How to find a good real estate developer: key things to consider while choosing home builders
A large number of people choose to buy an apartment in the building under construction every year. This is not surprising, as such acquisitions are cheaper, especially in the early stages of construction.
First of all, when planning to buy an apartment from the developer, it is useful to study the offers on the local market, especially if you are interested in an apartment in a certain place. Developers advertise apartments on their websites, as well as in local or national press, often cooperate with banks, offering on favourable terms their mortgage loans. So actually, finding a good development company shouldn’t be a problem if you spend enough time on this task. Try to use the proposals of companies, development projects having not only interesting offer, but also appropriate reputation or protection in the form of other entities that support their activity in the real estate market.
The difficulty is that it is not immediately clear whether the developer is reliable or not. It is necessary to analyse its activities and draw conclusions not from the image it actively builds, but from the results of its work. You should pay attention to:
- Quality of built complexes. The presence of a good portfolio of built and populated objects is the first thing to test when choosing. The completed projects will show how responsible is the developer in the performance of his direct duties. Estimate how many years the company successfully operates on the market and how many finished projects it has. A well-designed website portfolio is a plus for a developer.
- Reputation. The reputation includes the honesty of the developer in drawing up the contracts, the observance of the construction deadlines, the fulfilment of the commitments made, and many other factors. In fact, the reputation of developers is built up over the years, and any miscalculation can damage it. That’s why reliable developers cherish their name so much.
- Price policy. Many buyers are chasing the lowest possible prices for apartments. Prices vary a lot between developers, but there’s a lowest value below which companies can’t sell, because the effort made is not profitable.
Before entering into a contract with a developer, try to find as much information about it as possible, study the statistics of the houses built and compare the prices. There are various sources to find information, as such as:
- Internet. Search for information on the official and website about completed objects or contact those who have already purchased a dwelling from the developer at the forum. Look at the photos and videos of the building under construction, rate the speed of the construction.
- Mass-media. Study articles in newspapers and magazines, as well as television reports, but don’t forget that some materials can be advertised.
- Friends reviews. Perhaps one of your friends already had the experience of buying an apartment in the building under construction. Talk to them. Personal experience is the most valuable. In addition, you can immediately learn about the estimated future investments concerning the renovation of the new apartment.
- Object tour. Go to the construction site. You can find workers there, and you can talk to them about how fast construction is going and what their projections are.
The best way to find a smooth developer when buying new construction homes is to go to a trusted website. Visit iNewHomes.com – this is a huge marketplace with wide range of new build housing developments, where you can find new build home builders and all new construction projects across the United States. You can use the option «new construction near me» and find appropriate variants of developers and new construction homes. It allows to get updated info for buyers, developers and brokers.
Choose the best place for living on iNewHomes.com! Good luck!