Crafting meaningful developments for twenty five years
Conversations of today
Crafting meaningful developments for twenty five years
Conversations of today
An intro to the expert
Farnoud Erfanian -Nozar
Following over 25+ rewarding years in the industry, I’ve made it my ultimate goal to provide you with quality advice in the wide world of property development. Today, I wanted to introduce myself and explain how I can help you on your own journey in this industry.
Let’s take it back to the beginning. My dad was a carpenter, and when I wa
Following over 25+ rewarding years in the industry, I’ve made it my ultimate goal to provide you with quality advice in the wide world of property development. Today, I wanted to introduce myself and explain how I can help you on your own journey in this industry.
Let’s take it back to the beginning. My dad was a carpenter, and when I was 16, I begun helping him out on site on the weekends for the extra pocket money. I really enjoyed seeing the process of creating something from nothing, which ultimately kickstarted my passion for property development before I finished high school.
When I was 18, I went into business with my dad. I borrowed some money to get myself started and kicked off with several small projects, building a few units and gradually working my way up from there. It has been a rewarding journey that has allowed me to upskill over the span of decades and see the work I do make a real difference.
Today, my passions lie in helping people and providing necessary housing that is not only of a high quality, but affordable as well. From sourcing the area and materials to working with architects to find the right design, it can be such a gratifying process to create something that will benefit the community and be used for decades to come. It is what attracted me to the job 20 years ago and what continues to give me purpose in my role today.
If you are just starting out in property development, my advice to you depends on who you are and where you see yourself slotting into the industry. If you are coming from a trade or TAFE background, start small and learn as much as you can on the job. Build your skills up from there to get where you want to be.
If you have acquired a degree and have gone into a big company, use that experience to learn about their processes and learn as much as you can on the job. Use that as a launchpad from which you can start your own journey.
It’s important to remember that the property development environment is always changing, so you need to be adaptive. Learning as many skills as possible is vital to your success. The more environments you work through and familiarise yourself with, the more you build your skill sets and become better equipped to go off on your own and start something that is fully yours. I hope you find these blogs to be an insightful source of knowledge and guidance to assist you in building these skills and navigating the property development industry, whether you’re just starting out or are well into your career.
August 2023
Accommodating Multi-Generational Living in Home Design
Whether it’s part of your culture or a desire to keep aging parents close, multi-generational living is on the rise in Australia. In fact, one in Five Australians live in multi-generational households, which begs the question: how can homes better accommodate this way of living?
What is multi-generational living?
Multi-generational living is defined as a household with three or more generations living together. Typically, this refers to grandparents, parents, and children who are related. Multi-generational living is common in various countries and cultures, and this number is increasing in Australia due to its emotional and financial benefits. As a result, many construction companies now provide off-the-plan designs specifically tailored to different generations living under the same roof.
Multiple master suites
As much as you love your family, everyone needs their own space. Incorporating two or more master suites at opposite ends of the house offers more privacy and a better sense of togetherness in communal areas.
Multiple living spaces
To avoid overstimulating noise and fighting over the TV remote, it’s handy to have multiple living spaces for different uses. Consider a reading nook, kids’ playroom, outdoor alfresco, or movie theatre in addition to the lounge room.
Additional storage space
More people means more clothing, toys, and knick-knacks. Having ample storage space throughout the home, such as built-in or walk-in wardrobes, a butler’s pantry, and additional storage cupboards keeps clutter at bay.
Accessibility
If living with aging family members, accessibility should be one of your top priorities. Is the entry step-free? Would a seat in the shower be helpful? Is the master suite for older family members better suited on the ground floor? All of these are important to ensure the future comfort of your family.
Display homes
Once you have a rough idea of what you’d like in the floorplan, consider touring a display home of interest before committing to the build. This lets you genuinely experience the design and hear the opinions from the rest of your family, too.
Prioritising your family’s needs and striking a balance between togetherness and privacy holds the key to creating a beautiful multi-generational home. Take this into account and you’ll have an enjoyable home not only now, but for many generations to come.
July 2023
7 Essential Points to Consider Before Buying Regional Property
Dreaming of the regional life? The sea breeze, rolling hills, and slower lifestyle entice many residents to escape the big smoke for a life in the countryside.
During the COVID-19 pandemic, the Australian Bureau of Statistics recorded the largest migration to regional areas in more than 20 years. Though we’re well out of the lockdown woods, many are still hearing the call of the mountains. A desire to be closer to nature, family, or good old peace and quiet are tempting – but country life is far different from city life, and there are many factors to consider before making the move.
1. Affordability
Lower property prices are a significant driving force behind the move to regional areas. If a price tag seems too good to be true, there might be a catch: is the property in disrepair or in the middle of nowhere?
2. Amenities
If you forget an important ingredient for dinner, do you face a long drive to the supermarket? Will the school drop-off become a small road trip? If you fly regularly, how far away is the nearest airport? Consider the amenities that are important to your lifestyle, and how far you are willing to travel for them.
