What to look for in a residential property developer

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What to look for in a residential property developer

Buying a home off the plan is very different from buying an existing dwelling. When buying an existing home, you have the luxury of visiting the property several times to evaluate all the pros and cons. You can walk around and physically touch everything to assess what’s good and what’s not. 

When buying off the plan, however, you have to take a bit of a leap of faith. Whilst you can approve plans and have a rough idea of how things will turn out, you also have to put a huge amount of trust in the residential property developer. So what attributes should you look for in a developer to ensure that they are worth trusting? Here’s a list of what to look for in a residential property developer.

Communication

Waiting for your home to be built can be a stressful time. You, therefore, want to look for a developer with fantastic communication skills so that they can keep you informed throughout the entire process. You can test their communication skills by contacting them and monitoring how long they take to respond. If you e-mail them and they take weeks to reply, that doesn’t bode well. Or if you have to call them more than once in order to get a response, that’s not a good sign. 

Transparency

High-quality property developers should have nothing to hide. The quality of their work should speak for itself and they should, therefore, be open and honest with you throughout the process. Test their honesty and transparency by asking plenty of questions upfront. They may not have all the answers right away, but the best developers will be honest with you about this and will get back to you once they have the information you need.

Transparency is the key to trusting your developer. After all, construction projects can encounter all sorts of delays and problems for a variety of reasons and when these issues do arise, you want to be partnered with a developer who will be open and honest with you. This will make a world of difference during the construction process.

Track Record

Whilst you can’t physically see or visit your future home, you can get a good idea of whether or not a developer can deliver by looking at their track record. Reputable companies should have decent websites with plenty of information about past projects they have delivered. The best companies will also be able to offer you site visits to display homes or previous projects. Of course, these homes won’t be identical to yours, it will allow you to get a better idea of the quality and type of thing you can expect.

Be sure to also look at how long each project took to be delivered. Good homes are not built overnight but the best property developers can deliver high-quality projects in a reasonably short time frame.

If the company is new and without a portfolio, research the people involved in the company to see their individual track records. Through social media channels like Linked-In and the power of the internet in general, you should be able to find out what projects they have worked on in the past. This will give you a good idea of whether or not they are trustworthy and can deliver a high-quality project.

References

Going back to the issue of transparency, the best companies have nothing to hide. If they have delivered high-quality projects in the past, they should be able to easily supply you with a reference or two to confirm it. Don’t be afraid to ask for these. If they are reluctant to provide them, run for the hills!

 

Putting your trust in a property developer can be difficult, especially when the finished project will be your home for the foreseeable future. But if you take your time, do some research and ask plenty of questions before you commit to a developer, you can relax knowing that you, and your home, are in good hands.

 

Featured Photo by Étienne Beauregard-Riverin on Unsplash
Craig Evans

Hi, my name is Craig Evans. I am a finance fanatic and tech junkie based in Sydney, I frequently write articles related to Business & Marketing and am expanding my niche of writing by experimenting with different content.

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