Buying a house is said to be the biggest and most important investment; even more so if it is the first one you’re making. You’ll be living in this place for years, if not decades which is why you need to ensure that you’re getting the utmost quality for your money.
But here’s the thing, because of our rapidly increasing population, urbanization and overall growth of the economy, the real estate sector has been booming in the recent years. While that is a good thing, it also means that we have a lot more developers in the market, some more experienced than the others. If you’re going to build a house of your own, you have to give it up to a trusted name. And that may be more difficult than you’d think so. To make your developer-hunting easier, below is a checklist you NEED!
Ideally, a company that has been in the field for a long time will provide everything you need to know on their website. However, in real estate, seeing is believing. Head over to their office and talk to them personally and make any inquiry that you may have, especially if that company is a new one. Ask them about their past and ongoing projects, about their associates, and the kind of materials they use for building.
Most importantly, ask them about their financial status. If the builder has a sufficient amount of funds, your project is likely to be completed by the given timeline. Communication is the key and by doing so, you will be getting first-hand information.
Too low or too high of a price is a red flag. High price indicates that there might be too many hidden costs or that the developers are charging you too much whereas asking for too low of a price can give you an idea as to what kind of materials can be bought with the said price or that the developers can resort to buying cheap materials. Always ask your developers to keep you updated with sudden price increases or anything related to cost.
Time frame for project completion
Knowing this is vital for you because that will give you time for planning ahead. If for some reason it takes more time than mentioned to build your property then that would imply your costs are likely to increase as well. You could check their previous projects and if they stick to their stipulated time frames.
A good builder should have links to their own suppliers, mechanics, workers, engineers and architects. Having strong connections will make them appear more reliable to you and ensure you successful project.