Residential construction and development projects are very complex and offer many challenges. There are numerous opportunities throughout a project for delays, cost overruns, and costly mistakes. As the project manager, you’ll need to figure out ways to avoid these problems and focus on completing the project on time and within budget, and while adhering to the quality standards of the profession.
When considering real estate development, there are two main paths a developer can take – either ground-up construction projects or renovation projects. Both have advantages and drawbacks, and it’s worth assessing the local real estate market and analyzing which approach best meets the needs of that market.
There is perhaps nothing more important than location when it comes to real estate development. Selecting a location for a future development or investment project requires many considerations in connection with the location and the market factors it represents.