Thursday, 17 December 2015

Selecting builder for buying apartment

The idea of buying a flat can be an interesting prospect but you will soon realize that it is not all fun and that you have quite a lot of homework to do. Some look out for flats that fit within their budget while some are all set to dig deep to get a flat in their preferred locality. Where ever you start, you need to eventually end up looking for the builder’s reputation; except those who start right there. Let me admit that I did not but as it was to happen later, I finally made the right call.
Why Is Builder Selection Important?
Selecting the builder is the most basic and most important step on your road to purchasing a new flat. It is not just the quality of the construction alone that is associated with the choice of builder; it is also a major financial decision as the choice can enhance your investment or ruin it.
Selecting the right builder ensures quality of construction, good return on investment, safe and comfortable environment to live in and hence has a lasting impact on your finances and your life. The builder should possess the knowledge and expertise to deliver. Did I miss mentioning one more important factor? If you want to have a pleasant buying experience, you need to choose the builder who has a great professional approach and makes you feel comfortable dealing with him throughout.
Selecting The Right Builder
As I said, this is where you need to start and this is exactly where I did not. Our family was on a tight budget and hence my mind was all set to look for a flat that fit my budget, of course in the locality of our choice. As I browsed and made calls, just too many so that the mobile top-up agent started beaming every time I walked in to her store, I was left to deal with loads of information on area, topography, landmarks, square feet, brokerage, loans ( the word I just adore), bank interest rates for home loans and almost every term associated with real estate. And I just got what I had to know.
After a number of conversations over phone, meetings with builders and going through online advertisements, I was gradually led towards looking for builder’s reputation. That was when, I should say that I really, really started on the basics on how to buy a flat in Chennai. Here are some suggestions on how to select the builder for your flat.
Ask Around
Talk to your friends and family members to learn about the established builders in the locality of your choice. Those who reside in the area will be able to give you an idea about the builder’s reputation and you may also be able to obtain feedback from those who have purchased flats from the builder.
Do Some Research
Thanks to online platforms, you are just a few keys away from a lot of information on builders in your area. Get a list of builders who are well established in the area and do some analysis on their working style. Some builders specialize in constructing flats while some build independent homes. Some cater to the needs of middle class while some target the affluent section of the society and some blend both. Once you have the ground details, you can short list them based on your needs.
Experience Matters
It is true that every established builder was once a new builder as in every other profession but experience has to be taken into account unless you are extremely satisfied with the credentials of a builder. It is no good to cast away a new firm and it is equally bad to take for granted a builder who has been around for a while. Consider experience as a top priority but discussing with the builder, old or new, is essential before you enter into a contract.
Visit Finished Flats
Visiting flats that were constructed by the builder will give you an idea on the level of standard maintained by the firm. It will also help you to analyze how the builder has maximized the available square feet to provide more living space for you. A builder who pays attention to detail and who has the attitude to view things from buyers’ perspective will place comfort above everything.
If you are curious to know if I visited finished flats before booking mine, well, I did not. Our family was thoroughly impressed by the external appearance of the flats that we happened to see and let me also tell you that we did not just go by the external appearance. We were impressed by their choice of words in their online advertisements, which was a clear reflection of their commitment to their task and once we contacted, we were bowled over by their highly professional approach, which was a clear indication of how well they treated their clients. We did visit their finished flats but it was after we entered into a contract and our visit confirmed our judgment. And most importantly, the builder was referred to us by one of our friends. So, you see, I am not saying something I did not do – almost.
Discuss Before Deciding
Once you have identified the builder for your dream home, fix up an appointment to meet him. To make the interview session productive, it is highly recommended to speak up frankly about your budget and your expectations. It is also the right time to ask the builder if he would be open to suggestions regarding changes in designs to address the needs of your family.
Buying a flat, as you well know, is not an easy task. However, if you choose the right builder, purchasing a flat may be much easier than you ever imagined.