What are the common pitfalls to avoid when conducting due diligence for a multi-unit residential development site in regional Victoria?

A key pitfall is underestimating the specific challenges of regional Victoria, including accurately assessing true infrastructure capacity, navigating nuanced local council planning schemes and overlays, and forecasting sustainable market demand and absorption rates. Overlooking significant cost drivers such as remote servicing requirements, unforeseen environmental or geotechnical site constraints, and the critical need for experienced local consultants who understand regional nuances, can severely impact project viability.