Purchasing your own home can give you freedom from lease agreements, landlords and shifting homes after every few years. Home ownership also brings social status and a sense of accomplishment. However, it is important for you to ensure that the purchase decision is carefully planned, analysed and executed.
How to Choose a Right Builder for Your Property?
• Track record and experience
You don’t want your home to be built up by an inexperienced builder. To ensure the quality of his services, you need to find out how many projects he has successfully delivered, how long he has been in this business and many other things.
• Credibility and reputation
A few years of experience is not enough to choose a right builder. He should have earned trust from his customers and goodwill. You need to check whether he kept his promises regarding delivery, amenities and quality.
• Financial health
While choosing a builder, you should make sure that he is not over-leveraged. You should choose one who is offering the backup of a reputed financer or a fully funded project. You can also check the news to make sure that your builder hasn’t made any default in the loan commitments.
• Legal status
Last but not the least, you should make sure that your builder is not involved in the legal cases whether relating to financial, family or business issues. Court proceedings are generally a huge distraction to the business activities and hence can lead to unexpected project delays.
Tips You Should Consider While Choosing a Property
• Accessibility and location
The surroundings of your home matter as much as the interiors. It should not be near a factory, garbage dump or any other polluted areas. The located property should be close to your frequently visited places like office, college, school, temples, hospitals, etc. You should also check whether public transportation is available there or not.
• Payment and cost structure
It is very important factor to consider as you have a fixed budget and you need to purchase a property that matches with it. Apart from basic costs, you should also consider some extra costs like registration fees, stamp duty, maintenance charges, post possession expenses, etc. There are some construction experts like Rocco Basile who can also offer you discounts and attractive offers apart from quality construction and development.
• Ready to occupy or under construction property
The choice between an under-construction or ready to occupy property would depend on various factors like the urgency, reason to purchase the property, cost, comfort level with the developer, etc. However, a ready-to-occupy property generally command a higher price than under-construction ones because of lower risk and instant utility.
Under construction properties can come with uncertainty regarding quality, finish and date of completion. You should consider purchasing a ready-to-occupy property in most cases as you can start paying the EMIs from the date of shift that can ultimately reduce the interest burden.
In a real estate industry, it is important for you to be careful as it involves a huge financial transaction. Exercising caution while selecting the builder and property can give you the right home ownership.