3. Internet speeds
Working from home? Regional internet speeds may not match those in the city. Consider if the internet is speedy enough to handle a Zoom call or evening Netflix binge.
4. Public transport
Public transport opens the door to independence for many people. Bus and train services might be scarce or non-existent in regional areas, limiting the independence of those who do not drive. This could result in a sense of isolation or extra chauffeuring to take family members where they need to go.
5. Lifestyle
Does the region match your lifestyle? If you love spending time outdoors, you may want to consider a home close to a national park. If you’re trying to escape the hustle and bustle of the city, perhaps you’d love a property far away from the noise of a main road.
6. Infrastructure development
Is there anything exciting in the local council’s pipeline that might enhance your quality of life, such as entertainment venues, medical facilities, shopping centres, or parks? Not only will this improve day-to-day living, but it is likely to raise your property value, too.
7. Long-term needs
Purchasing a property is a significant decision, so it’s essential you take the whole family’s long-term needs into account. For instance, if your children are entering high school in the next few years, how far will they need to travel for their studies?
Regional areas can offer a variety of lifestyle opportunities – but while the wide-open spaces are tempting, it’s important to consider your long-term needs and plans before taking the plunge. Do your research, explore your options, and make an informed decision that will ensure comfort and happiness not only now, but in the future, too.
June 2023
The Connection Between Home Design and Mental Health
Did you know there’s a link between building design and mental health? It’s called architectural psychology. The connection between the two is very real, and disregarding it when making design choices could harm your wellbeing.
Would you rather kick back in a naturally lit room with a colour palette that’s gentle on the eyes, or a dark room with no windows and a mismatched paint job? Most likely, you’d prefer the first choice – a preference influenced by architectural psychology, the connection between our mental processes and the built environment.
Considering we spend over 90 per cent of our time indoors, architectural psychology plays a significant role in our wellbeing. There are many elements of design that can affect how we feel, so paying careful attention to these can make a big difference to our happiness in the long run.
Natural light
Exposure to natural light aids our circadian rhythm, helps our bodies produce vitamin D, and helps us focus. Natural light also helps with energy efficiency by reducing the need for artificial lights and heating. Consider the placement and size of your windows alongside the addition of skylights, mirrors, or even a conservatory.
Colour
Different colours spark different emotions, so choose your home’s colour palette wisely. Warm colours such as red, orange, and yellow evoke happiness, optimism, and passion. On the other hand, cool colours such as green, blue, and purple bring about feelings of calmness, security, and relaxation.
Outdoor space
There’s an endless list of mental health benefits that come with spending time outdoors, such as a relaxed mood, improved sleep, and mental restoration. Incorporating elements of the outdoors within a property’s architectural design, through features such as sunlit courtyards or balconies, helps foster these benefits.
Layout
A functional home is a happy home. Thoughtful design can be achieved through careful consideration of how residents move through the home, providing ample storage, and dedicated spaces for retreating and coming together.
Noise
While you can’t control when your neighbours decide to throw a party, you can control noise levels in your own home. Sealing your windows and doors and adding carpet, additional insulation, and curtains all play a role in mitigating noise.
The architecture of our homes doesn’t just create a physical space, it shapes our mental landscape. So, as you design your living spaces, remember: the aim is to build not just a beautiful abode, but a haven for your wellbeing.
May 2023
The Growing Build-To-Rent Market in Australia
There has been some reprieve in the house price boom, but the rental market is going the other way with rental costs rising and housing availability dropping.
The rental market is reaching crisis point with long queues at inspections and bidding wars on leases becoming an unfortunate norm in 2023.
Australians find themselves in the midst of a housing crisis with rising rates, rental costs and cost of living pressures are taking their toll.
Almost one third (32 per cent) of Australians are renting but scarcity isn’t simply driving demand, it is putting pressure on the market and creating big problems for people seeking stable, safe and consistent rental opportunities.
Before we reach breaking point, other solutions are needed and one that is making a real impact is the build-to-rent model which is a welcome boost to the rental market.
While the build-to-rent sector has remained a new concept to Australian shores, it has proven its success overseas and is experiencing growth across the nation.
Build-to-rent is in its infancy in Australia but is gaining real momentum, it will soon be a more mainstream and widely considered model of housing and it is coming at an ideal time.
What is build-to-rent?
Put simply, build-to-rent offers the flexibility of renting with the security of home ownership.
These properties are purpose-build for renters, not landlords, and rented out directly to the tenant. Renters often enjoy flexibilities around painting walls, hanging up pictures and keeping pets on the premises, as well as additional amenities such as swimming pools, green spaces and co-working areas. Thanks to the nature of these developments, they aim to foster a sought-out sense of community. Build-to-rent properties may range from a building encompassing several units right through to high-rises.
How can build-to-rent assist housing affordability?
While the build-to-rent model wasn’t originally designed to combat the housing affordability crisis, they offer an attractive solution. With the cost of living on the rise, we are unlikely to see stories of skyrocketing rent fade into the background anytime soon. Build-to-rent offers new accommodation with flexibility that is attractive to renters. Many developers are happy for renters to stay for any amount of time that suits them, or even offering the option to upsize to a larger apartment within the building to accommodate life changes.
