Buying a property is a big move and a major financial investment. It requires thoughtful planning, doing property surveys and verifying credentials. As investors, you should be vigilant during the entire process. One careless move can force you to pay a heavy price. While choosing to work with the real estate builder and developer in Ranchi, it is important to vet and ask him questions. It will help you to be aware and understand the process better.
Eliminate All Confusion before Buying a Home
In this article, we will discuss a list of questions to ask the real estate developer. You can finalize your decision and work with the best experts.
1. What is your background?
Before you select a real estate developer, consider this primary factor. Perform a background check to know his track record and delivery rate success. Any good developer should complete one successful project with 100% client satisfaction. You can check his credentials by visiting the online company website. Talk to his previous clients and visit the ongoing construction sites. This way, you can check their work quality, material selection and layout.
2. What is your track record?
In the real estate market, execution matters as much as expertise. If the developer lacks a solid track record of project delivery, you should not work with them. All professional developers complete their tasks within time and budget. For other details, you can stress the following points.
- Actual project cost vs estimated budget
- Delivery timeline
- Quality and assurance of construction
- Testimonial and feedback from the clients
3. Are there proper approvals?
The developers portion a part of the land while securing several approvals. They give it to the municipal authorities or the government as Open Space Reservation or OSR. Later they develop it into recreation grounds, hospitals or other amenities.
If the developers build additional units in this land like a parking space, the occupants can face legal issues. Instances like this make it important to check the approvals before buying a property.
You can abide by this checklist of approvals –
- Building regulations
- Pollution and Water
- Height clearance
- NOC from airport authorities
4. How is your financial condition?
The process of property development is lengthy and complex. With proper capital, the developers can ensure the smooth running of the projects. Money helps source the engineers, contractors and other parties. This way, the project can go off the ground without hassle.
Developers with a shaky or unsteady financial position delay the projects. They cut corners while guaranteeing property quality. This is why it is important to ask them questions about their financial report.
5. Can I customize my home?
All good developers give you the option to customize your new home. You should ensure it before choosing to work with them. Every investor would want to decorate their home in a personal way. Modern-day developers work with designers who add fancy fixtures to your dream property. Ask your real estate developer questions concerning this. If you plan to indulge in changes, clarify it before buying the property.
Consult the team of experienced real estate developers at Loyala Group. Buy premium quality customized properties at affordable prices. We promise a comfortable and standard living as per convenience.