After years of hard work, you’ve finally saved up enough money to invest in a real estate development. You might be thinking of a condotel in Tagaytay, which you can rent out for a steady source of income. Or maybe you have a cozy seaside residence in mind for your loving family. But before you can realize your dream, you’ll need to find the right real estate developer.
With countless developers to choose from, how can you single out the most credible ones who’ll offer the best value for your investment? It’s not enough to settle for the developers you see the most in advertisements, or whose projects you notice during your daily commute. Here are 10 characteristics that can guide you to the most credible real estate developers in the Philippines.
10 Important Traits of Credible Real Estate Developers in the Philippines
1. A Visionary Approach to Real Estate Development
Some real estate developers in the Philippines stick to delivering the basics. They put up condominiums which simply have hundreds of residential units, as well as a pool and a gym. While this is enough for buyers who need no more than a place to sleep, it leaves much room for improvement.
On the other hand, the best developers level up their projects and create a unique lifestyle for their investors. They round out residential developments with recreational facilities such as gyms, swimming pools, libraries, and even clubhouses. In addition, they’ll make sure that the development is within proximity of key establishments like hospitals, schools, and shopping malls. Residents can do groceries, attend meetings, or eat out with their loved ones within a few minutes of home!
A visionary developer can turn a quiet part of the city into a lifestyle hub with high property value. Their projects will easily attract both buyers and renters, to the delight of investors who already own units there. The approach itself also gives you an idea of the company’s level of commitment.
2. A Clear-Cut Plan
You’ll also want to check whether a given real estate developer has a definite calendar. The most credible real estate developers will declare their plans, give up-to-date counts of pre-bought units, and provide figures for the amount of money that will go into their development.
Aside from that, you’ll want to be sure that this developer can actually follow their plans as scheduled! Try looking up newspaper and magazine articles, which present validated facts and even interviews that measure whether a developer has kept their promises. This certainly goes hand in hand with the next characteristic…
3. Funds, Period
Would you really trust a developer who consistently lacks funding? Such a developer tends to put off construction or bring substandard materials and amenities into their projects. Overlook this, and you’ll regret it when the cracks literally start to show in your real estate investment!
One handy technique is to find out how many units have already been sold in the development you’re considering. You may also ask about the success of the project’s earlier phases. A credible real estate developer will have the figures to assure you that they have enough funds for their next step.
4. Ability to Make Difficult Decisions
Many developers can find themselves choosing between meeting deadlines and delivering high-quality projects. Even the most credible real estate developers in the Philippines may not be able to dodge these situations completely. However, it’s a good sign if a developer is able to strike a balance and offer top-notch output without delaying construction too much.
5. Crisis Management Skills
While real estate developers will want to show off their best selves, it’s just as important to see how they deal with mid-project crises and complaints. A credible developer will be able to handle any sort of grievance with a prompt, professional attitude.
6. Success in Previous Projects
Don’t settle on a real estate developer without taking a look at their track record! You’ll want to check out the company website to find out about the company’s previous projects. Then, check objective sources such as published articles, general perception of the completed projects, or interviews with people who actually live there. Public opinion can tell you whether the developer’s visions have succeeded in real life.
Just be sure to think critically when going through reviews. Does a lengthy forum rant turn out to be the only negative review around? Or have you found a spotless review that sounds suspiciously like one of the developer’s brochures? Look up as many different sources as you can for a fair measure of the developer’s track record.
7. Brand Recognition
This refers to the accolades a developer has received, not how well they are recognized thanks to their marketing campaigns. Awards may not be a 100% accurate gauge, but they’ll give you a good estimate of a certain developer’s true credibility. Brand recognition can also help you single out the more reputable developers in the industry!
8. Eye for Potential
Another trait of a credible real estate developer in the Philippines is the talent for spotting great opportunities. As soon as a rising trend pops up, they’ll promptly gauge its potential with a feasibility study. Sometimes, they can even anticipate a booming trend by gearing their projects towards it before their competitors catch on! This can range from using eco-friendly technologies in their developments to starting projects in rising hotspots like Angeles or Tagaytay.
9. A Solid Professional Network
The best developers in the Philippines never fly solo. Instead, they build networks with fellow experts who have more in-depth knowledge of accounting, legal matters, or construction. This means that everything they do is backed by professional insight. It pays greatly to find a credible real estate developer with experience and a solid network behind them!
10. Genuine Concern for the Customer
Finally, the most credible real estate developers in the Philippines make it a point to improve the quality of life for their investors. Of course they’ll flaunt their latest projects, but they’ll help clients manage their expectations as well. These kinds of developers will immediately and honestly inform clients about any delays.
They’ll also help you out with maintenance and security, which are both basic needs yet common problems for residential developments. On top of that, these real estate developers will be available whenever you need them. You can call them up or reach them online!
Benefits of Working with a Credible Real Estate Developer
Of course, it’s a given that some real estate developers are better than others. It may seem convenient to settle for the first developer you meet, but actively searching for a reputable developer surely has its perks! Check out these 3 benefits of working with a credible real estate developer.
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High-Quality Developments
Imagine the horror of walking into your property, which you’ve owned for less than a year, and discovering a significant crack or a leak! A credible real estate developer can assure you that you’ll never find yourself in such a scenario. Instead, you’ll have a well-constructed and long-lasting property that you can even pass on as inheritance, further increasing its value.
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Timely Project Completion
It can be painful to postpone your family plans just because the property you invested in wasn’t completed on time. However, a credible real estate developer does their best to meet their construction deadlines without compromising quality. And in the unlikely case that they don’t finish within that time frame, they’ll readily give you a heads-up so that your family isn’t left hanging.
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More Perks than You Bargained For
Choose a credible real estate developer, and you won’t just be buying a unit or a piece of real estate. You’ll be stepping into a new lifestyle, especially if you’ve gotten a unit in the middle of a rising lifestyle hub! This means you can give your family the comfortable life you’ve all dreamed of, and at an affordable price to boot.
Keep this guide with you while you find a credible real estate developer to work with! Aside from offering a comfortable property surrounded by modern conveniences, the right developer can also grant you some well-deserved peace of mind.
One real estate developer you’ll want to consider would be CitiGlobal. Centering on the key phrase “affordable leisure,” we aim to make a comfortable life accessible for every Filipino. From our visionary approach to our crisis management skills and eye for opportunity, CitiGlobal has the expertise to back up our commitment. Take a look at our gallery of testimonials from valuable clients, too!
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