House building and time it takes to build.?

if i got a house plan and buy some land for it to be built on. Can it be up to me in deceideing how long I want it to be complete. For example if I knew the building process would have to be stretched over 2-3 years instead of the full time 12 months Average time due to financial reasons could it be done this way. Like geting builders to complete each section at a time.





Also is there any discount for frist time buyers when they want to buy a house and land package.





ThanksHouse building and time it takes to build.?
Construction loans cost more than home loans, stringing it out will get very expensive. You will need to get financing for the construction as a whole, not piece by piece. Unless you have another type of financing available, or have your own money. Where ever you build my have restriction on how long it can take.





Many banks will release the funding in stages. I don't think banks will want it to go for 2-3 years, some might. The bank may also require you to use a contractor and you will have to see what type of time line he will work on.





There are so many variables when it comes to building. There is no way you can predict exactly how long construction will take. The banks understand this. Availability of materials, what may seem plenty today can be gone when you need it. Sub contractors, you can't do it all your self. Permits, waiting for the inspectors. Weather, can't control that. Banks will have limits on how long you can have a construction loan for.House building and time it takes to build.?
Because the economy is so bad right now, and the housing market bubble has most definitely popped you need to take advantage of this time. You can get more bang for your buck if you ask contractors to work now, because most of them have very few projects and are probably willing to negotiate. Building a custom home has a lot of advantages, such as getting exactly what you what, as well as putting in your own fixtures.
lenders will not loan money on a 2-3 year project. It usually takes 6-8 months to build. This is the amount of time the lender will give for a construction loan.





PLUS, you!! are paying interest on the construction loan.





No (and why should there be?) and discount for first time buyers.





It sounds like you are not ready to buy.
if you acted as general contractor you would control the timing completely. No discounts available.





New construction is huge premium right now over existing homes.

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