Many developers fall in to the trap of listening to anecdotal evidence on what to build. That “evidence” is most often garnered from copying other developers, listening to real estate agents, reviewing MLS sales, and even talking to friends & family etc. These are all valuable sources but nothing beats surveying the market in real time. You have a great deal of money at stake. You cannot afford mistakes.
Do not make any final decisions until you gather the hard facts. Hire your marketing team very early on in the process. Put them to work right away with building your CRM system to capture market interest (potential buyers) and survey those potential buyers time and time again. Learn what the market is really asking for. Learn about unit size, unit layouts, unit prices, building amenities, view desirability’s, unit finishing’s, time lines for purchasing, social and economic buyer profiles etc. etc. The list is endless.
You have millions of dollars and your reputation on the line. Do not waste your pre construction time. Put it to good use. Monies spent now may earn you millions later.