A Development Potential assessment outlines the possible options for a particular site. This is important if you wish to:
♦ Add additional dwellings
♦ Knock down and rebuild
♦ Use the site for another purpose
♦ Maximise the return from your investment
Planning regulations define what you are able to do with your property. Zoning, overlays, local planning policies and the surrounding context of development all effect the buildings that can be constructed and what the site can be used for. These can vary within a neighbourhood and even within a street.
The ability to develop your site can also have a large impact on its resale value. This is especially so if you have secured planning permission in advance. The buyer is under no obligation to build what you have permission for, but it indicates the scale of development that is possible. This is particularly advantageous in areas zoned for higher density residential development as it provides a degree of certainty to the height and density the site can be built at. Planning permits can also be amended provided that the changes are not significant, saving developers considerable cost.