When you buy a new phone, what is the most important thing to consider?
You may say features but most readily accept that the manufacturer and brand name are what affects their decision.
This is expected and a hallmark for many decision making processes.
After all, if the manufacturer has a long and consistently good track record, you’ll feel far more confident in spending a lot of money on their products. Trust has a lot to do with consumer spending.
Similarly, when looking for a house, especially if it’s a new sale and you are a first time home buyer, the track record and trustworthiness of the developer selling the property is extremely important.
Making a wrong decision to buy a house from a less than reputable developer can have dire consequences.
Therefore, before you give in to the persuasive sales talk, take some time to research on the developer.
Here are some things you must check;
1. Experience:
How many projects does the developer have? How many were completed? How successful were they? How long has the developer been in operation?
2. Size:
What is the standard size of an apartment in your state? Are they are of respectable size or has the developer tried to increase the number of units by making them small? The standard size will be different in the cities. For example, Kuala Lumpur may have smaller units because of its density when compared to Malacca or Penang.
1. Experience:
How many projects does the developer have? How many were completed? How successful were they? How long has the developer been in operation?
2. Size:
What is the standard size of an apartment in your state? Are they are of respectable size or has the developer tried to increase the number of units by making them small? The standard size will be different in the cities. For example, Kuala Lumpur may have smaller units because of its density when compared to Malacca or Penang.
3. Quality:
How do all the previous projects look? What quality of materials was used? What was the quality of the end result? Were there any problems with the infrastructure, piping and electrical systems?
How do all the previous projects look? What quality of materials was used? What was the quality of the end result? Were there any problems with the infrastructure, piping and electrical systems?
4. Residential:
Is this the first residential development the developer has done? Is the developer more proficient in commercial buildings? This is important because the needs of a residential development are very different from that of a commercial one.
Is this the first residential development the developer has done? Is the developer more proficient in commercial buildings? This is important because the needs of a residential development are very different from that of a commercial one.
5. Track record:
Has the developer consistently finished all projects on time? Were there any problems at launch? What do people say about the developer? Were there delays? Were the delays justifiable?
Has the developer consistently finished all projects on time? Were there any problems at launch? What do people say about the developer? Were there delays? Were the delays justifiable?
6. Banks:
You’re going to need to get a loan from a bank. When you do, assume that the bank is aware of the developer. If they’re not, then it’s probably another good reason to be extremely cautious.
You’re going to need to get a loan from a bank. When you do, assume that the bank is aware of the developer. If they’re not, then it’s probably another good reason to be extremely cautious.
7. Updates:
This may seem trivial but a developer that constantly updates and keeps its consumer base informed with the progress is a developer that sees you as more than just a dollar value. In this day of social media, the personal touch goes a long way in establishing important relationships between the consumer and the developer. Check out for constant newsletters, emails and/or rebate packages.
This may seem trivial but a developer that constantly updates and keeps its consumer base informed with the progress is a developer that sees you as more than just a dollar value. In this day of social media, the personal touch goes a long way in establishing important relationships between the consumer and the developer. Check out for constant newsletters, emails and/or rebate packages.
8. Awards:
These are good indicators of the developer’s credibility. However, having no awards does not mean the developer is not trustworthy. An award usually means the developer has risen to surpass expectations or has done something noteworthy for the industry.
These are good indicators of the developer’s credibility. However, having no awards does not mean the developer is not trustworthy. An award usually means the developer has risen to surpass expectations or has done something noteworthy for the industry.
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Disclaimer: The information is provided for general information only. PropertyGuru International (Malaysia) Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.