How to distinguish a good developer from a bad one and not make a mistake when buying an apartment

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Be careful and meticulous if you do not want to wait for a house for years.

Choosing an apartment in a new building is difficult and scary. For this you take out a mortgage, save up, deny yourself a lot. But there is always the possibility that the house will not be completed or the housing will turn out to be poor. If you make a mistake, you can stay with a long-term loan, but without an apartment, or you will live where you don’t like.

In addition, we do not buy an apartment every day, so we don’t know all the subtleties. One of the key points is choosing a good developer. He will hand over the house on time, and make good repairs, and equip the yard.

What does a bad developer mean?

The developer is characterized by two things: the term and quality of construction. A good one rents out houses on time or even earlier, while doing them with high quality. A bad one can build a house with miscalculations or delay with deadlines.

It's one thing when the delivery of a new building is postponed for objective reasons. For example, the house was completed, it is completely ready, but the developer cannot improve the yard because of the weather: it is winter outside and it is impossible to plant trees or make a playground. It's another matter when the company ran out of money and there is nothing to build on.

This is how the developer's reputation is formed. If he did not rent one house on time, there is a high probability that he will not rent the second one.

There are many cases when real estate investors who have bought apartments in houses under construction have waited and continue to wait for their homes for years. And those who have moved in complain of shortcomings: an elevator may not work in a new building, there may be no electricity or gas, mold, cracks and even holes on the walls.

Things to do before buying

1. Read forums and social networks

If the developer rented out apartments with defects or was late with the construction deadlines, most likely there is information about this on the Internet. Therefore, first of all, read the reviews about the company on the forums.

In addition, many residential complexes have pages on social networks where new settlers discuss everyday problems. Read messages and comments, ask the residents about the quality of construction and impressions of new apartments.

It doesn't matter what class the new building is: "economy", "comfort" or "premium". Any house must be built in accordance with building codes and regulations.

2. Look at finished homes

Reviews and comments on the Internet do not replace your own opinion. You need to understand whether you like the apartments of a particular developer and in what condition the new buildings, which he handed over a year or two ago.

Go to the entrance, take a closer look at the walls and ceilings. Does the elevator work, what is the quality of the finishing and the condition of the yard? Chat with the concierge and locals. This will give a general impression, and you will understand whether you want to live in such conditions.

3. Explore the site of the developer

Reading the forums and inspecting finished homes gives an idea of the quality of construction. But in order to understand whether everything will be in order with your new building, you need to study the developer's documents.

So, any construction company has constituent documents:

• Charter.
• Certificate of state registration.
• Tax registration certificate.
• Annual reports and audit reports.

It is not necessary to understand this, the main thing is to check the availability of these documents. They can be on the site, but if they are not, ask the sales office. By law, you must be provided with certified copies.

There must also be documents for the construction of a house:

• Building permit.
• Project declaration.
• The developer's right to a land plot.

The project declaration contains the terms of construction, a description of the new building, information about the company's debt. In addition, there is information about who lends to the developer. Now it is difficult to predict which bank the license will be revoked, but if someone credits the company, then the financial risks are calculated and the developer has enough money to build a house.

It is better to buy an apartment under a shareholding agreement, that is, on the basis of Federal Law No. 214. This will guarantee that the house will be completed and you will receive your apartment, and will not get into the news about defrauded real estate investors.

Check the developer's rating on the website. A score of 5 means that the house must be completed on time. The lower it is, the less the likelihood of timely commissioning.

And on the website of the Arbitration Court, you can check whether bankruptcy proceedings are underway against the developer.

4. Talk to a manager

Find out everything that interests you: infrastructure, courtyard, parking, concierge, security, the cost of housing and communal services. Ask where the windows will go and what kind of view will open if this is important to you. Find out about the construction time: when the house will be handed over and when the keys will be issued.

There are no stupid questions: you pay millions of rubles and have the right to get a good housing. So leave your shyness behind and be meticulous.

Find out the price, discounts and the possibility of installments. At different stages of construction, the price is different, so if the manager tells you a specific cost, check if it will change in 2-3 months. In addition, in sales offices there are credit brokers who will tell you where it is more profitable to get a mortgage, assist in the collection of documents and may even submit them for you.

5. Learn about the decoration of the apartment

Another important point is finishing. It must be of high quality, so that in a year you do not have to redo everything. Therefore, ask the manager about the repair options and find out who will be doing this: the developer himself or an outsourced company. The second option is preferable.

Don't be afraid to buy a fully finished apartment: developers attract professional designers who create cool interiors. Thus, they try to please the buyer. This is due to the fact that the last few years, the demand for new housing is less than the supply. Therefore, new buildings appear with interesting interiors and high-quality finishes, even in the economy class.

conclusions

1. Read reviews about the developer on forums and social networks. This will give an idea of the quality of construction.
2. Look at the company's ready-made houses and see if you want to live in roughly the same conditions.
3. Examine the company's documents and check its rating on the website of the Unified Register of Developers. Look at the photo and video reports from the construction site.
4. Find out from the manager all the details about the new building, apartment, options for installments and mortgages.
5. When choosing a developer, pay attention to the decoration of the apartments.