Austin Development Advice & Guidelines
In the Austin, Texas real estate world and Bastrop and Dripping Springs and Cedar Park, developing a lot or subdividing can be challenging. All the more challenging in the City of Austin with plenty of hoops to jump. Here are some general guidelines as you approach or consider builing on a lot or expanding on your existing property or selling a property you or your family owns.
Property is valued on current use unless the owner provides City (or County … whatever the appropriate jurisdiction) approval, zoning, engineering review for projected use. Most sellers and/or buyers want to know ultimately how much the property is worth. Just because all the siblings think the property is worth $500k doesn’t mean they have done their homework (in fact, usually they have not). The property may only be worth $300k and every developer in town will think the sellers do not know what they’re doing or it may be worth $2 million and every developer in town will think the sellers do not know what they’re doing.
It is not always an easy determination and we recommend you work with a professional who can help assess the full and best use of the property.
To justify the price on a property, a qualified professional can assess the following:
– Title search
– Plat maps
– Deed restrictions
– Site plan applications
Title search and deed restrictions can help clarify the following:
– Height limitations
– Density limitations
– Impervious cover limitations
For undeveloped property, it is extremely important to assess utility options. Has the owner secured utility permits or does that need to be part of the feasibility period? This can be a complicated engineering exercise that can take months.
The City of Austin provides the Development Assistance Center (in development circles referred to as the DAC). This is a walk-in service at 505 Barton Springs Road, http://www.ci.austin.tx.us/development for more information.
It is also important to check the neighborhood plans which you can access online or at the DAC (go straight to the map & the zoning sections).
© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.