Help with questions about construction loan

Some land has become available that I'm going to try to purchase. I would prefer to roll it into a construction to permanent loan to save on a one time closing as well as getting a lower interest rate going with a structure vs raw land. However with lumber being what it is I'd like to hold off until prices come back down. My idea was to purchase the land and essentially build a small structure to live in and once prices come down I build my actual home and turn the old structure into a 2 car garage. Does anyone know how the bank would handle this or if it's even possible? Would this cause any problems when I go to build my permanent house?

Doing this would save me money in the long run as well as allow me to sell my current home during this market and have somewhere to go that would still benefit me in the future.