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Are you planning to invest but do not really have a definite idea on what to invest on?  Investments should generate you further income, otherwise then it would be a dead investment.  Keep in mind to invest in something that would generate you money.  One investment you may want to consider is on a new apartment development.  Yes, real estate is never a dead investment.  In fact it is the only investment that apprises every year.  Without doing anything, the property adds value to itself.  Now in taking on a new apartment development project, there are also costs involved as there is in any other type of investment.

 

Here are the costs that you would want to look out after in investing for a new apartment development project.

 

One of the costs is the hard costs.  There are several items that would fall under the hard costs of a new apartments Footscray development.  One of them is the cost of land.  Of course before you could build and infrastructure, you would obviously need a place where the property would be erected.  You do not build building in the air.  If you are really considering building apartments to lease out you would want to invest on the cost of the land first.  The land is actually the part of the property that would cause the appreciation of the new apartment development.  The site work would also form part of the hard costs.

 

Another item under hard costs are the foundations and floor slab.  You should also consider the skin of the building, the doors, the balconies.  Investment on hard costs also includes the roof system, the electrical system, the exterior contingency of the building, the pool if there is any and as well as the landscaping costs.

 

In taking on a new apartments development project, you should also take into consideration the soft costs. There are not much items in this category.  You would need to secure permits and legal title to the property, specifically the land should you push through with the new apartment development.

 

Having a new apartment development may be overwhelming at first.  It takes time, work, and a whole lot of patience.  But when the new apartment development is up and running and you are already able to get clients to lease out the property, then it will just be a matter of collecting monthly fees in the form of money from your tenants.  You would actually be earning by just sitting back and relaxing.