While you are all set to purchase an apartment, you need to be very careful. From price of the flat to the amenities provided, you inspect everything. But, are you missing something important? Have you checked for the builder? If no, then take some time and read the following tips before you make a final decision.
Buying a home is probably the biggest investment you make in your lifetime. And while doing so you cannot take any chances. Whether it is about the location, interiors, or space, you want everything to be perfect, isn’t it! Thus, when you have kept everything in your check list, have you considered the reliability of your builder?
‘A builder is like a little god – somebody who does things, doesn’t just draw things.’ ~ Renzo Piano
Yes, your builder’s experience, expertise and lots more counts toward an excellent purchase. Better late than never; if you haven’t checked for this, start it now!
The rising number of real estate builders might confuse you for how to begin with the selection process. Not to worry! Look for the below mentioned qualities in your builder:
#1 Start Searching:
Collect information from near and dear ones regarding the best builders in the city you want to buy an apartment. Prepare a list of builders that fits well in your budget and needs. When done with your list, it’s time to interact with them directly and indirectly.
#2 Experience Matters:
While you are choosing the right building firm, you need to look in for their experience in this field. How many years have they been devoted in delivering world class buildings, maintain the ethics of real estate world. How many projects have been successfully accomplished and many more. In all, you need to look for strong experience overall.
#3 Past Home Buyers:
This is the easiest and simplest way to check the reliability factor for your builder. A number of builders offer customer references and referrals. But, if your builder is not, it is your turn to ask. The past buyers will give you a clear idea of what was promised and what was delivered. If they are fully satisfied, they would definitely recommend them to you, else not.
#4 Licensed and Insured:
This will depend on the area you are living in. While in some states, it is necessary to be licensed. If you are in such an area, make sure you go with a licensed builder to avoid any problems in future. You can also ask whether the builder and his contractors carry some sought of insurance for their entire building process or not.
#5 Resale Factor:
This is one of the important factor, especially for those who are buying the apartment as an investment. Remember, reputation of a good builders among homeowners and realtors matter greatly at the time of resale. You must opt for a builder whose apartment tend to maintain their value in the long run.
#6 Industry Status:
Generally, builders hesitates from joining the local Home Builder Association.
But, a real good builder will surely be a part of it. He will have a good image among the local, state or national realtors. Such types of memberships predict their commitment to the industry and the experience in their area.
#7 Banks can Help You:
It is an efficient way. Nowadays, banks have extended the loan facilities for home purchase significantly. But, one thing has improved that they carry out extensive search for the builders, project, etc. No more their investigation is constrained to your documents, they also check the builder’s profile. Thus, you can easily find out a bank leading you to a trustworthy builder.
Well, a builder with all these qualities, will surely avail you a perfect living paradise. Do share your experiences with the builders you have met while buying an apartment.