As a developer, when you want to put up a new apartment structure, it is important to consider various factors in order to place pricing points that you make a good profit return in a shorter amount of time for yourself and other stakeholders in the project. First of all, the location is a very important aspect in putting up new apartment structures. Depending on your budget, you can always fit in a premium location which is near amenities such as schools and shopping centers. The accessibility of the apartments will mostly determine the pricing points that you put to the houses. Other features such as an ocean view or a mountain view are a bonus to the apartments. You can consider these features so that it increases the rental cost or the selling cost of the new apartments. Here's a good read about Footscray off the plan apartments, check it out!
It is critical that you consider amenities such as supermarkets and schools because most families will want to be near such. If you are putting up the structure far from these amenities, you have to compensate with luxury amenities such as a swimming pool, ocean views and probably a park near the home. Infrastructure cannot be ignored as an important factor. It cannot be compensated in any way. Being able to access the apartments will determining how fast they can sell. You can learn more here about new apartment development.
Another factor to consider is the is the market. You have to look at what is trending in the real estate market such as what type of windows and doors are being preferred. By being able to keep up with the trends, you can sell the apartments at the higher cost. Also, ensure that the location is accessible for the bringing in of raw materials for these building projects. If you are at a place where you can access raw materials in the area, it is a bonus, and it will lower the cost of transportation for these raw materials to the site. It also means that you can source for labor in the same area cutting down on transport costs for the workers. Consider the human labor where you want to set up the new building projects.
Figuring the pricing points for new apartments, you have to consider the other buildings in the area and how much they go for. You cannot overprice unless you overcompensate with amenities. It is important as you choose the location for yourself and the investors that it favors the pricing points that you want to place according to the memorandum that you have agreed upon.