Friday, June 11, 2010

So i want to build a house. what is the 1st step? buy plans?go ask the bank? go to the VA?

what do i need to first? buy the plans and go to the bank? go to the bank and buy plans?buy land.. the get plans?go to the bank buy land then buy plans? go to the VA for the loan?


I've posted almost the same question so I'm hoping you get more answers.

I am building my first house and here's what I have found out so far. I am in the process of buying the land first. I have also gone to different sites to look at floorplans. You need an idea of what you would like. You can do either first I think. If you get the land first than you know what size of house you can build. If you get the floorplan first then you know the size of land you have to get.

Talk to the bank, mortgage broker, and/or VA to see what needs to be done, in what order, and what you can afford. You need to see if you can get a mortgage for the land and then a construction loan for the house. Some will let you and some will not.

Good Luck!

Depending on where you build there may be zoning restrictions on the construction. The township/county building inspector can help you.

Here is what I would do:

1. Determine the size and style of home you wish to build. Sketch it out if you have to.

2. Scout out possible locations where it could be built.

3. Consult with an architect who is knowledgeable about residential housing in the area you wish to build. You may wish to build a home and the local zoning laws won't allow such a home. A good architect will tell you that.

Cities and towns can be very restrictive on the types of residential housing they will allow. Square footage restrictions, height restrictions, exterior color rules, and on and on.

You don't want to buy a lot and learn you can't build the home you want on that lot.

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