The following mistakes are common amongst "do it yourself" developers.
They:
- Don’t have the right mindset to begin with – many people think the process will happen “at them”, whereas you need to proactive and “drive” the process.
- Don’t plan properly
- Don’t invest in their property education first
- Don’t have great role models or mentors to emulate
- Don’t have a team of advisors and fail to seek proper advice early
- Don’t start off with appropriate sized development projects
- Don’t complete a market analysis
- Don’t complete a financial feasibility study
- Don’t have a contingency budget to allow for unexpected costs
- Don’t design according to council guidelines
- Don’t allow for time delays (e.g. approvals, neighbour objections)
- Don’t allow for substantial increased holding costs like interest rates
- Don’t allow for costs like council contributions, taxes, sewer extensions etc
The Seed Property process takes all of these issues into account, giving you peace of mind.
