Home is a prized possession for us Indians, and buying a home is a cherished dream. Buying a home, however, is quite a daunting task. There’s a huge sum involved; you may exhaust all your savings by paying the initial cash amount. Apart from making financial arrangements, a critical factor to consider before signing the dotted line is how to choose the right Builder. You read or hear stories about builders going bankrupt with half-done projects or project deliveries getting delayed for lack of funds. So, how do you choose the right Builder and secure your investment?
Let us explore certain pointers that will guide you in picking the right Builder for your abode.
key Factors in Choosing the Right Builder
The experience of a builder is an essential factor to consider when you are buying a home. When the Builder has a couple of complete projects under their belt, they are aware of the importance of quality construction and customer service. Moreover, experienced builders would be aware of prevailing construction trends and changes in architecture.
You must also consider that the scale of operations of a builder project may be large or small irrespective of the type: flats/ villas, etc.
Builder Reputation and Customer Reviews
You must look for a trustworthy builder to handle your project, right? So, you should check what customers say about their construction. You must visit completed projects by builder to assess and have a real-time feel of how the projects look. You may speak to people living there and check on the construction quality, etc. Any good developer will not have an issue with speaking to customers as they would be confident about their product. Past customer reviews will be a great guiding choice for a builder. Reading online reviews and comments will help you determine if the Builder is worth considering.
Besides these, checking builder reviews and completed projects on popular real estate forums is a great way, too. You may also post your queries there to get suggestions and opinions from other users. References from friends and relatives can also guide you to make the right choice.
When wondering how to choose the right Builder, the Builder’s reputation is of utmost importance.
Financial stability of the Builder
There are cases you often hear where builders are filing for bankruptcy. Many builders who are short of funds either abandon their projects or delay delivery. Check for information on the financial strength of a company. The quality of construction and timely delivery of earlier projects may be other pointers to consider. A credit reference may be obtained online, too.
As an investor, check for the Builder’s history and stay informed about its holdings and assets. A builder with a strong history and substantial assets is much less likely to cheat you. However, the financial status of a builder may not be a guarantee of a good-quality project. Keep in mind other factors before you book your home.
Membership in prominent Govt. institutions
Before making a purchase, check if projects from a builder are approved by RERA. You can also check for ISO certification, which is usually displayed prominently on builder websites. Good builders are registered with key industry associations such as the Confederation of Real Estate Developers Association of India (CREDAI) and the Builder Association of India (BAI). Generally, members of these groups are responsible and may be held accountable in case of any disputes or complaints.
Quality of Construction and Current Projects
The construction quality of a project will determine how early or how much repair and maintenance would be required later. If possible, make random visits to a project to check the materials being used, such as cement and steel. The workmanship on-site must meet high standards.
Generally, large-scale construction projects are executed in phases as per predetermined timelines, so make sure that a builder gives you full disclosure of these phases and their respective schedules before you commit to any project.
When you visit ongoing project by builder, you can gauge what quality and reliability may be expected from them.
The home style you want
You must know if you wish to buy a home in a small apartment project, a builder’s apartment, or a township/ large project. Not all builders can manage a large-scale project. If you are looking for a flat in a huge residential project, check for builders who specialize in that; those who have few other large projects to boast of. A small builder may not be able to pull off a large project.
Now you know how to choose the right Builder for your abode. The quality of your home will ultimately depend on the Builder you choose. Home is a prized possession; take care when choosing one!