Property development comes with significant potential financial gains. Probable high returns on your investment, investment leverage and greater stability are some of the many benefits of developing property. However, if you are a first-time developer, getting it right and reaping the benefits of property development isn't always easy. That's because property investment also has its share of risks that can prove challenging for you as an inexperienced first-time developer. Moreover, developing property is usually subject to several regulations that you need to know to avoid penalties and other costs. Zoning regulations are among the many rules in property development. And here is everything you need to know about this.
What It Is
As the name implies, zoning is a process of dividing land into different zones. Typically, it's a land-use planning technique that provides the guidelines for an urban area's growth and development. Zoning usually defines land uses, including specific land dimensions for a location, scale of buildings, form or type of buildings, the density of land blocks etc. Generally, zoning laws and regulations vary from one place to another. And in most cases, local authorities, like municipalities, boroughs, councils, cities, shires, towns etc., are responsible for these regulations. Therefore, it's imperative to check with your local government office before developing any property to determine all the zoning regulations you will need to comply with.
Why It's Necessary
Zoning has implications for the authorities and property developers. First, it allows the authorities to control and regulate property and land markets, ensuring complementary usage. Moreover, it will enable them to regulate and stimulate growth and development in different areas. As a property developer, zoning regulations can also provide you with a helpful framework by enabling you to understand the most appropriate locations for your projects before you apply for construction and other permits.
First, zoning regulations specify land-use types that may include residential, industrial, commercial, agricultural, recreational, etc. Therefore, this can help you identify what you need early enough. In addition, zoning regulations help you understand restrictions like building types allowed, minimum lot areas, building size and height, utility line locations, site preservations, boundaries, ecological considerations etc. All these are critical for your planning.
How Town Planners Can Help
It's always best to work with a town planner if you are a first-time developer. That's because town planners can offer you valuable advice on development ideas. For instance, they will let you know whether your plan risks triggering specific zoning and other regulations. In addition, they can help you understand what you need to do on your proposal before applying for required approvals or help optimise your proposal to meet all the required codes and compliance.
Contact a town planning professional for more information.