What Does a Buyer Look for in a Real Estate Development When Choosing a Property to Purchase?
Purchasing a real estate property is an investment that takes a lot of time and consideration for a buyer. From a developer’s point of view, what are the things you should emphasize when you’re trying to attract customers? In one of our previous articles, we talked about what the people are looking for on the property’s website, but right now we want to focus on the actual developer.
In this article, written from the perspective of a real estate buyer, I’ll talk about the four features the majority of us are most interested in when we are looking for a trustworthy real estate developer.
What have you built before?
The first thing I look for is the property that I like. This preference is based on a variety of factors – location, neighborhood, the layout of the apartment or house, etc. I want to be able to envision myself spending a lot of my time – living my life – at this property.
But the question that comes to mind next inevitably is – who will build this dream home of mine? None of us can really get a glimpse into the future, however, we do have access to the past in a way. We can check the real estate developer’s previous projects and experience.
Did they build something similar already? What do their clients say about the properties they have bought?
For the developer: make sure you have testimonials from previous clients on your website or on YouTube channel. Hearing real people talk helps other real people make purchasing decisions.
Having a well-described portfolio of your previous projects on your corporate website is also a must because it helps to “put a face to the name” in a real estate sense. Instead of just imagining what you’ve built, people can actually examine your work.
How good is your real estate?
Will the house I purchase serve me and my kids for years to come? Will I have to deal with a lot of maintenance? How does the construction affect the surrounding nature? These are also questions many people ask. Sustainability is becoming one of the hottest topics.
For the real estate developer: mention the materials that are used for the construction of the apartment complex or house. Show your certifications that will help to put the clients’ minds at rest before the sale. Talk about the eco-friendliness or optimized maintenance costs due to energy-efficient approaches.
When will it be ready?
The terms of the construction are another important topic for the customer. Many are renting their homes and the timeline when they can finally move to their new house or apartment is important for planning.
Besides the general timeline of the project, customers are interested in knowing whether the real estate developer usually adheres to the deadlines.
For the property developer: communicate this information about the current project on the property website and also ask your previous customers to mention this in their testimonials on your corporate website. Time is an invaluable resource and when you show that you consider your customers’ time, it also shows that your respect.
How much does it all cost?
Finally, we come to the last, but not least, question: how much does the property cost? While it seems like a straightforward question, it’s important to understand what’s included in that price tag. The more transparent the developer is about the costs, the best.
For the client: according to the statistics, only 3% of people who would like to be homeowners in Switzerland actually get their homes. This is caused by the fact that “Swiss regulations require a substantial financial burden to access it (20% equity capital plus acquisition costs.)” One of the ways to deal with this issue is signing up for EVAhomes program.
How does EVA work? Learn in the video:
For the real estate developer: on the property website, besides the general price of the property, talk about the payment plans available, remodeling options, and other extras that are (or can be) included in the final price.
Homeownership is a great achievement for people. Whether they live on their own or they have (or plan to have) a family, it’s important to have a place to call home.
So, how can a real estate developer ease some of the fears of the clients?
- Talk about your previous properties and experience
- Ask your previous happy customers to give their feedback (in video or written format)
- Mention the expected project timeline and the previous experiences with sticking to deadlines
- Be transparent about the costs involved in the real estate purchase