THE LIFECYCLE OF REAL ESTATE PROJECTS IN ANDALUSIA
In a so rich and privileged area like Andalusia (Spain), hundreds of people, investors and entrepreneurs have decided to work in real estate projects, being able to make a decision to go towards a common goal, which is to generate income with this economic branch. We can structure for sure that a real estate project will be, from the point of view of the method, composed of processes divided into several stages. In short, the lifecycle of a real estate project.
1) Feasibility of the Project.
This variable leads the first stage of any real estate project since before any work, purchase, or acquisition of a property is necessary to analyze and study its feasibility. Taking into account the participation of real estate agents that allow a better analysis in relation to cost-benefit and other conveniences. In this aspect, it will allow you to recognize the following: market study, legal reports, the study of soils and topography, and economic evaluations.
2) Project Design.
In this design stage, several points will be analyzed that will be of great importance for future construction, some relevant aspects of design are: construction and structure, location, and Road / social impact.
They begin to develop those details that entail the construction, as well as the preparation of plans previously placed in the designs. Once the designs at the architectural level are validated, a budget analysis of the construction is carried out. Some key points of the detail engineering stage for a real estate project are: soil mechanics, topographical study, equipment, and necessary material, and approvals to be built
4) Permission Period: Pre Sale.
For any building or restructuring of land, the necessary permits are needed in order to begin the work previously designed and structured. They are divided into two ways which will be: presale: (Also called Private sale), and blank sale. The permissions are legal procedures that the real estate and the investor have to protect their security before the law.
5) Construction Process
This is one of the most crucial and vital stages of a real estate project. Statistically, the construction stage absorbs at least 60% of the expenses in the project. The reduction or elimination of errors is needed since any slip will generate multiple chain expenses. The detailed aspects of the construction stage are: sale in green, works control, and preparation of a contract for work.
6) Placement for Sale
It is the last step but not less important of any work or real estate project because once it is built or finished, it becomes the decision and actions either for the sale as well as to inhabit it. When the project is dedicated to direct sales or you want to include in the rental market, it is best to have the professional advice of a real estate broker. It will give you an analysis of prices, feasibilities or processes for sale or rent.
Finally, it is important to keep an eye on the following, in 2002, a new law (LOUA) came into force that regulates construction in the countryside in Andalusia. Over the years, new specifications have been published, the last one in January 2013.