How to Avoid Gambling Your Life Savings On Africa's Rogue Builders

Share:
The lure of profit has driven so many to rush into property development on the continent , but many of these would be property developers are not going about it the right way. And we are beginning to see the tragic consequences of their carelessness. Below are some common  of ways these developers incompetence are seriously affecting property buyers.

Delay in construction.
This is quite common and widespread and stems from lack of adequate planning on the part of the developer. We all expect considerable delays in construction, so if a developer specified that construction on a  project would begin in 6 months, it will make sense to assume  that it may take a few more months complete. Reports are showing that some developments take up to 2 years to even start construction and others start and get stuck halfway.

You can imagine how much problem this will cause for the investor whose plans for his future residence have changed drastically due to someone else incompetence. In particular the effect financially because most of the time the are paying rent simultaneously.

There is then the case of  "We are in our new home. but It just doesn’t look like one!"
This is another common one you move in and barely a year after you started living there, you  noticed that the paint was peeling away. It no longer looked like the brand new house it was supposed to be. Apparently, only a single coat of paint was given. Shoddy paintwork has made the entire building look old and tasteless.

Car park wars
Demarcating parking space may not seem like a big deal, hence and many developers will most likely take it for granted. But residents often discover how divisive this situation can be, we have seen parking space arguments lead to very serious disputes between neighbors. It’s indeed a shocking negligence for a developer not to provide this basic amenity for  residents.

Poor drainage.
Poorly designed drainage and sewage treatment should another the common problem is here is the lack of adequate outlet created for the sewage!  the builder always claims innocence but the reality is that the systems were poorly design, and residents end up just having to bear  the stink and suffer numerous other problems associated until the situation is resolved if ever.


The result of all these problems is that the residents are now left to form associations and try to approach the developer to rectify their mistakes. The developer never answers the phone calls and conveniently stays out of reach.
What’s worse is that the same developer would have started construction on another site and has diverted the current residents  money to fund its construction, while they continue to suffer and estates  also become infamous in the area for all its problems, making it difficult for residents to sell their apartments or even rent it out.

Key Lessons
Don’t get taken in by marketing tactics. Low, attractive rates often become high liabilities later on and promises are just empty words.
Before making the plunge, do your homework about the developer. Find out the condition of his other construction sites, speak to home owners who have bought apartments from him and ask lots of questions. No question is too silly or irrelevant when your life’s savings are at stake.

No comments