Property development is a serious business and not for the faint-hearted. If it's done correctly buying and selling property can be fulfilling, exciting and lucrative. If you're preparing to tread this path, ensure you have a clear picture of your potential buyer. In marketing terms this is your target audience. This enables you to renovate the property in a manner sure to attract the buyers you want.

After you've identified a piece of real estate, explore similar properties for an idea of the amount you'll need to invest. Also note their sale prices; this will help you decide if the renovated unit you've chosen will return a profit when sold.

Don't forget to add 20% to your budget as a contingency to cover unforeseen costs. Select intelligent designs and make a list of refurbishments you can do yourself, bearing in mind the time and commitment required. 

You're now ready to hire an architect and a builder. Take your time choosing both as the quality of the finished product and making a swift sale at a good price hinges on hiring an experienced architect with an eye for design and planning laws, and a reliable builder who will not only maintain close communication with your architect but has a reputation for completing projects on time and within the budget. 

London has plenty of properties for sale which are ripe for redevelopment so selecting one or a few is easy and for any advice on investment properties with development potential or a glimpse into our property development offering, drop by our local offices.