Hey all, After speaking with several banks, I’ve decided to buy a plot and build a custom small house over a 3-4 year timeline using a staged construction loan. Here is the financial breakdown and structure I’m setting up: Land Plot: €50,000 Construction Budget: ~€200,000 Total Project Cost: ~€250,000 I’m contributing 20–30% of the overall project cost out-of-pocket, paid progressively on a percentage-of-completion basis over the 3-4 year build horizon. The bank is funding the project in staged tranches tied to engineering progress checks. I get a 2-year grace period during construction, paying interest-only on the outstanding drawn amounts (working out to around 50% of a full installment for the released capital at any given point). 30-year amortizing term, though I plan to make extra principal contributions and pay it off earlier once built. By funding via staged completion draws, I avoid tying up a massive lump sum of cash for down payments upfront. Building from scratch thr...
Husband and I bought a house with cash (325K) in late 2024 in a small town. My job is here. Husband’s PT but his job is also here. House is lovely, community around it is eh. Nice part of town, but it’s one of those things of not fitting in despite efforts of ours to try and do so. Small town life may not be all it’s cracked up to be. We are near a larger city which we visit frequently and feel more “at home” in. We don’t want to make any sudden moves because this could get exhausting/expensive really quickly. We’re looking to move eventually, but what are the risks of putting a house on the market, for example, in the spring of 2027? As a buyer, would you balk at a short turnaround time from the house last being for sale in 2024? submitted by /u/elegant-deer19 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1vvkjav/too_early_to_sell/