Common themes are emerging amongst projects that are going to market for sales and which are actually achieving results in today’s though market. Have you ever wondered what the secret ingredients are? Well, no need to wonder anymore as SSKB Developer Consulting team has decided to share the top 4 aspects of projects which are selling easier than freshly baked hot cross buns during Easter.
1. Staging – Townhouses schemes which have the ability to stage in smaller deliverable chunks creates better funding and cash flow.
2. Price Point – Both apartment towers and townhouse schemes have a price point especially for the investor which must be affordable (i.e. under the $400K).
3. Design – the scheme outgoings have been considered in the design of the project. E.g. utilising precast concrete which doesn’t require ongoing painting; considered facilities (do you need that pool, spa, sauna, tennis court? Are the facilities needed do they give the market edge or just add cost?) Sites that are tight, but workable design minimise cost.
4. Outgoings – are researched, no surprises and plan for more than just the first year, because investors are looking for stability, not special levies. Make sure the outgoings are “real” based on interrogated budgets with live insurance quotes, quantity surveyor prepared sinking fund reports and that they do not use estimates but living running costs for a scheme within the local area.
Contact us now at firstname.lastname@example.org to learn how to hit the top 4 aspects in your strata scheme and sell your units like hot cross buns.