Property development and architecture might seem unlikely partners, but there
are times and particular investments when the two fit together like a hand in a
glove.

To fully understand the benefits of architectural design in property
development, we first need to understand that there are many types of
property developments.

The hard core property developer looking to make a quick dollar on
refurbishing units may not see a need for using an architect to design their
plans. Their idea is to keep costs down and turn property over quickly. However,
even in these situations there are times where high quality designs will
actually make them more money by adding further value to the property.

But not all developments are the ‘fix it and flick it’ kind. Individuals who
are starting out in the property development game can certainly benefit from the
input of an experienced and highly skilled architect, particularly if they are
renovating a home with
a view to selling it at higher than average prices.

It is common in other countries as the United Kingdom and the United States
for property developers to automatically call in an architect the moment they
take ownership of a property. Mature markets understand the value that great
designs add to the development as a whole.

But it’s not only the visual and livability benefits of a great design that
make property and architecture such a great mix, there can also be significant
cost saving benefits.

It might seem strange to say that using an architect may actually save you
money; it’s not like it’s a secret that architects charge more than drafts
people.  But a highly experienced architect, particularly one that is a licensed
builder themselves, can often save you money by advising on cost saving measures
that can give you great results, without blowing your budget.

Understanding how to achieve a certain look with cheaper materials is a great
example of this. But more than that, an architect can also advise you on how to
maximise the selling features of a property.

Having the ‘wow factor’ is important in getting high offers and getting them
quickly. In the property development game it’s all about selling fast once the
renovation is complete. Poor designs can lead to fewer offers, which often means
that the property stays on the market longer. Taking time to sell can be fatal
to any property development as interest on borrowings can quickly cut into any
potential profits, resulting in the property being let go at well under the
intended sale price.

An experienced architect will be able to show you how to get the most out of
your investment property with the lowest outlay. Furthermore, an experienced
architect will also have a very good idea on the type of buyer the property will
appeal to, and the features those buyers will consider to be the most
important.

Example: How to Maximise Your Profits

If the property would ideally appeal to a young family, having suitable areas
for the children to play will be important. But what is just as important is
that those playing areas are able to be supervised from the kitchen, so the
parents can keep an eye on their children while they prepare meals. An architect
can advise you on the most cost effective way to achieve this whilst adding an
inexpensive ‘wow factor’ that will help the property sell quickly.

So if you’re looking to get into property development talk to your Loan
Market mortgage broker.