Credentials / Track Record
Credentials provide buyers a peace of mind on knowing that a developer has sufficient knowledge and expertise in developing a property. Track Records provide buyers a sense of what to expect in terms of style, aesthetics, design, quality and a developer’s identity. As the saying goes “Practice Makes Perfect “, therefore, a long standing track record in property development translate to seasoned experience. From all of the past projects, buyers should get a sense of a developer’s identity. Are they niche? Are they mass-market? Are they luxurious oriented? Are they geographical oriented? For example, one of Oxley’s key considerations is prime locality.
Projects meeting legal expectations and requirements
Developers who are established will no doubt be more familiar with the legality aspects of property development. This is especially essential in Singapore where many legal measures are in place for the benefit of buyers and to keep developers in line. A reputable developer for the sake of its reputation will adhere timely and strictly to these requirements which can only ensure a smooth purchase and move-in process for future home owners.
For example, less seasoned developers could fail to meet the Controller of Housing’s requirements for a sale licence which is a testament to their track record since track record is one of the COH’s assessments metric. Therefore, track record plays a role. Such incidences will only inconvenience buyers.
In other scenarios, safety requirements may not be met and thus, delaying the TOP and that could adversely affect a buyer’s timeline for moving.
Big names place heavy emphasis on brand recognition and reputation. Developers want to be well-known for all the right reasons that will help them stay competitive and gain an edge in the industry. For renowned developers, they have all the more to lose as it takes years if not decades to build up a company’s reputation and brand. Therefore, they are more motivated to attain customer satisfaction by providing fine quality products. As a result, buyers of new homes will receive tip-top condition plumbing, draining, furnishes and fixtures etc.
Apart from the elements of the unit itself, established developers also monitor the entire construction process making sure everything is in check from the quality of construction material, to testing for soil compactness, to drainage engineering and more.
Concept / Amenities make all the difference
As buyers pour their hard-earn money into their new homes, it is only fair to say one will expect more than a basic brick and mortar home. The appeal of private residential is in its lifestyle and concept. Developers like Oxley who consider attractive lifestyle features and great designs to be two of their project development metric will aim to achieve exactly that. Big developers will have more resources to innovate and eventually deliver on various features that will culminate in to A Rich Lifestyle which will ultimately be enjoyed by the buyers.
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