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

Going through this process now. My plan was to buy a lot, sit on it for a couple of years until I was ready to build. Started looking around in 2018 or so and didn't find any that I really liked for the price. Got wind in 2019 of a new subdivision in a great location that was about to go on sale. Found a copy of the subdivision map through City Council Agenda and contacted the developer with my request right before went on sale. I went to a local bank to get a lot/land loan that was 100% financing and 6% for 10yrs.

I sat on it for a couple years and then early 2021 (terrible timing) decided to start looking at plans/contractors. Found some online plans and a couple apps to draw up a Floor plan myself then brought it to a professional to make the full plans. Finding contractors to provide bids around this time was difficult due to the all the issues at the time but finally got 2 bids. Then hurricane hit and I had to pause to take care of damage on my existing house.

January 2022 I selected a contractor, who had to update thier cost. Reached out to some of the banks around town to get ideas on constructions loans. Decided to go with Hancock construction to permanent. It's a one time close and I was able to lock in at 5%. I'll have the option to "float down" (doubtful) when construction is complete. 1st thing they did was pay off the remainder of my lot loan. Broke ground Jun 1st. Hoping to be completed by end of March.