Whether building or buying, the best decision you can make is an informed one. Have you ever built a home? If so, what are some surprise expenses to plan for? Which do you think is more expensive – building orWhy You Should Buy Less House Than You Can Afford; The Challenge of Moving to a Smaller Home
Closing Costs On Construction Loan Closing costs: You’ll refinance the loan into a mortgage once the home is built and appraised. