development, but they all share a common theme. They make excellent use of available land, and they also offer a simple lifestyle that so many people want. Some of these types include:Duplex:
Two homes are built side-by-side, and one wall is shared in the middle.Triplex:
Much the same as a duplex, but with three properties. These are both also known as ‘row housing’.Apartments:
An apartment building features several individual dwellings in one much larger building.Units:
Many people build multiple units on a single block of land, usually with a shared driveway.Subdivisions:
Subdivisions typically include standalone, detached houses, one to the block. However, all types of homes can be built in a new subdivision.
What are the processes for starting a multi-dwelling development?
Building multi-dwelling houses is a big investment in time and money but one that can be very profitable for developers. The cost savings achieved by building multiple dwellings on one block of land are very enticing. But it’s not something you should jump into without the right guidance. Here is a guide on the steps you should follow for multi-dwelling development.Research carefully
The first thing you need to do is research everything thoroughly. During the early investigation stage, you should consider a range of things regarding your intended investment. These can include:- Current real estate market conditions
- Land values
- The most popular property types in the area
- The potential return on investment
- Local demographics and potential for growth
Create a comprehensive project plan
Once you’ve identified a potential site, it’s time to start working on a project plan. This is the part of the planning process where you need to go in-depth. Essentially, multi-dwelling development is a business investment and should be treated as such, your project plan is basically a business plan, outlining all relevant factors including, but not limited to:
- Comprehensive budget
- Materials
- Contractor availability
- Sale/rental strategies post-construction
- Timelines
This list isn’t exhaustive, but it’s important to go through the process of analysing everything. Essentially, this is the part of the process where you determine whether or not a project is feasible.
Choose expert multi-unit builders
Most property developers hire a building team to manage building construction. However, if you know where to look, there are companies that specialise in property development project management, too. Here at Groove Properties, we manage everything related to your development. There are plenty of builders out there, but not all of them specialise in multi-dwelling housing.
Look for a team of experts who understand every step of the process. Of course, you’ll want to see evidence of their previous work, too. It’s too much of an investment to take a risk on inexperienced or generalist builders.
Organise finance
If your project is feasible and gets the green light, it’s time to secure your finances. You’ve now got a clear budget in mind, so you know what you’ll need to borrow. There are countless ways to fund development projects, and every developer is different. Just make sure you have your detailed project plan with you when seeking finance, as this gives lenders confidence that the project is viable.
Arrange appropriate permits
With larger development projects, it’s not just a matter of getting some forms ticked off by the council. The permit process may involve dealing with the council, town planners, and other third parties. However, it’s a crucial part of the process because if aspects of the project don’t meet council guidelines, it can impact viability.
If you work with a team like Groove Properties, we can assist with the DA approval process to ensure there are no unnecessary holdups. It’s a matter of understanding local rules and ensuring the plans are suitable. Your construction project team should be more than capable of handling the permit stage.
Plan and execute construction
Finally, it’s time to plan construction and execute. Although you’ve already done a comprehensive business plan, your construction plan is much more detailed. In this plan, your timeline should be accurate but allow for weather contingencies. You also need to consider where you’ll source materials and arrange the dates you need certain contractors. Safety protocols, site access, machinery hire and much more should be included. This gives you a clear plan, leaving nothing to chance.
Are you considering multi-dwelling development in Brisbane?
Here at Groove Properties, we’re more than just builders. We’re property developers ourselves, giving us a unique insight into the planning, development and construction processes required to build stunning multi-dwelling housing. If you’re a property developer looking for experienced multi-dwelling building experts, contact the team at Groove Properties today. From Carindale to Carina Heights and beyond, we’re the team you can count on.
