Buying a new home or a commercial property that is fresh off the builder’s hands is one of the best ways to purchase real estate today. Many builders sell properties with a host of new features that are trending in the market amongst buyers, and everyone loves the fact that they can have the latest and the greatest. However, the biggest problem or concern when it comes to buying property from a builder is the timely delivery aspect. For this purpose, buyers often choose to purchase properties that are already built and at a discount as opposed to brand new land that is commissioned for build purposes. The other problem with buying built property on time is that some builders are faced with skyrocketing prices and deliver under constructed real estate. For this purpose, builders now charge their customers an extra premium to ensure that the delivery is on time.
Choosing Between A Discount and Timely Delivery
The choice of choosing between the two is entirely up to the buyer of the property. Truth be told, if a buyer is buying for the sake of investment, then they should choose to purchase on a discount rather than on delivery times. If they are buying for settlement, timely delivery is mandatory. Prioritizing needs and financial situation s should be considered before making a choice between the two. If the buyer is choosing to get it on time, then there should be hard and fast rules in place about the features and amenities that the developer promises.
Many builders aim to develop and hand over the properties to the buyer as soon as possible. At the nick of time, when the buyer sees the property ready, they often don’t look at every aspect that the buyer is delivering. There are several situations where the builder has to hide many of the issues to focus on the aesthetics that they promise the buyer. Therefore, a smart buyer would always check everything thoroughly before accepting the property, whether it is at a discount or on time.
- Documents – Ensure that all the documentation of the property is air-tight. This is especially true when looking at the title of the property and the fact that it is out of any litigation before the handover. A legal title certificate should be sighted before accepting the finished product. Any stage by stage approvals should be certified by councils and governing bodies before the builders build and this should be sighted as well.
- Physical Checks – Physically check every aspect of the build with the help of hired inspectors to ensure the property is built as per the layout. The agreed plan should be thoroughly vetted by the buyer’s own architect to find any loopholes that the builder might include. Read every review you can find about the builder before engaging in their services. If the checks are all air-tight, there is little to no chance to worry about anything, and your focus can be on the type of buying option you wish to choose.
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