Buying a house is a dream for many. They may be buying a new house for personal use or as an investment. Various factors need to be considered while buying a home. For instance, a first-time home buyer must be aware of the different legalities like RERA compliances, builder license for construction and other factors related to home buying and selling. Whatever the reason for buying an investment property, it requires huge investment and sound financial planning and decision-making. Finalizing the location, space, architecture, and getting the best price for home buyers requires a lot of research on the part of the home buyer.
Purchasing a house is an important decision, so a buyer must take all necessary precautions before finalizing the deal. A very prudent option would be to buy a home from a reputed developer with a good brand reputation and market value. Reputable developers have the proper credentials and permissions for constructing properties and can easily help prospective buyers purchase their dream homes. This article will assist buyers in understanding why it is essential to buy a home from a reputed real estate developer.
Top 5 Reasons for Buying A Home from a Reputed Developer
1. Projects Completed on Time
After Real Estate Regulatory Authority (RERA) Act 2016 came into force, the real estate industry has become more regulated. Developers have the primary responsibility for the timely completion of projects. All reputed developers ensure that they are in compliance with RERA norms. When buying a home from a reputed builder, a buyer can thus be assured that all RERA-compliant rules would be followed by the builder, eliminating the chance of getting cheated. Otherwise, one of the biggest fears for prospective homeowners is not getting possession of their dream home.
A reputed real estate developer understands a customer’s need for buying a house as they have experience handling and managing large projects over the years. These developers have all their required systems and resources, helping them finish their projects on time. Timely possession will help a buyer in saving costs like house rent and related increased cost of living expenses.
2. Easy Availability of Home Loan
Buying a new home from a well-known real estate developer will increase the chances of getting a home loan, even for a first-time home buyer. Many banks have tie-ups with reputed real-estate builders. So, the banks have an underlying element of trust with the builder’s projects and customers, thereby reducing the risk of default or fraud on the part of the home loan borrower. Therefore, getting a home loan is easier for a buyer when the property is purchased from a reputed builder. Otherwise, a first-time home buyer cannot get a home loan quickly.
3. State-of-the-Art Amenities
Buyers look for modern amenities while buying a house. A project from a reputed developer will ensure that buyers get the latest amenities. Reputable builders also ensure transparency in dealings and deliver as promised, apart from providing the best prices for home buyers. There are much lesser chances of fraud when buying a new home from such developers, as they provide the promised carpet area, total built-up area, and amenities. Many reputed builders have gained recognition based on the amenities provided in their real estate projects. Such amenities include clubhouses, swimming pools, 24/7 security, enhanced parking spaces and so on. Experienced builders have enough market recognition for constructing the amenities at a competitive price, which they then pass on to the buyer. Getting modern amenities for their home thus ensures that the buyers get the correct value for their investment.
4. Higher Return on Investment and Resale Value
An essential aspect of buying a house from a reputed developer is the high return on investment. Recognized developers commonly construct real estate projects in prime locations, with good connectivity and near commercial spaces. It increases the project value and the projected return on investment. Likewise, if the buyer has purchased the house as an investment, they could get an excellent rental deal if the project is from a good builder. Also, such projects have good resale value.
5. Quality Service
Brand reputation and customer service hold high relevance for a reputed real estate developer. So, they ensure consistency by using high-quality products and services across their real estate projects. A buyer can be assured that a reputed builder will give them quality houses that will last for many years and provide an enriching living experience.
To Summarize,
Buying an investment property is a crucial decision. Reputed developers can help make this decision easy for home buyers and get the best value for their investment. If a buyer is short of funds, they can avail of a home loan from Tata Capital. For more information, visit the Tata Capital website.
29 August 2022
4 mins read
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