I bought a lot and then met with my builder. For what I wanted he recommended an architect. We have spent over a year designing the house and mitigating wetlands. With it takes patience to make sure everything is right, going back and revising the plans, etc. If the house is $500,000 or less, and the builder owns the lot, just go with one of his Floorplans he has access to. Design takes time and money, and usually builders have the complete package ready for their owned lots.

If you go get the lot on your own and then look for a builder,it will take longer to complete the build. IMO if the house is $800K and above I would get an architect. Yes it costs money, but the house is unique, suited to your needs, and valuable.

A builder who already has a lot can complete the house much faster than if you started off at square one with just a lot.

I got a lot loan, and the bank told me that it will be no issue to roll over the lot loan to a combined new construction loan if needed. I paid the lot off already.

When it comes to new construction, patience is a virtue.

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Posted by Powerman

Member since Jan 2004

162266 posts

Posted on 1/18/23 at 6:10 am to Mariner

quote:
A builder who already has a lot can complete the house much faster than if you started off at square one with just a lot.

I got a lot loan, and the bank told me that it will be no issue to roll over the lot loan to a combined new construction loan if needed. I paid the lot off already.

When it comes to new construction, patience is a virtue.

Thanks. These are some things I need to consider. I have a couple of builders in mind and don't have an issue with it taking a long time. I have a rental where I just extended my lease a year.

House I'm looking at building will probably be in the low 300s. Looking to downsize compared to my previous house that would probably go for a little over 400K right now.

Bad thing is I'm going to have to pay more to get the smaller house I want to build than what I paid for the bigger one initially