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Questions You Should Ask Your Real Estate Developer before Buying a Property

March 9th, 2021 | Share via:

Being with the right developer is essential in picking the perfect property for you. A developer is responsible for delivering properties like house and lot that meet the needs of every homeowner. Their credibility is highly manifested in the quality houses and buildings they have constructed and built over the years. Nowadays, many new developers are joining the industry and are competing with the established and notable ones. This gives investors more options in their basket of choices. However, this does not directly resonate with getting the best house and lot purchase, if not screened properly. Buyers must be equipped to filter out the developers who can’t deliver their commitments.

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1. Developer’s background

One vital aspect every investor must check is the developer’s background. Questions like how long it has been in the industry and how many projects it has will show the developer’s reputation and performance. Real estate is a hypercompetitive industry wherein all developers are working their efforts in meeting client need-specific projects. The failure to adapt to the changing preferences of the market will hinder any property provider to rise to the top and survive.  Hence, the length of time being able to thrive in the industry speaks volume of their credibility.

There are several affordable house and lot for sale postings online that can easily capture the investors’ interest. It is presented aesthetically for its specific audience to click and hopefully, purchase. However, as an informed buyer that seeks reliable information before making a decision, it can all be just noise on social platforms. Checking facts on the developers will save every client from wasting their time and money on the wrong property.

2. Efforts in helping clients during the pandemic

The occurrence of the pandemic has affected everyone in a way that it changed preferences and behavior over things like buying a property. Now more than ever, people understand better why having a secured and safe home for the whole family is essential. However, because of the financial challenges brought by the lockdown as a preventive measure to stop the coronavirus from spreading, people are opting for an affordable house and lot to purchase.

Developers on the other end work their way to respond to this matter and help clients. This is where providers make amends on their offerings like implementation of flexible payment schemes and investing in innovative efforts like seamless transactions to bring convenience, ease, and safety to their clients.

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3. Product portfolio

A product portfolio is the collection of all the products and services of a business entity. Asking about this will supplement the context of their field of expertise. It is a good way to identify its areas of strength like its capacity and capability to provide a quality output. Some developers offer a diverse set of product lines while some are purely focusing on residential housing properties. Knowing the kind of products developers offer helps you check what’s in store for you hence, you’d know better which one to pick.

4. House and Community Detail

It is important to ask project developers about the house and community detail to check whether or not it meets client’s house standards. Understanding the house and community features help assess the property’s value proposition on the clients’ end. Unique buyers have their own set of checklists that they look for in a house. The right question on the details will help buyers check the primary factors or the basic needs in every home like the number of bedrooms, toilet, and bath, living area, kitchen, and nook for personal use. It is also vital that clients know beforehand what to expect of the house and lot property upon turnover. Some offer bare or fully finished or complete turnover. Each has financial weight on the decision-making of the buyers as one could impose higher spending than the other. Knowing the details will help every investor make a sounder decision in choosing a house.

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5. Financing Options

Every developer has their own set of options for buyer payments. The two most commonly available financing choices are Pag-IBIG housing loan and bank loans. Some real estate companies don’t offer Pag-IBIG funding as part of their financing options while others do. Reputable companies make meaningful relations with other respectable companies like banks and government owned corporations for partnerships. Also, huge developers normally have many financing entities to give their clients flexibility in bank preference. Additionally, the company assists clients in processing their loan application.

6. The reservation process

The reservation process is the set of steps clients go through before actually sealing the purchase. It varies from one developer to the other and may be done online or offline. Good property providers have a systematic process that is flexible and convenient for every buyer depending on preference. For one, they must have online platforms that will enable clients to purchase the property even when overseas or not available to travel.

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7. Aftersales Service

After-sales service refers to the efforts a business puts up for the care of their valued clients. It is an indicator of the company’s dedication to providing clients a total package of convenient buying experiences. There are developers with no after-sales team and some with a responsive customer care service which shows the providers’ whole communication system with their investors. Businesses commit to making their clients happy and satisfied with their transactions, as most believe long-term success is built of good relationships with their buyers. Knowing about this will give investors a clear vision of how making business with them will be like.

These are the questions every homebuyer should be asking their real estate developer before making a decision. Some developers may or may not be able to address these questions as they should, and if it’s the latter- perhaps the client should keep looking for a better one. The right developer will always put buyers’ preferences and needs in consideration. Never settle for less and be skeptical on property providers. After all, every hard-earned money must be invested only in the best of the best with the highest return.

To know more on How to buy a house and lot in the Philippines, visit Lessandra’s lifestyle and home investment articles. Enjoy reading more insightful and helpful blogs only for you!