Six Things to Consider when Choosing between Small-Scale or Established Builders

From buying your first house to buying an investment property for your sunset days, chances are you will make at least one real estate investment in your life. And since it is a significantly high monetary value purchase, knowing you are making the investment at the right time, right place, and with the right person is crucial.
The real estate market today offers you a wide variety of choices when it comes to selecting a developer – from reputed established builders to new small-scale builders – offering an array of features, amenities, and price points to attract different prospective homebuyers. Every developer – irrespective of their experience, reputation, and brand equity – has unique benefits and drawbacks.
Here are six things every homebuyer needs to consider when selecting between an established real-estate giant or a new player in the real estate industry to make a well-informed home-buying choice.

RERA Certification

RERA certification is one of the most reliable credibility measures when it comes to real estate developers. Every real estate developer has to register under respective state regulatory authorities; and, thus, adhere to the provisions of the RERA Act 2016. So, purchasing a property from a RERA-registered developer – established or new – ensures the safety of your investment in cases of delayed possession, substandard construction, or incomplete project.

Credibility

One key advantage of going with an established developer is their credibility and track record within the market can assure of the project quality. Although this does not mean new builders will deliver sub-standard quality or engage in fraud, you have to be vigilant when investing with a small-scale developer.

Price Points

An established brand name comes with a premium price tag. On the other hand, a new or lesser-known developer might offer a lower price point to attract more customers. So consider your budget and the price point you are comfortable with when choosing between the two.

Construction Quality and Amenities

Luxury projects from real-estate titans generally offer the latest high-class amenities, better construction quality, and warranties on interiors which new players may not be able to offer. So you have to balance between the price point, construction quality, and amenities.

Property Maintenance and Upkeep

Experience and expertise of well-established builders often reflect in better property maintenance and upkeep – from construction onset to property handover. Additionally, some developers also go beyond this point and help residential societies maintain various amenities in the project – such as kids’ play area, swimming pool, or clubhouse. So to ensure you are investing in a project that is well-maintained up to and beyond the point of handover, looking at the builder’s track record is crucial.

Resale Potential

Although residential real estate appreciates over time, projects by established real estate developers have a higher resale potential, attracting a wider buyer base and higher resale value when compared to new small-scale developers. So if you are looking for a higher return on investment, trusting a renowned developer can be a better choice.
In short, apart from checking builder credibility and RERA certification, you have to balance your needs and expectations when it comes to price point, construction quality, amenities, property upkeep, and resale potential. But be sure to know your developer and consider the points above before making a high-value real estate investment.
Still confused about which is the better choice for you? Get in touch with the Squarea team today for all your home-buying needs.

For more details on this subject, please email hello@squarea.io