Have you selected the right builder ?
Monday, April 27, 2015
As days pass by the population is growing rapidly and with it the market of real estate is also ticking ahead with increase in the housing requirements. People in a metropolis usually prefer buying an apartment constructed by builders and while doing so they often get perplexed as the number of builders available in the market have multiplied in number. This has led to an increased dilemma amongst buyers to choose a suitable and reliable developer amongst the bunch.
Let us scroll below to find out an easy checklist
which home buyers should speculate on before picking the builder:
Background
check and reputation of the builder
One should always review and scrutinize on the
previous projects by the builder by speaking with residents of already
delivered projects, research the local market etc. Assessment can also be done
in terms of time taken for the project delivery and standard of construction.
If the builder has been consistently unsuccessful in delivering projects on
time then it would not be a fair selection. Customer satisfaction should be the
utmost priority of a builder. One can also visit the sample apartment of the
project to check the quality of products being used and examine the
architecture. The internet is also the best place to search for any legal
disputes against the builder if any.
Builder holds
a proper license
The builder should hold a proper license to construct
and develop properties and should be a member
of Confederation of Real Estate Developers' Associations of India (CREDAI) and
have all the required permissions from the authority of that particular state.
Price
Comparison
It is always sensible to do a complete groundwork on
the price of projects being offered by other builders in the same neighborhood.
A buyer has the right to question the builder regarding the total breakdown of
a project, additional charges and other hidden charges if any. The builder
should be prepared for any inquiry/queries from the buyer and provide a clear
picture.
Has the
builder got the necessary funding?
It is imperative to check the builder’s financial
worth in the market as a part of initial investigation. A developer who is
short of funds in the long run will not be able to deliver projects timely and
thus resort to low quality construction. One can study about the same in
business reports and also ask the buyer how many units they have sold already.
Choosing an amateur builder or developer might turn
the idea of getting your dream home into a horrible nightmare. Hence always
consider these easy points while choosing a property developer.
