Five Questions that First Time Buyer Needs to ask the Builder

Builder and First-time Home Buyers

Home buyers, even the experienced ones, forget to ask the builder important questions while deciding on buying a house. Apart from understanding the terminology and the jargons, home buyers, especially the first timers, need to understand the various aspects of buying a house and need to ask all the right questions if they do not want to end up with financial or logistical problems with their houses later. Summarized below are 5 things that first-time buyers should ask questions about –

Details about the company

It is extremely important for first time home buyers to understand that the reputation of the homebuilder will affect the way in which their home is built. Right from using the best quality materials to using new and approved practices of construction, first time buyers should not only research all this information but also ask their homebuilders the same. They should also ask them as to how many years they have been in business and what makes them and their construction different from other similar contemporaries in the market.

Possession and construction schedule

While many a reputed builder have a fixed schedule that they draw up and intent to stick to, there are many whose schedules go wayward in light of unexpected delays. Buyers need to know if builders have factored in such delays, taken care of all documentation so that there are very little of them and when they will exactly get to shift to their new homes.

Land and safety concerns

In today’s day and age, home buyers are in perpetual worry about legality and ownership of the land on which the construction is to take place. First time home buyers should question the ownership of the land where their homes are being built, whether the builders have obtained the necessary sanctions, approvals and permissions to build such property, if the construction is being done on redeveloped land and whether the land has passed all safety concerns and inspections.

Asking for references

First time buyers are always advised to ask the builders for references from their previous clients, and ask whether they can check out their previous projects and talk to the homeowners. It is only then that homeowners will get a clear picture as to whether the previous clients faced any problems after they shifted into the house, whether they are happy with the construction quality, the plumbing and other systems. Buyers can also figure out what went wrong in the previous cases and whether the previous clients feel that they received their money’s worth.

Pricing

First time buyers should ask their builder as to what is specifically included in the advertised sales price of the house. In many cases, the standard sales price doesn’t include certain taxes, payments towards utilities and other miscellaneous payments. They should also ask them how much amount is to be paid up-front and what are the payment methods and options for them to pay the rest of the money. Often, reputed builders in India ask for an installment as soon as a slab for each floor.

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by Balaji R via Visakhapatnam, Vizag | Apartments, Flats, Homes, Houses, Plots, Property, Properties, Real Estate, Villas | for Sale | Shriram Panorama Hills