What do you do if your real estate project requires both creativity and practicality?

Real estate is a profession that requires proficiency in several disciplines. from technical, to finance but also to commercial. you need a good combination of practicality and pragmatism to see a project through to the end

I believe in todays generation the way construction industry have been grown rapidly in many sectors like advanced equipments, technical design advancement etc. For a reason I believe nothing is impossible either it be creativity or practicality its possible.

Creativity needs to be aligned with the needs and expectations in order to be successful and that precisely is called being practical. If creativity is not in harmony with practicality it will land you nowhere and will be totally futile.

Creativity can only get you attention, but not profits. If you want your real estate project to shine in a competitive market, focus more on the reality-based planning. Drive logics and inspiration from the on-ground reality and then plan your projects.

Understanding the potential buyer for a project is essential. What are his needs? What does he expect in terms of amenities and looks ( investigate the neighborhood and make sure you understand what sells and what does not ) ? Keep the buyer in mind for anything you do. The most creative ideas won't help, if there is no buyer who will spark to them.

To balance creativity and practicality in a real estate project, collaborate wisely, strategically, and intentionally. Start by partnering with experienced architects who can bring innovative designs while ensuring feasibility. Work closely with urban planners to align creative visions with local regulations. Engage financial experts to maintain budgetary discipline without stifling creativity. Involve community stakeholders to gather valuable insights and foster support. Lastly, technology consultants should be used to integrate smart solutions seamlessly. These collaborations ensure your project is both imaginative and grounded in practicality.

A detailed and realistic budget is of the essence. Not just of the costs to build, but the carrying costs. Beginning developers often don't account for real estate taxes/interest/etc. which must also be anticipated beyond the finishing of the project and during the sales process.

Sustainability is becoming more and more desirable, especially younger buyers are prepared to pay more for a home that aligns with their desire to take care of planet Earth. Solar Panels, Geothermal systems, insulation, grey water systems, draught resistant landscaping and sophisticated irrigation systems might increase the upfront costs but lead to longterm savings for the owner in addition to healthier living for all of us. Sourcing materials closer and selecting materials that a) have a longer life expectancy and b) can be recycled when no longer used are considerations taking hold.

Sustainability in real estate development is no longer a luxury; it is becoming the norm and, quite frankly, a necessity. Solutions such as insulation practices to naturally maintain comfortable temperatures and smart building technology like sensors to automate lighting not only save energy but also improve users' lives, bringing creativity and practicality together in real estate projects. Besides, these features, in addition to benefiting the environment, enhance the functionality and attractiveness of the space, increasing in consequence the value of the property.

Firstly, prepare a brief to request for a proposal from at least 3 real estate project team , architects and designers with a certain budget. A consultant would select the proposal that fits with the creative and practical brief given. Always go with first best option with the top 3 best solution providers.If they understand your briefing, they are easier to collaborate in a project.