Tips for buying a house from a builder
There's no dearth of advice when you're about to invest in a home. Here are a few pointers to choose the best builder in kerala.
1. Promotional material: Be careful of all promotional literature as it is designed to entice you. It paints a rosy picture of the builder, the project and neighbourhood. The negatives are not presented so it's your job to find all the negatives and weigh it against the positives before making a well informed choice. Be particularly wary of vague and ambiguous points mentioned.
2. The builder contract: Read through the builder contract thoroughly. Usually these contracts favour the builder. Clarify any point that you don't understand.
3. Don't divulge too much information: Be careful about divulging too much information to the builder's agent. Any discussion you want to have with your family or your agent can be had in private. The builder could leverage your information to his advantage.
4. Put everything in the contract: If it's an important point to you, put it in the contract. Don't let anything be verbal. If it's not in the contract, it is not legally binding.
5. Builders warranty: Make sure you ask for the builders warranty and check what all it covers and what all is excluded. Be wary of builders without a warranty.
6. Check out the amenities: Get a proper list and specifications of the amenities provided by the builder. Builders are sometimes vague about it. Check out the maintenance conditions, whether the association or home owner is liable for it or the builder will continue to maintain it. What is his commitment? Clarify all points before the sale.
7. Builders financing options: Compare the builders financing options to the other options in the market. Do a complete and thorough study of the interest rates, a comparison of penalties etc before making your decision.
8. Keep a record of the plans: Make sure the builder gives you a copy of the plans and the specification sheet so that you are sure of what you are getting. The list should contain the specifications of the finishes, material and spaces. This would be a legally binding too.
9. Closing of the deal: Before you close the deal, pay the balance amount and take the key, do a thorough check of all that the builder had to deliver. Only after a complete check and a walkthrough along with the builders associate is done should you close the deal and sign off.
Ensure that you follow these tips and chances are that you won't make a mistake. Go ahead and enjoy your new home.
There's no dearth of advice when you're about to invest in a home. Here are a few pointers to choose the best builder in kerala.
1. Promotional material: Be careful of all promotional literature as it is designed to entice you. It paints a rosy picture of the builder, the project and neighbourhood. The negatives are not presented so it's your job to find all the negatives and weigh it against the positives before making a well informed choice. Be particularly wary of vague and ambiguous points mentioned.
2. The builder contract: Read through the builder contract thoroughly. Usually these contracts favour the builder. Clarify any point that you don't understand.
3. Don't divulge too much information: Be careful about divulging too much information to the builder's agent. Any discussion you want to have with your family or your agent can be had in private. The builder could leverage your information to his advantage.
4. Put everything in the contract: If it's an important point to you, put it in the contract. Don't let anything be verbal. If it's not in the contract, it is not legally binding.
5. Builders warranty: Make sure you ask for the builders warranty and check what all it covers and what all is excluded. Be wary of builders without a warranty.
6. Check out the amenities: Get a proper list and specifications of the amenities provided by the builder. Builders are sometimes vague about it. Check out the maintenance conditions, whether the association or home owner is liable for it or the builder will continue to maintain it. What is his commitment? Clarify all points before the sale.
7. Builders financing options: Compare the builders financing options to the other options in the market. Do a complete and thorough study of the interest rates, a comparison of penalties etc before making your decision.
8. Keep a record of the plans: Make sure the builder gives you a copy of the plans and the specification sheet so that you are sure of what you are getting. The list should contain the specifications of the finishes, material and spaces. This would be a legally binding too.
9. Closing of the deal: Before you close the deal, pay the balance amount and take the key, do a thorough check of all that the builder had to deliver. Only after a complete check and a walkthrough along with the builders associate is done should you close the deal and sign off.
Ensure that you follow these tips and chances are that you won't make a mistake. Go ahead and enjoy your new home.
