We are pretty dead set on one day building our own home. We dont have any idea where to start but we lnow the timeline is at least 4-5 years (right before our daughter is old enough to go to school).
So my idea was buy land now (just a few acres for under $100k). Pay the loan down over that 4 years and then when we go to build we will have accured profit in the property and could use it towards getting a construction loan for building the house. We have been in our current home for close to 9 years and will have a decent amount for a down payment on new loan etc.
Does this seem like a good idea or do i have the process of it all wrong??
Thoughts, advice? TIA PFA
by Aggressive_List_5994
1 Comment
Land is everywhere. But where and you need from that land/location is imperative. How close do you want to be to a hospital? 30 minutes? 10? Do you want to be somewhere that allows livestock? Are you allowed to drill for water? Will you have city water? You gotta move sewage somewhere.
Lot to consider. It’s import to lay out your priorities. And find a locality that aligns with them. Then find your land.