When developing a property it's imperative that you consider the target market for your property before you embark on any venture. Are you aiming your property development at young professionals, students, senior citizens or large families?

Being a property developer isn't just about knowing how to develop a property; fit a kitchen or replace a bathroom. It's about knowing your target market and how to cater to their needs. For example, if you're developing a four bedroom house for a family then you'll definitely need two bathrooms, whereas if you're developing a small one or two bedroom house for couples just starting out on the property ladder then one bathroom will be sufficient.

Property developing for the starter market is a difficult skill as you need to keep your budget very tight so that you don't end up pricing your property out of the market. First time buyers such as young couples aren't generally going to be able to afford granite work surfaces in the kitchen and slate floors in the bathroom. Remember that being a property developer doesn't mean you're developing a property for your own tastes; you're developing a property to sell in order to make a profit. If you over spend on the property developing

you'll find that your profit can quickly disappear.