Verify the credibility of your builder with these easy steps
Whether it’s a small flat or the bungalow of your dream, owning a home is not just a mere wish for individuals in India but, it comes with a huge investment, maybe a lifetime income for people too.
As time has changed over the past few years, the growth of the real estate industry has seen a massive rise, and many builders have stepped into the real estate world and amid such a huge crowd of builders finding the diligent builder can be tricky.
Checking the credibility and reputation of a real estate builder has become a necessary task in the list, from verifying their previous projects, testimonials to check whether they have necessary approvals or not. So here are a few easy steps through which you can verify the credibility of your builder.
- Report from the field The first step in determining the market value of your property is to conduct research in the field and speak with customers who have purchased properties in the area. A significant price variation can be an alarming situation for you.
- Operating scale The scale of operations and the quality of work from builders are directly proportional to each other. Their previous projects and the level of marketing they do describes their popularity and credibility.
- Social media presence The most transparent platform in the current world is social media, nothing can remain hidden at that place. You can check social media pages of your builders to find out testimonials, previous work and feedback for a clear authentication.
- Quality check Having said that, buying a home is a once-in-a-lifetime investment, so maintaining the assurance of quality is an unavoidable factor. The International Organization for Standardization (ISO) 9,000+ companies ensure the highest quality of services and products, so when purchasing a home, check to see if your builder is registered with ISO.
- Ratings & reviews Organizations like LEED, IGBC, GRIHA etc rate buildings thoroughly based on multiple criteria. Relying on these organizations can help you filter out your builder the better way.
- Financially stable or not? Did you check the financial stability or not? Most companies publish their cash flow statements and balance sheets on the internet. If you find that company is overleveraged and needs to clear too many debts, reconsider that company.
In the process of home-hunting, many buyers often forget to cross-check the credibility of builders and always get fascinated with the offerings however risking revenue and savings of your life is something you should take seriously and follow the steps above to authenticate your builder’s credibility if you are planning to buy a home.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.