Advantages of buying properties in turnkey construction projects
The turnkey is the jargon used in the real estate industry where the construction of a property is finished to the last detail and the owner just has to turn the key in the door start residing. In short, the developer or contractor is concluding the project and handing the key over to the client.
The turnkey accountability ensures that the contractor will do everything from sketching plans to completion of the project. This will give you the peace of mind and ease the hectic process.
Here are some of the benefits of building or buying a Turnkey project property:
No multiple contracts
The turnkey project will ensure that you get the key after completion complete construction and designing of the space is done. With this arrangement, you don’t have to make dealings with multiple service providers. You can make a contract with a single builder, without taking the burden of making any contract with various parties for different services.
Minimal liability and on time delivery
Owing to the fact that the contractor or developer owns the building till project completion, he will take the maximum liability and responsibility to finish the project and deliver on time. Also, he will get paid full amount only on project completion. In order to get paid on time, the builder will be motivated to finish the job at the earliest, and efficiently.
Stress-free decision making
Most of the homebuyers are unaware of the design and other complicated decisions when it comes to building construction. It can be real pain to all the homeowners. In turnkey projects these decisions are the headache of the builder or developer, inexperienced owners can stay de-stressed from making decisions on complicated construction matters. Those decisions are left solely in the hands of the contractor who is providing the Turnkey Solution.
The turnkey project provides the flexibility to the property owner in terms of payment for the building construction. As the owner needs to pay for the project only after it is completed, he has plenty of time to find investors and financing to make the payment. It will also offer more time for you to strive for financing and investors if you are broke to pay the required fee for completed project at the final stage apart from the part payment as per the payment plan prescribed at the earlier stage.
Pay for what is quoted
With the turnkey projects, you don’t have to worry about sudden or unexpected rise in the resource costs. What you will be quoted by the project contractor at the time of agreement is what you need to pay for them. No extra expenses that you didn’t count on.
Turnkey is the best way to proceed, the reason being contracting on your own is not a good idea as every department has its own level of proficiency and one should strongly consider that before managing one’s own project. In India, many contractors provide turnkey solutions. Choose the renowned and trusted contractors who provide a Turnkey solution.