Selecting the perfect builder is crucial for any individual looking to invest in real estate. You need to make sure that your builder can not only deliver quality but also ensure timely completion. Read on to discover 6 tips to choose the perfect builder.
Getting your new home constructed can be both an overwhelming and exciting experience. With so many builders in the real estate market today, making the right choice can be confusing for a first time home buyer in India. Choosing the right builder is definitely a key step in the journey to acquiring your dream home and a wrong decision can lead to some major financial losses or an endless wait for possession.
Here are some easy steps to help you select that perfect builder:
Defining and Understanding Your Needs: Before you start your search for a reliable builder, you must analyze your requirements and make a decision on what your needs really are. A great way to start this process would be to define your layout and space requirements. Follow this up with a budget and shortlist all the builders who meet your requirements.
Reliability: The credibility of a builder is of great importance. Do some internet research to gauge your builder’s success rate with old projects. Get in touch with existing customers and find out how their ownership experience has been. Some real estate investments fail miserably because of possession delays so make sure you find out how punctual a builder is with their projects.
Appreciation of Value: If you can do a quick calculation on the resale value of the developer’s earlier projects, you can get an insight about how good your return on investment might be. If the developer’s previous projects have had a steady rate of appreciation, it signifies that your money is in good hands. This particular factor is quite vital for those purchasing property exclusively as an investment.
Transparency: Before you book your home, it’s crucial to check that the property has all its relevant approvals and paperwork in place. Make sure that it’s a freehold property and check that the developer possesses all the necessary clearances and certificates from the municipal authorities. If your builder isn’t completely transparent with you, do not, under any circumstances, enter into an agreement with them.
Experience: You should go for a builder who has relevant experience in projects that resemble the kind of home that you’re looking for. If the builder has specialized in commercial projects, he may not be the right choice for constructing residential buildings. If you have specific design requirements, go for a builder who has expertise in customized homes. Opting for a builder who doesn’t specialise in any kind of property type can lead to an ordinary residence on your part.
Financial Stability: There are several builders who put their financial data on web portals. Do check the company’s balance sheet before you make a booking. If the firm has a lot of debts and has not repaid its loans, stay far away from their projects. There are several builders who put their financial data on web portals.
A lot of time, energy and money go into property investments. Don’t compromise when it comes to finding yourself the perfect home and make sure that you’ve found yourself the right builder.
Once a builder has been finalised, you can start looking for properties offered by that specific builder using the smart filter option offered by Commonfloor.