Whether you’re buying an under-construction home, or building your own, always choose from the top construction companies in India. Planning to live in this house only for a few years? Even so, make sure the house is built on a strong foundation. If you end up selling the property a couple of years later, wouldn’t it be terrible to sell it on a loss?
“Real estate is a great investment, but only when the builder doesn’t cut corners.”
Choosing wisely is a no-brainer, but what should you base your decision on?
Once you have a list of builders to consider, you need to look into their history. You can safely skip out on their birth dates and any details of early childhood, but do take these things into account:
Experience: If the builder is a newbie, it’s usually not a great idea to hire them. They’re untested, and could stumble even if they mean well. A builder with an established presence is more likely to be reliable and would have matured thanks to their experience in the field.
Customer Satisfaction: Arrange to meet with their past clients. This will give you first-hand accounts of the builder’s competence. If they did a good job, their clients will be more than happy to put in a good word for them.
Builder License: For the first time, you’ll get to ask someone else to show you their license! Builder licenses are proof that they will be held accountable for the project being completed on time. It’s best to find someone with a license because they’ll work harder, if only to keep it from being revoked.
“This does not mean that you can jump on your builder and expect them to cushion your fall. Far from it.”
However, many construction companies in India have tie-ups with insurance agencies, and with their help, you can find a home insurance scheme that suits your requirements.
Your newly-constructed home will likely be under warranty for a while, and builders are obliged to repair certain issues for free, for as long as it lasts. But, it’s not like they’ll build you a new home if yours is destroyed in a fire. For that kind of thing, you need insurance, which is a lot easier to obtain if your builder has an agreement with an insurance company.
3. Go On A Home Tour
“If you want to know whether your builder is the real deal, you need to check out their previous work.”
So brush up on your social skills and contact people living in homes constructed by your builder. They usually won’t have a problem with you touring their house as long as you’re polite about it, and might even offer you advice on how to deal with the builder.
4. Builder-Bank Bond
“A few builders are even affiliated with banks that provide loans to homeowners. The advantage of obtaining a loan through this channel is that the whole process is a lot more streamlined and you don’t have to spend half a month at a bank, trying to get their approval.
If you’re in a cash crunch, it’s best to find a builder with the right connections, so that you can easily take out a loan and purchase your dream home.
5. Don’t Tangle With Red Tape
“Before setting up a construction project, builders need approval from the authorities in question. This involves a mountain of paperwork.”
Even if you follow your gut and find the builder of your dreams, check for any disputes of ownership or delays in approval on the land that’s being used for construction. If your builder is the type who would simply ignore paperwork and regulations, you’re better off staying far from their projects. You don’t want to deal with the fallout that improper documentation can cause.
It’s also a great idea to speak face-to-face with the builder and gauge their reaction. If they’re more interested in looking at the wall behind you, it could mean two things: they don’t really care, or they’re constantly striving to hone their wall-building skills. Figure out which one it is and select the right candidate.
“When you’re prowling the streets in search of the right builder, expect to be looking for a while, but remember that it’ll be worth the hunt. Finding the right builder will ensure a hassle-free experience.