Land divisions are an essential component of any surveying process. They allow property owners to portion their land into useful segments for many different purposes. For example, a landowner may subdivide their property so they can build a structure, sell a portion of their land or invest in development.
But before any property can be subdivided, landowners need to carry out a feasibility study. There are many types of feasibility studies, but the ultimate goal is to ensure that a piece of land is viable enough for development.
Furthermore, carrying out a feasibility study before subdividing land will help you in the following ways.
Determining if the land is fit for engineering work
If you're looking to subdivide a piece of land for engineering work (such as installing utility lines), a feasibility study will help determine if the portion of land is suitable enough for development.
Surveyors may begin by examining the soil, verifying boundaries and analysing the structures that are currently on your property. If the area isn't feasible for the project you intend to carry out, you can save on the time and money you would otherwise spend on a lost cause.
Determining economic viability
An economic feasibility study allows you to assess the possible return on investment for a piece of land. This is critical for any investor, whether you currently own the property or wish to purchase it. You should plan for an economic feasibility study to be carried out before you finalise on dividing a piece of land into distinct portions.
Analysing the managerial structure of the property
For commercial projects, you should also consider how the newly subdivided land will be managed. The process includes examining your current organisational structure and making any adjustments as necessary. Management decisions should be carried out even before the property is partitioned because you'll have all personnel in place to manage the property accordingly.
Assessing the level of safety of a piece of land
A feasibility study can also reveal any safety concerns with a piece of land. For example, if your upcoming project will cause environmental degradation, feasibility can help you adjust your proposed plan before work begins. Furthermore, if the land may not be able to uphold your intended structure, you may choose to adjust the size or design of the building accordingly.
Feasibility studies are essential planning tools that help landowners make better planning decisions. Investing in such a process in advance will help save costs moving forward.Share