If you’re buying an off-the-plan property, doing business with a developer/builder is a good way to ensure your investment comes off without a hitch.
Developers and builders have two distinct areas of responsibility for any property. When one party assumes the duties and responsibilities for both, the benefits are passed on to the buyer.
First, let’s look at the developer’s role in a new property. The developer is the first person to imagine what a piece of property might look like with dwellings on it. They develop a vision for the entire property. Developers purchase the land and prepare it for construction. These activities include:
In short, a developer gets everything ready so construction can begin. It can be a lengthy process but developers take a long-term view of an investment. The property developer will sell the land to a builder or hire a builder to construct the buildings.
A builder is distinctly different from a developer and has different tasks. It’s common for builders to buy a finished lot from a developer. Builders operate like manufacturers with a goal to buying materials and supplies ‘just in time’ and selling the properties as quickly as possible. Builders prefer not to hold their investment for a long time.
Builders are responsible for constructing the buildings. They manage the construction site, coordinate tradesman, work with architects and ensure the finishings and decorating is done properly. If a house has been sold ‘off the plan’, they’ll also consult with owners on customised decorating.
There are companies, like Psaros, who manage a property development from the very beginning all the way through to selling the completed dwellings to the public. Working with a developer/builder holds many advantages for the future homeowner.
Developers and builders have distinct goals that can sometimes be very different. When a single company is managing everything, the buyer benefits from a single focus. The property is managed and constructed from one viewpoint making it easier for the buyer and more cost effective.