Construction loans - why does it take so long to get approved?

The construction loan process is often one of the most challenging aspects of building a home on your land. It can be a frustrating process, but understanding why it takes so long can help ease some of the frustration. Here are two main reasons it takes so long to get approved for a construction loan.

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Financing, Budgeting

Building on Your Land: Can I have my own contractors do some of the work?

So you're thinking about having a custom home built on your land and hiring a builder to do it, but you have a brother-in-law in the heat and air business who will give you a good deal on your heat and air. Can you hire the builder to do everything else but have your brother-in-law install the air conditioner and furnace?

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Budgeting, Building Process

Cost to Build a House: How much does it cost to bring electricity to the land you're going to build on?

Building a new house on your own land brings many challenges you don't face if you build in a subdivision. Of course, one of the main advantages of being on your land is that you're not 10 feet from your neighbor. But, that also means the electric company might not have had a need to provide electricity to your land before, so you'll have to arrange, and pay for, that privilege.

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Buying Land, Budgeting

Construction loan definitions - loan to value versus loan to cost

As I've said in other articles on the topic of financing, getting a construction loan to build a house on your land might be the most intimidating part of building. And it's certainly one of the most confusing. Some lenders love to use industry jargon, which makes it even worse. I've been in the building industry for 18 years, and I still hear terms I hadn't heard before.

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Financing, Budgeting

Cost to Build a House: Why builders over-charge for change orders

ThinkstockPhotos-76800247.jpgOne simple reason home builders over-charge for change orders: poor planning. Here's why it happens and how to avoid it when building a custom home on your land or the builder's land.

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Budgeting, Building Process

House plans that can grow with your family

Working with families that home school, have lots of growing kids, or both, we've learned a lot about how those families live and grow, and how the house they live in either supports or stunts their growth. Here we'll share some lessons learned about building a house for future growth.

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Home Design

Home Building Horror Stories: Don't Get Screwed Over by Your Builder

Are you thinking about having a home built on your land? One of your biggest concerns might be how to make sure you don't get taken advantage of. There are lots of variables, you have your family's financial future at stake, and you're worried your dream could evaporate in a cloud of over-budget mistakes or shady contractors. You can avoid the horror stories, armed with the right knowledge. Read on...

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General, Building Process

House Plans: Future-Proof Your Custom Home

Building a custom home on your land is all about getting what YOU want, not what some builder thinks you should have. But, there are so many things to think about, how do you know you covered it all? Here's how to think it through so you won't have regrets after you move in.

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Home Design

Construction Loans: How do I pay for a custom home?

Paying for a house that's being built on your land is very different from buying a new house from a builder, or even buying a custom home on the lot a builder owns. To build a custom home on your land, you'll need a construction loan. This article talks about the basics of paying for a custom home built on your land or lot.

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Financing

Cost to Build a House: How Size, Features Affect Price per Square Foot

Before you shop new houses or builders by comparing price per square foot, get the inside scoop on what really goes into that number.

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Home Design, Budgeting, Building Process

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