Picking the Right Developer
When it comes to real estate investment, seasoned investors will tell you that the cost of your investment consists of far more than just the price of your property. Property maintenance, ownership transfer and payment management are just some of the after-sale costs and logistics that buyers often neglect to consider. If you are an overseas investor, you will also need to take into account agent fees, transport costs and the opportunity cost of unoccupied units when making purchase decisions. Your property developer makes the difference between a smooth investment experience and one full of hassle and uncertainty. As such, it is important to do your research and pick the right property developer that will help you to maximise your returns in every way, as it goes beyond just your property. You are investing in a brand that you can trust and align with.
What are the characteristics of a good property developer?
Good property developers have a complete and up-to-date understanding of planning laws and construction requirements. Their considerable experience in the industry also gives them the ability to identify opportunities for realising good investment returns.
Therefore, they usually have a good track record of raising sufficient funds for their projects and seeing them through to completion within a strict and timely schedule.
Developers that are invested in building and maintaining a brand image also push up the ROI for property investors, as buyers increasingly recognise the value of brand reputation in the real estate industry. Hence, their sales process from pre-sales to after-sales is usually seamless and customer-centric, to help minimise hassle and maximise profits for your investment.
You can also judge a property developer by the quality of materials they use for their projects. Trustworthy developers have a strong network of service providers, materials, designers and architects that they engage to build best-in-class quality developments for their customers.
Good developers are also up-to-date in the latest in living trends, catering to their residents’ needs by integrating living technology into state-of-the-art amenities and facilities. They are committed to providing their residents with the best living experience in their development.
What to look out for?
As a homebuyer, it is important for you to do thorough research on different developers to find one that best fits your needs. Take your time and keep your options varied. Rushing into choosing a developer without due diligence comes with dangers such as poor workmanship, abandoned projects and property management issues. Here are some of the steps to take when considering:
- Doing some online research is a good first step to picking the right property developer. Reputable developers usually have up-to-date, accessible websites in multiple languages, as well as social media profiles, where they regularly share the latest on their developments and other industry news. Online property forums are another place that you can visit for advice and unfiltered opinions on developers.
- Take note of the developers’ track record in the industry by looking at their awards, certifications, partners, stock price, regulatory bodies etc., just to name a few. These are good indicators of their reputation and clout in the sector.
- Inspecting the developers’ past projects can also tell you how reliable they are. Compare customer reviews on the average completion times. Scrutinise the finished quality of furnishings, durability and upkeep. Consider taking a tour of completed projects if possible.
- Another important source of information are actual customers. Speak to current and past homeowners and find out about their positive and negative experiences with the developers.
- Compare additional services that developers can provide such as payment plans, membership perks, agent services, leasing, property care etc., to see which one caters to your needs and lifestyle.
- Arrange for a face-to-face meeting with a sales agent to get a better understanding of what they have to offer. Good agents are also able to correctly understand your needs and suggest options for your consideration.
Good developers don’t just construct buildings, they build communities and increase the quality of your life. Speak to our agents to find out more about your dream with Sansiri today.
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