To Finance, Our Not to Finance...an Overwhelming Question
Whether Tom and I will be able to start construction on the house this year seems in doubt. The last two months we've been investigating some different financing options. Tom called banks and visited two. I checked books out of the library - Idiot's Guide to Building Your Home, Building Your Own Home for Dummies, etc. Reading up on the sections that discussed construction loans and financing. We went and spoke to a mortgage broker, which helped me get a better handle on what we're endeavoring to do. Here's the truth. We have many things that aren't in our favor. First, we want to build in a rural area, on a piece of property that is off a dirt road, a portion of which is not county maintained. Second, there aren't any comparable houses in our immediate vicinity, which can, and probably will, impact the appraisal. Third, we're having to pay for a lot of things that probably wouldn't be a factor if we were in an urban area. Like putting in a we