Selecting the right builder is half the work done while buying a home. However, homebuyers often tend to overlook this factor as budget and location tops their checklist.
Buying a home is often much more than an investment – it is the most cherished dream of many buyers. This is exactly why it is essential to go that extra mile to ensure that you do not fall into the trap of builders who indulge in unfair business practices.
However, unless one is a seasoned investor, it is quite easy to fall for the glossy brochures, sweet-salesy talks, and snazzy model apartments. This is because we often don’t ask the right questions. Can this builder deliver what I want? Has he completed his past projects on time? Does he build a quality product?
To assist you in your home buying journey, we have made a simple guide that can help you select the right builder.
Find a builder that matches your preferences
There are builders who specialise in affordable homes while some are known for their luxurious abodes. Determining the builders that offer projects that are within your budget can help you make the most of your property deal.
Also, figure out how many bedrooms you need, whether you need an apartment or a villa, and don’t forget the amenities. Create a budget based on these needs, and search for builders who make good homes in your budget.
Search for a builder with the right experience
Search for builders who have experience in the property type you are looking for. Always remember that different builders have different strengths. Some builders build beautiful independent villas while others build good apartments. Choose yours accordingly!
Wondering how to find one? It’s simple.
- Check if the projects by the builder are listed with the real estate regulatory authority. Just log in to your respective state’s RERA website and check the list of approved projects.
- You can also look for ISO-certification, which is usually displayed on builder websites.
- Check if the project has any ratings such as CRISIL or CARE for added credibility.
- Another measure of a builder’s reputation is an association with known real estate bodies like the Confederation of Real Estate Developers Association of India (CREDAI) and the Builder Association of India (BAI). Members of these groups are liable to reply to their association in case of any disputes or complaints.
Background and reputation check
Check for builder reviews and completed projects on popular real estate forums. Additionally, you can also post your queries there.
The suggestions and opinions of your friends and relatives should also be considered.
Once you are comfortable with all these aspects, you must ask the builder for the sanctioned plan of the project that you are considering. It is recommended that you get this plan and other documents checked by a lawyer before you go ahead and sign on the dotted lines.
Do your homework
Get off your couch and visit some of the past projects of the builder. It will give you get a fair idea of the construction quality.
Pick a builder who makes your life easier
Always select builders that provide services beyond the project’s completion. For instance, a builder should maintain the project for a few years after completion and then transfer the maintenance to the society elected by the residents.
Also, in case you want to sell the project or put it up for rent, the builder should help you connect with potential buyers and tenants.
Grading system for builders
In the real estate sector, renowned builders are often termed as ‘A-grade.’ However, this is an unofficial grading structure. While these grades do serve as a tool for buyers, it should not be the sole criteria impacting your decision.
Instead, you can check builder ratings in ICRA, an Independent Credit Ratings Agency to get a fair idea.
Keep these six points in mind, and you will find the right builder in no time. For more insights on property developers, head over to the builder pages on RoofandFloor.
Further reading
How to Make Home Buying Less Stressful
5 Home Buying Tips from People Who Have Been There Done That
Well said, Really important to choosing right Builder to construct the projects.
valuable content .
Thanks for pointing out that we should check the past projects of the builder to find out if they were able to give a good quality job. I will follow your advice now that I need to find a builder that I will hire to start the construction of my dream house. I have saved up for this for three years, so I want to make sure that the project will be done without issues and delays this year.