This is a pipe dream/curiosity question, inspired by a vacant lot for sale in my neighborhood. What are different ways to finance buying land and building on it? How is it impacted by the fact that you probably have to keep renting while building? Does it change based on if you're building yourself (maybe contracting out portions but not the whole thing), vs going through a builder?
Let's say the land costs $50,000 and the buyer could easily finance a $200,000 mortgage if not paying rent, but pays approximately the same amount as that mortgage payment in rent. (And it's a moderately small lot, so nothing huge/mc-mansion-y)
Submitted July 08, 2017 at 11:13PM by sarahshift1 http://ift.tt/2u5aDsQ
