Reading Time: 5 Minutes
Readig Outcome: After reading this article, you will be able to determine the highlighters and other crucial points that help you decide which housing builder to consider for investing your hard earned money with. You will also be able to understand the supporting factors that often becomes a determinant while chosing a location.
All of us want to own a home that defines us on all grounds and perspectives. But then, the question of ‘How to Identify the Best Reputed Home Builder in popular cities and well- known destinations remains a challenge.
To start with, have you ever come across this quote, ‘One best decision can build a great future?’
Well, the above quote holds good for all your life’s decisions. Whether it is building a home or investing in a property, it is always best to ensure that our hard- earned money and our efforts go to the right builder who will not only build us a home but ensures that, our investment adds value and meaning to our dreams and expectations.
To make the above statement a dream come true phenomena, we hereby present 10 important pointers to focus upon, while choosing a home builder in and across Chennai without any hassles and worries.
What should you consider while choosing a home builder?
1. The Presence: One major factor to consider while identifying or selecting a home builder is to focus on their overall reputation in the market. This will include the following aspects:
a. Ensure that the developer, you choose is known for achievements in the local market, this will help in determining his overall work structure across various segments.
b. The home builder you chose should have a proven track record of completing residential housing projects on time with emphasis on quality and innovation.
2. Accreditation: This must be the golden thumb role while selecting any home builder. Accreditation must be the top priority while finalizing on the final outcome. You can use the following key indicators to do the following:
a. Check whether your home builder has CREDAI Accreditation. Being a member of the CREDAI association is a reputation score which gives an additional level of trust to the customer.
What is CREDAI?
CREDAI is the abbreviation of Confederation of Real Estate Developers Associations of India which is an apex body of private real estate developers. (It was formed by the real estate developers and builders from all over India for self-regulating the business of real estate development.) Make sure the builder you choose to do business or make a purchase with, is a part of CREDAI.
b. Furthermore, you can check whether the property is approved by banks for the home loan. Banks evaluate properties whether it is worth to provide home loans. Since the properties go through an extensive inspection from the banks, home buyers can trust these properties without having further second thoughts.
3. Quality and Trust: Remember that you are building a home which is going to last for generations together, so be wary of how well they are performing in terms of quality and trust. This check can be done through the following points,
a. As a home buyer, you can always make a site visit and get information about the project & home builders. The quality of the service that the builder offers not only depends on the hospitality but also the transparency of the details they provide you, which includes the construction methodologies as well.
b. One such recent methodology in vogue is the MIVAN Technology, a fast-paced construction technique which offers strength and durability to a building using aluminum form-work. This technology is regarded as ‘less-harmful’ compared to the traditional method, where the usual raw materials are used. In Chennai, only a few builders like Urbanrise Constructions LLP implement this technology in their projects. Visiting their ongoing construction sites will give you an idea of what exactly is MIVAN technology and why it is considered as an iconic method in quality construction. Mivan also provides other benefits like no joints and leaks, earth quake resilience etc.
4. Reference Check
Check with the existing residents in their completed projects to understand the buying experience with the home builder. Maybe not all the customers are satisfied at some point; they might have had issues with their builder but, understanding their issues & solving it out sooner than later is where the builder retains trust even with an existing customer.
5. Online Reputation
Browse through the customer’s online reviews, feedbacks, and opinions in various real estate portals and review sites. Analyze whether to trust the builder based on the overall picture you get from those customers’ reviews.
If you are planning to buy a property, one of the prime factors in your checklist should be its “Location”.
a. A reputed builder will have their projects in the happening places of the city. Since the location is regarded as the backbone of a property, ensure the property is situated near your workplace, schools, colleges, IT parks, hospitals & leisure spots.
b. “It is not about today, it is about tomorrow”. This saying suits for property purchases more than anything else. The location also plays an important role in the future appreciation of value for the properties.
7. Site Visit
On making a site visit, evaluate whether all the marketing claims are true about the project. Interact with the sales and marketing team at the site to understand the unique selling propositions of the project and analyze whether the property is worth the investment. Check out the model flat as it would give you the idea of how the finished project would look like.
A clever way of identifying a reputed builder is through their pricing structure.
a. Looks for transparency in the pricing structure and ensure that there are no hidden or add-on costs.
b. Check whether the pricing table justifies with the market value of the property as overpricing is never a sign of reputation in the real estate industry.
c. To take the evaluation one step further, verify their completion and delivery milestones as well. While making payment or signing the agreements, validate the estimated period of handing over. On-time handing over reflects their dedication and how much they value their customers.
Evaluate the referral schemes that the home builders offer to check whether there are any hidden charges. In case of purchasing the property through referral, ensure that you do not pay extra in terms of hidden charges. Make sure there is a transparency in terms of payment so that you have an idea of what you have paid for.
10. Home builders experience in the industry
“Experience speaks perfection” It is because they have traveled quite a long way to understand the nomenclature of the industry.
Minimum of three years excellence is a good sign. Also, it should include some successful projects delivered from their brand. This can help you decide if you can trust the quality & services they offer.
Keep these 10 factors in your checklist to find the reputed home builder at all points of time.
“Better Change Begins With You”