re: Looking to build a new home and looking for some advice on how to go about it

As you are going through the land purchase, start working on your house plans. This phase can take a lot longer than some expect. Once you have your plans, the builders have something to work with. You should also get multiple bids. Home materials are down, but labor is up. As the previous poster said, it’s a crapshoot if you don’t get a rate lock in your construction loan. I would recommend building and refinancing later when the rates are much lower. You can try to wait out rates, but nobody really knows how long it would take before they come down a substantial amount.