Buying a home is one of the major financial decisions in most people’s lives. Hence, the decision to buy a home must be made carefully. And one of the safest ways to ensure you get the best property is to find out one professional and reputed developer.
Choosing a trusted developer can go a long way in ensuring you do not face issues related to the project quality and delays as well as legal complications. But how do you find such a developer? Here’re a few parameters you should assess before committing to the deal.
A reality check of the developer’s background is crucial as the property market is flooded with new and inexperienced developers. To begin with, do check the company’s history, its product portfolio and associates. Ideally, the longer a developer has been in the profession, the better. This means there would be a lot of information about its previous projects in public domain and that can be easily verified. This also makes it simpler to cross-check the quality of its construction and its reliability.
The construction quality of a developer says a lot about what the company believes in. If a developer gives equal importance to everything, right from layout planning to build and finish quality, it’s more likely that their future projects too would have the same level of durability. See if the developer utilizes the latest construction technology and have quality certifications or ratings for its projects.
More often than not, project delays happen due to funding issues. A prospective home-buyer would like to go with a developer who is financially secured as project funding problems may not only delay the project but also lead to the developer resorting to using cheap materials for construction.
A good developer will always have all documents regarding land title, building plan approval, local municipal approvals and other information handy when you seek them. It’s always a plus if you come to know that your developer has/had tie-ups with leading financial institutions/lenders for at least a few of their projects. Nowadays, online platforms can reveal valuable feedback from various sources and respondents about a developer.
It’s a wise idea to discuss upfront with the developer the pricing, payment plan and other extras you may have to incur for the property. Evaluate if the developer is offering you the right value for money. Find out if they have facilities management teams to enhance property value by reducing costs, minimizing risk and increasing end-user satisfaction.
In real estate, seeing is believing. If your eyes do not find a property appealing, most likely you won’t buy it. Hence, do not hesitate to do some legwork to explore all available options and, in turn, find the right property developer for you.