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

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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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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