Property Developers Bayside Melbourne – Everything You Need to Know
Sometimes people can get confused about the difference between builders and property developers.
Most Google searches for terms like “property developers bayside Melbourne” will return a heap of results for builders. This serves to further reinforce confusion.
In this useful article, we’re going to aim to let you know everything you need to know about property developers in Melbourne.
Need some clarity around what a property developer is? Then check out this article first.
The lion’s share of the above search term will show local builders in the Bayside area. This is great if you’re looking for a builder. For those looking to just build a house or perform an extension, there’s no stress.
But, if you’re looking for a property development project manager to help to run your residential development project then these results won’t work for you.
These confusing search results is the start of a long road of bewilderment for some people. This is nobody’s fault. They are just led to believe that a builder can assist with property development.
Unfortunately, this is not correct. Townhouse builders do one thing and one thing well. And that’s build townhouses.
Although if you are embarking on developing residential property in Melbourne, you will need a builder. Someone has to actually construct the properties and property developers bayside Melbourne can’t do that on their own.
Companies the offer development management services will project manage your entire development. They will look after the process from go to whoa.
Part of that process will be to put your build out to tender. This means that various building companies will competitively bid for the build contract.
The company, with your input, will pick the best builder to suit your project.
Learn what makes up a builders tender package here.
Why Not Go Direct to a Builder?
Some people ask, “why can’t I just call a builder and let them manage my development?”
Well, even if they tell you they can you should steer clear. They will take advantage as they have no one holding them to account.
A project manager will keep the builder in line and on track. They will hold them accountable on time, price and quality. In this game, time is money and every day has a dollar value attached to it.
Minor delays and disputes can blow out and cost you scary amounts of cash. At the end of the day you’re doing this to make a profit.
This can be a high-risk, high-return venture and we’ve seen plenty of people go bust because they tried to manage it all themselves.
You need lots of knowledge and experience to successfully develop residential property.
What Will a Property Development Company Do?
Have a think about this. An unchecked builder can write their own cheques, which will cost you dollars off your bottom line.
So even if you think you are getting the development management for free you aren’t, worst yet you’ll never know how much you paid because it will be hidden inside your build cost.
So when looking for property developers bayside Melbourne, don’t get caught. The trap is when you approach a builder directly. They’ll string you along – why wouldn’t they?
A building company will tell you everything you want to hear. They will then appoint themselves as the builder at the price they’ve sold you.
What you need to do instead is to ensure you are talking to a development management company. These firms actually provide a boutique, end-to-end development consultants service that you need.
The Difference Between a Builder and a Management Company
A solid development management company will manage your town planning process.
All the approvals needed they can sort out. They will sort the street side services, and the plan of subdivision. A great company will manage the build.
Finally, they can manage the off the plan sales and marketing of the dwellings. It’s best to sell off the plan so you see settlement sooner and don’t have to wait for your money longer than necessary.
I know we’ve said this a bit in this article, but we really want to stress the point. This is for your benefit. When searching for property developers in Melbourne, make sure you’re talking to a development company. Avoid speaking to builders directly.
At little Fish we are client focused project managers that offer specialised development management services. This is our bread and butter. It’s what we do day in, day out. We work with clients and investors all over Melbourne.
Choosing Property Developers Bayside Melbourne for Your Project
There are many quality property developers in Bayside Melbourne and even more awesome development projects. So choosing the right company to partner with is going to come down to what exactly you are looking for.
You need to consider things like the size and type of your project. This will play a big part in the eventual decision you make.
At Little Fish we specialise in smaller to medium residential development projects. We subdivide lots into two, three or four townhomes or units.
We don’t work with huge, multi-level apartment developments. A few dwellings on a large lot is our sweet spot.
We’ve got our real estate development process down pat. Everything runs smoothly when we manage a build.
3 Things to Look for in a Development Management Company
There are a few things to look out for when choosing a residential development company for your project project.
Let’s have a look at some of them here.
1. Solid Work History
Any Tom, Dick or Harry can build a website and claim to be an expert. There are no regulations to manage a development project for a third party. So be careful.
Do extensive research into the individual or company that you are considering. Ensure they have the required experience and they don’t just appear to have the required experience.
The last thing you want your project to be the guinea pig for someone who’s either just starting out or who is trying to build a development management business without the required knowledge, experience and successfully completed projects.
2. Relevant experience
Development projects can vary heaps in type and size. The service you are looking for isn’t going to be a one size fits all. You need to look at the type of development project you are considering and find the best suited development management company possible.
This is important as each person and/or company will be set up and suited to different developments and each will have their own specific efficiencies.
If they have the relevant experience, they will have the relevant efficiencies that your project will benefit from.
The types of services, trades, suppliers they work with needs to be suited to your project type and style.
Check out this explainer video on what a dual occupancy is if you need some clarity.
3. Solid Networks
Property developers in Melbourne are only as good as their networks.
Look for a company that has extensive relationships across multiple geographical regions. They need to know town planners, lawyers, real estate agents, builders and more.
If they can’t show evidence of a solid network of players, look elsewhere.
Little Fish can Help You
Are you considering approaching some property developers bayside Melbourne? As mentioned, this is our bread and butter here at Little Fish.
We can manage your project while you follow as closely as you want via our dedicated portal.
Call on 1300 799 277 to learn how we can help you.