Property development finance can be a vital component of any property developer’s arsenal, regardless of whether you’re a first-timer or a seasoned pro. Quick, easy access to funding can make or break your project, or allow you to take it to the next level for maximum profit or ultimate ambition. This post explores how even experienced developers can make use of property development finance to take your project to the next level.
Property Development Finance for Expert Developers
The process of learning and gaining experience when it comes to property development is always incomplete. Unexpected events and hiccups can always occur, from economic shocks to natural disasters, changing buyer preferences to updated regulations. If you find yourself caught out by an unexpected circumstance, or perhaps taking on a new style of property development project, there are plenty of reasons why development finance can be helpful.
Building new, ambitious property development projects
With quick, simple access to significant capital, developers can consider larger or more complex projects that wouldn’t be feasible using their funds alone. From developing residential buildings with multiple units, creating large family homes or even diversifying into commercial or industrial projects, obtaining property development finance can allow you to take advantage of bigger opportunities.
It may be the case that your project requires architects and planners with a specific set of skills, or to make it desirable and attractive to a buyer you have opted for premium materials or luxury features. For example, you might be developing a large family home in the Sussex countryside with a swimming pool and home spa facilities, all of which require specialist contractors and suppliers. Or at a fundamental level, larger projects require more materials, more labour and more time to complete.
Flexibility & speed
The ability to be flexible and seize opportunities as they arise can be improved by making the most of development finance. Unlike traditional loans, property development finance, bridging loans, exit loans and others can often be secured quickly. Whether it’s a change to plans to capitalise on market conditions or plugging a funding shortfall, even the most experienced developer can benefit from quick access to capital.
Improved interest rates & relationship development
Experienced property developers often have relationships with suppliers, architects, builders, tradespeople and finance providers. This, coupled with their proven track record of successful projects, can help secure finance with more favourable interest rates due to lower risk potential.
Reliable funding for the project duration
As any experienced property developer knows, various suppliers, contractors, architects, planners and staff need to be paid at various milestones during the project, requiring a constant stream of finance. Even developers with plenty of buildings under their hat can experience cash flow and funding gaps. Securing property development finance for your build will ensure you always have the required funds at key milestones. Additionally, upon project completion, exit finance may be required to market or move into your new home.
Embracing local expertise
Engaging with a trusted, local development finance provider can also provide additional expertise, guidance and connections for your project, which can be invaluable. You may be developing property in an unfamiliar location, in which case you will benefit from local knowledge about market conditions, planning regulations and identifying trusted suppliers and contractors for your build.
Even the most seasoned Sussex developers can unlock new heights for their projects with development finance solutions from Hunter Finance. By providing the capital, flexibility, and expertise you need, we empower you to tackle more ambitious ventures, accelerate timelines, and achieve a greater return on your investment. Contact us today to find out how we can take your Sussex property development dreams to the next level, or apply in principle for a quick decision.
