For most of us purchasing a house is the investment of a lifetime and with the wide choices available today in the market from both new and established builders the picture gets a little muddled as we move from one project to another. Whether you are purchasing an apartment, townhouse or a villa there are some basic questions every prospective homebuyer should ask the builder after zeroing in on the project.
References of past customers and projects
In today’s busy construction market there are several fly by night operators that get into this business without understanding its challenges and abandon projects after taking money from investors. It is best to investigate a builder’s past work by making visits to their previous projects to check details like quality of construction and project deliverables from customers. Every honest builder will give you all details about contractors involved in different parts of their projects and financial backers.
How will you handle changes if required
Though builders insist that every detail should be given to them before starting construction, there are times when you may want to make little changes to suit aesthetics and the project manager may not be willing to make them out of sheer obstinacy. Check with your builder about acceptable changes that can be made to final product if it does not look as envisioned without charging a hefty amount for the same.
What will happens if the project does not get completed on schedule
Now this is the tricky part that most builders would like to squirm out of when you ask so it has to put in writing if possible in the agreement. An honest builder will have these issues clearly written out stating that if there is a delay in delivering the completed structure then a certain amount will be paid till delivery. This clause will save you from unscrupulous builders that may be using your funds to line their own pockets and in the end will give you a substandard building.
Guarantee of structure and essential fittings
When you are spending lakhs as capital and interest to purchase a dream home then you have every right as a buyer to ask the builder about the quality and longevity of the essentials that will be fitted into your home. Ensure that your builder clearly puts the details of materials used during basic construction like steel, bricks, cement etc. and fittings like pipes, electrical wiring, switches, taps etc., in the document. This ensures that your house will come fitted with quality materials and will stay that way for a few years.
Clear break up of common and built-up floor area within an apartment complex
As a homebuyer you should know the difference between common areas and built up area if you are investing in an apartment. The latter will give you a clear idea about the size of your house with the exterior walls and there will be less likelihood of cheating by builder. Sometimes homeowners are tricked by builders and they end up with houses that are relatively smaller than the one promised to them as they did not understand real estate terminology.
This article was originally published on www.thehindu.com
