Buying a home is one of the most important decisions that one ever makes. A lot of thought processes, planning, and ideas are often generated before buying a home.
The builder’s reputation is one of the first ideas which must be considered by any home buyer before investing in their dream home.
Many times, the builder fails to keep their promise in providing the amenities and facilities they ensure in the beginning, and this can lead to total damage in the case of a home buyer.
If a builder has a reputation in the market, they will not fail to deliver the finished property within the time availed. While proceeding with this step, you do not want to compromise or take any chances which can affect your investment.
Therefore, before choosing a builder, you must be completely aware of their reputation and credibility in the market.
There are several ways to check the credibility and reputation of the builder, make sure that you follow these steps in the investigating process.
Prestige Group is one of the most reputed builders in Bangalore and without a doubt prestige park grove is one of the best investments you’ll make.
Background Check of the Builder
Conducting research on the builders and developers available on the internet and understanding how they work would give you an idea of the builder and the brand’s reputation.
It will be ideal if you check the completed projects as well as the ongoing projects from the same builder by visiting their locations and offices, thus verifying their claimed ideas.
This will be the best start in examining a builder as this will fetch you a lot of important required information such as the quality of building materials used and quality construction and helps you shortlist the best ones.
Reviews and Ratings
n order to get a proper idea about the strengths, drawbacks, and flaws of a specific builder it is advised to check for the online rating and reviews about them.
Thus, you can get information from a mass population that is beyond your reach. Once you go through the reviews from previous home buyers, you will have a clear and broad perspective about the real estate developer and the reputation they possess.
By doing this you can again filter your preferences.
Quality Certification from Independent Bodies
To inspect, evaluate and observe companies in every sector, there are independent reviewing and quality assurance agencies.
The International Standard Organization is a quality analysis body, acknowledged around the globe that provides certification based on certain parameters.
If the builder is ISO certified, then we can believe that the builder is inspected by the agency, their procedures have been assessed, their quality has been ensured and many other inspections would have occurred. Therefore, the reliability of the developer could be assured.
Ascertain the Financial Stability of the Builder
Assessing the financial stability of the builder is a good way to assess whether the real estate company or builder you are considering is likely to default.
It is easy to access a company’s balance sheet today since many companies publicly publish their financial details. Also, you can approach the concerned Registrar of Companies (ROC) to access the company’s financial needs.
It is essential to keep an eye out for the company’s cash flow details since a company with a strong cash flow is more often likely to finish the projects on time.
Transparency in Usable Space of an Apartment
It is very essential to go through the plans of an apartment carefully before investing in a property.
This plan will indicate the total area of the apartment and how much of the area is allocated to different spaces altogether. It gives a total idea about the built-up and the carpet area.
Ratings by CRISIL
CRISIL is a real estate monitoring agency and its ratings are of immense value. The experts from this field analyze the various builders based on different quantitative and qualitative factors.
The legal records of the company, their delivery, and financial strength, market reputation of the company, safety records of the homes which are previously completed, and many other factors are assessed and evaluated.
This CRISIL rating is one of the best ways to examine the reputation and credibility of a builder.
