15 May Why it’s Important to Research a Builder’s Track Record
Investing in property is a big commitment, which is why selecting the right builder is key to the success of your investment.
The track record and history of builders can impact the quality, durability and value of your property, so research is essential for both new and experienced property investors.
Construction Quality
A builder’s past projects will give you an insight into their construction quality. Look at their completed developments to see what materials they used, if they adhered to building standards and the overall standard of their workmanship.
High quality construction not only ensures the safety and longevity of the property, but also safeguards its market value. If you can, visit previous projects to see the quality of their work for yourself.
Adherence to Timelines
Timely project completion is critical in property investment, as delays can result in additional costs and lost rental income.
A builder with a proven track record of completing projects on time shows reliability and good project management.
Wherever possible, you should research a builder’s history on project timelines to avoid the pitfalls of construction delays.
Builders Need Financial Stability
A builder’s financial health is a crucial factor that can affect any construction project.
Financially stable builders can manage resources better, handle unexpected issues and deliver projects without compromising on quality.
It is extremely helpful to research a builder’s financial background in order to have confidence in a builder’s ability to see projects through to completion.
Legal Compliance and Transparency
Reputable builders will always comply with local building codes, regulations and obtain necessary permits, ensuring that their projects are legally compliant.
A builder with a reputable track record will also maintain transparency in their dealings, provide clear contracts and open communication.
It is also advisable to research a builder’s history for any legal disputes they have been involved in or compliance issues they have experienced in order to avoid future legal troubles for investors.
Customer Satisfaction and Reviews
Previous clients can give you valuable insight into a builder’s reliability and workmanship. Positive reviews and testimonials show a builder’s commitment to customer satisfaction.
This is why it makes sense to check out a builder’s reviews on various platforms and, if possible, speak to past clients to get feedback.
Builders Should Provide Post-Construction Support
A builder’s responsibility doesn’t stop after project completion. Offering warranties and post-construction support shows a builder’s confidence in their work and commitment to customer satisfaction.
We always advise clients to look into a builder’s after-sales service history to see the support they provide in case of post-construction issues.
Assess a Builder’s Reputation
A builder’s reputation is built over time through good quality work, on time delivery and ethical practices.
Talk to real estate professionals, check out industry awards and read reviews to get more insight on a builder’s standing in the industry.
Speak to Michael Lawton and Danielle Charlton at Power of Property
Michael Lawton and Danielle Charlton at Power of Property use their experiences, research and industry insights to help property investors navigate the real estate market.
With years of experience, they help their clients to identify reputable builders with a proven track record so that their investments are both safe and profitable.
They also offer personal property strategy sessions where they share investment secrets and help clients avoid common mistakes.
Get in touch with Michael and Danielle to arrange a free property investment strategy session to find out more about how their knowledge of the industry can help you choose investment properties that are constructed by builders with strong track records of successful projects.
The value of finding builders with a strong track record
Researching a builder’s history is essential for property investors to be able to make informed decisions.
By looking at construction quality, adherence to timelines, financial stability, legal compliance, customer satisfaction and post-construction support, investors can minimise risks and maximise the potential of their investment.
Take advantage of the expertise of Michael Lawton and Danielle Charlton at Power of Property to give you greater confidence and knowledge when navigating the Australian property market.