Location. Size. Price. Amenities.
These are the usual factors people focus on when choosing a property either to invest on. But another important but less discussed aspect is the property developer itself.
While it is best to look at a project objectively and separately from who created it, there is a layer of confidence when you know that the property you’re investing on is from a reputable property developer. Say you’re looking at projects from Primary Homes, there’s an assurance that the property will be from one of the most trusted names in the Visayas in the Philippines, and that their standard of quality is assured.
If you’re screening properties from different developers, here are tips on what to consider when choosing a property developer so you can add that layer in your decision-making process:
One of the most fundamental ways to assess a property developer is checking its track record – and this is best done by checking out how long it has been in service and what kind of projects it has produced over the years. Experienced property developers are able to learn from past projects, and are able to make future projects better than before.
Looking at past projects is especially important when looking at pre-selling units as you are making a big investment decision for something that you will only be able to see in the future. With nothing concrete to see before you invest, the risks are high. But when you choose a property developer with commendable projects in the past, you will have a more tangible idea of what you’re investing on.
Awards and Recognitions
Another way that can help you evaluate a property developer is looking for recognition from experts and groups from the real estate sector. These organizations know what’s good in a property, and would only recognize one that really exudes quality. There are many different aspects that award-giving bodies focus on and some of these are design and environmental friendliness so you may choose one that matches your preferences in such areas.
Perhaps one of the most agonizing part of investing in a property, especially for one that is bought during launch or during the construction, is the waiting time. When we buy something, we are more than likely to want to see what we’re getting as soon as possible. This is why it’s best to choose a developer who has a proven history of being able to deliver the project in a timely manner.
While it is true that there is always a reasonable grace period for turning over a unit to owners, and delays are more or less inevitable, you should avoid property developers that has a reputation for late delivery.
A rather overlooked aspect when weighing among property developers is the quality of their after sales service. It is best to work with a property developer that treats their stakeholders well. Some are just accommodating when inviting you to buy but are not reliable when problems arise after closing the deal. Choose a property developer that will continue to happily serve you even after the property has been turned over to you.
You may be able to check sites for feedback from property owners so you can see what kind of problems they experienced and how their developer manages these problems.
Choosing the right property developer is a very important point of consideration when investing in a property. Investing in a property is a huge financial decision so make sure that you are putting your money in the right place by choosing a project developer that can give you your money’s worth and more.