I live in a southern rural town in the United States. My father-in-law has just gifted us 3.5 acres of his 40 acre property. It is basically an open, flat field of raw land with nothing in it. We are currently trying to come up with a plan of what to do with it. Family size is 2 adults, 2 kids.
We are currently renting an apartment for $800 per month. The lease is up in 2 months. The landlord is willing to let us do a month to month agreement if we need more time.
I have been pre-approved by a local bank to finance a mobile home, septic tank, and well. I already have all of the permits except the one to actually move a mobile home.
We are considering purchasing a single wide mobile home to temporarily live in on the land we were gifted and build a house next to it. Instead of doing the whole construction loan and mortgage route, would it be possible to build a house in stages? Any idea of where I could research or read about people doing something similar?
We've only begun looking into what we could do with the land. Any other suggestions are welcome as well.
Submitted September 06, 2021 at 06:54AM by Gas_Pumper https://ift.tt/3kX1ISm
