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Want to build a home in the future, what are my options?

I own land free and clear (2 acres) in central Florida. I gave an offer for $20k below asking and seller accepted. Based on comps I walked into some good amount of equity. No wetlands, no endangered wildlife, survey is good.

My goal is to eventually build a dream home for my family whenever we outgrow our current home (current is a 3 bed 2 bath 1350sqft). I’m thinking in 3-5+ years.

I have about $160k equity in my current home, purchased it pre Covid and rate is sub 3% 30 year so it’s perfect for renting out.

My question is, where do I go from here aside from saving for the future home? I was thinking of owner self build, I have a lot of connections for subs but I never built my own home so it seems like a terrible idea that can have costly mistakes since it’s not my field. GCs seem booked out but the market can change whenever I decide to build.

Right now I’m thinking of clearing the land for cheap so I can get a better visual of it and install a stilt fence to keep out animals. Should I do this?

What’s anyone’s experience with custom built or owner built homes? Any caveats with construction to perm loans? My goal is to provide at least 35-40% of the upfront down payment.

submitted by /u/FIREGenZ
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source https://www.reddit.com/r/RealEstate/comments/1169243/want_to_build_a_home_in_the_future_what_are_my/
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