Some build-to-rent projects are required to include lower-cost options as part of the development. A great example of this is the Queensland Build-to-Rent Pilot Project, which will see two projects include 240 apartments with cheaper rent.
Across the nation, there are over 7000 institutional build-to-rent units in the pipeline for delivery by 2024. Melbourne is in the lead, currently accounting for 68 per cent of the total number of units, with Sydney in second place at 21 per cent.
Who is build-to-rent suited towards?
The housing crisis does not discriminate. While build-to-rent properties usually come in the form of apartments, they come in various sizes to accommodate singles as well as couples and families. Various build-to-rent properties have been developed with specific demographics in mind, taking location, design and amenities into account to cater to their desired demographic.
There are different types of build-to-rent developments being tested in the Australian market, finding that they work well in desirable suburbs. While build-to-rent is a hot topic, it still has its risks. If caution is not exercised or there is no funding early on, the project has the potential to fail.
April 2023
Why Home Builders are Collapsing and How You Can Protect Yourself
The consequences of the pandemic have put a strain on our wallets; it’s something all of us have felt in one way or another. From purchasing home-school supplies right through to staggering prices of rapid antigen tests, the pandemic has had unprecedented effects on our bank accounts.
Though we are continuing to bounce back to the comforts of normal life, the construction industry continues to feel the pressures of residual pandemic problems. With construction costs rising, several Australian construction companies have gone bankrupt, leaving hundreds of Australians in financial limbo without a completed home to show for it.
Following continuous struggles including supply chain issues, high material costs and labour shortages, a large number of Australian companies have been forced into bankruptcy. If a builder is forced to walk away before the project is complete, the homeowner is faced with a lot of wasted money and additional costs in completing the build as they look for a new construction company to pick up the job.
In turn, this worsens the skilled labour shortage, with many deciding to leave the industry altogether.
There are a couple of things homeowners can do to protect themselves from being faced with this situation.
The most important thing is to do your research thoroughly and ensure the builder you select is reputable. The goal is to find a builder who is financially robust and is therefore less unlikely to go bankrupt; settling for a cheaper company runs a higher risk of facing insolvency in the future.
Before appointing a builder for your project, assess the financial stability of the builder before giving the green light. Perform a credit check and look into acquiring credit insurance to protect yourself. Be wary of red flags such as credit issues or if the builder has engaged in misconduct.
It’s also essential to ensure the builder is adequately insured, given the current climate. You can speak with them and ask to see a certificate confirming liability insurance.
It is vital that you understand and exercise your rights in this current environment. It is highly recommended that anyone about to enter into a contract with a builder seeks legal advice on their contractual documents, as this will help ensure they have the best possible protection should insolvency occur.
Seek advice at the earliest opportunity wherever possible. Though rights may be limited in the event a company does go into administration, through seeking initial advice you will find yourself better prepared to take steps to protect yourself and investigate alternative options sooner. This will also enable you to negotiate with the developer to reach a beneficial resolution in the event things begin to go south.
When concerns begin to arise, it’s also important to consider carefully whether the rights to terminate the contract are sufficiently broad. Is the contractor displaying genuine warning signs of insolvency (such as suspension of work by the contractor, failure to pay subcontractors or a decrease of presence on site)? Circumstantial evidence will usually be present, so it’s vital to acquire the needed advice to protect yourself.
March 2023
Five Ways to Reduce Construction Costs
With escalating construction costs, maintaining a well-organised build and staying within budget can feel like an impossible task. However, there are some key things you can do to take some of the stress out of your build.
- Be prepared
A crucial aspect of ensuring a successful build or renovation is preparation. By investing time in research, planning, inspecting site and soil quality, and researching local zoning regulations, you can anticipate potential challenges and minimise disruptions. Being prepared enables you to make informed decisions throughout the project, paving the way for a smoother construction experience.
2. Reduce waste
With the cost of building supplies on the rise, it's important to find ways to cut down on construction waste. One smart approach is to use prefabricated components that are made off-site, which can help keep waste to a minimum. Also, think about using recycled or repurposed building materials – it's not only eco-friendly, but can also be budget friendly.
3. Off the shelf products
With consistent supply issues racking up costs, it's best to stick to products that are easily available in standard sizes. This might mean making compromises on the design or materials in return for faster construction and lower costs.
4. Project homes
A project home is a type of residence constructed by volume builders, featuring set plans that are built with minor adjustments based on the owner's preferences. Project home designs consider lot size, liveability, and style; and if you’re not quite sure, there’s often a display home you can visit to get a feel for yourself.
5. Experience
Hiring an experienced design and construction team may initially cost more, but their ability to leverage past project experience can lead to a higher-quality build and long-term cost savings.
In the end, taking the time to plan and prepare can save you a lot of hassle and money, and maybe even your sanity! With proper planning, you can efficiently manage your construction project, avoid delays and costly mistakes, and most importantly deliver a final build you can be proud of.