How can I find a buyer for my newly-designated sub-dividable property?

[ABResident]

I live in Edmonton on a property that was recently designated by the City as sub-dividable (eligible for in-fill housing). The fully-renovated house is on a 15,200+ sq. ft., adjacent to the University of Alberta south campus. The UofA has plans to develop the south campus over the coming 20 years, to expand the institution and add an additional 20,000 students and associated faculty, administrators, etc.



Conventional real estate methods (it is currently listed on MLS) seem to market only the dwelling and ignore the investment potential of the land - how can I find an investor who understands the longer-term value of my sub-dividable property?

 

[RedlineBrett]

The land value is reflected in the sale price even if it has a nice home on it. If it's on MLS then the world knows about it and you'll get full (current) value for it. Builders and developers all have realtors that work for them to find properties like these.



Just because the zoning has changed to allow greater density does not make your home immediately more valuable... Someone needs to be first in and set the precedent for the community as a redevelopment area. If there are other sub-divideable areas in town where builders can get in cheaper those communities usually build out first.

 

[Thomas Beyer]

If the house is fully renovated it matters little if the land can be subdivided. What matters are comps relatively similar in terms of location or house size/quality.



to fully take advantage of the higher land value you must first subdivide it AND remove or relocate the existing house. This maybe possible here if the house is skinny, but likely it is not worth the money. However do look into it, as it may make sense. Friends of us who live in Parkhill in Calgary where all wide lots are subdividable to skinnier infill lots tell me that certain developers specialize in buying every old house on the block, tear them down and build new high end skinny infill houses. That will have to happen here too, but because land prices are so much lower in Edmonton it will take far longer. However you could now look for other areas in Edmonton, or there ( Lendrum ?) to buy older uglier houses and then redevelop them.

 

[williamsmith]

If you are searching buyer for your house or find some kind of difficulty to search good buyer then you have to consult with any real estate group. They will help you alot to find best buyer for your property also gives more attractive or beneficial deals on your property.