Buying real estate is a lifetime investment and commitment for most of us. Being a big financial commitment you cannot afford to make a mistake. A lot of study needs to go into understanding which builders are reliable and can deliver what was promised on your budget.
We are going to do you a huge favour by sharing valuable tips on how to select a builder to buy your dream home.
Experience in the industry:
The number of years a builder has been in the industry says a lot about their brand. One can only survive for a long time in this field if their work is of high quality and consistent. An experienced builder will have plenty of knowledge about industry trends, materials, and the most effective construction methods.
You cannot simply rely on the ads on TV and the newspaper. You need to do some ground research into their previous works and how those projects turned out. Be it villas or luxury flats in Chennai, the number of projects, the scale of each project, current occupancy rate, and facilities, shows you how successful they are.
To suit your expectations:
Each individual has a different kind of dream about the home they want to live in. Some prefer living in individual homes and some prefer luxury flats in Chennai. There are also different scales of projects, architectural style, and community. Choose the builder that has projects with the same specifications you desire, be it the layout of the home, amenities, or scale of the project.
Number of current projects:
This is an arbitrary factor but still worth exploring if you are opting to go for a highly commercial builder. The number of ongoing projects can be taken as a sign of reliability and good revenue generation, meaning more people are investing in their projects. However, some builders are very niche in choosing the projects they develop. They dedicate their resources to completing each project to perfection before moving to the next.
Tie-ups with banks:
Most builders are tied up with banks to fund their projects as well as process client home loans. If those banks are highly reputed national banks, you can rest assured that the builder is genuine.
Testimonials from customers:
Forget the testimonials on the builder website. They are taken from the few customers that are satisfied with the work. You need to dig into Google My business reviews or better yet talk with the actual people living in the homes to know how satisfied they are with the builder. This will help you gain valuable insight into the quality of materials, the customer experience with the builder, and the post-handover relationship. These are major factors that should influence your decision.
Dedicated team of professionals:
The builder must have a dedicated team of professionals at each of their projects. They should be able to handle any technical queries you have that will set your mind at ease. The team must be coordinated and handle issues smoothly. They can successfully hand over the project with no snags leaving you completely happy with the work.
Legal certifications of the builder:
Builders need legal certification from the local and state governing bodies. They also receive accreditations from reputed certifying agencies. Look into the license and accreditations of the builders you have shortlisted. You do not want to lose your dream home over the builder’s legal battles. Check for their membership with local and countrywide construction and real estate bodies.
Most builders have a planned schedule of activities for each phase of construction. The builder must be able to give you full disclosure of this schedule and contingency measures in place for any unforeseen delays. This can help you track the progress of work to see if they can deliver on time. The closer that they keep to the schedule, the higher the chance that the builder knows what they are doing.
Importance to Structure:
You need to check their on-going projects for the importance they give to structural integrity. Do they do material testing? Do they check the strength of the concrete they use? Do they do post-construction structural checks? Are they maintaining approved guidelines for construction? This shows that they truly care for the home they build. In addition to making profits, they genuinely show an interest in providing a high-quality lifestyle to their customers.
Amenities and post hand over services:
Don’t get fooled by flashy amenities and great exteriors. Check if the amenities will add value to your life there. Zero in on the post-handover services they provide like maintenance. How long are the services taken care of by the builder before handing them over to the association? How secure is the community for children and the elderly? Do the play areas or swimming pool have proper safety measures for preventing accidents? There is a great deal of effort and thought put into the little details by some builders that unconsciously make your life easier.
Resale and Appreciation of property value:
Before you select a builder, see how the builder chooses to undertake a project. Have they done sufficient research into what their property values are in that location? Will you get a good deal if you ever want to sell the place? Does the location have access to public transport, educational institutions, hospitals, entertainment, etc? If the builder has done their due on these areas of focus, then you can safely say that the property value will increase and your investment multiplies in returns.
Lifestyle Housing has been developing Apartments in Chennai in all price ranges. There are affordable luxury apartments in TNagar, the heart of the city. We would love to take you through our projects, if you could leave your details with us at lifestylehousing.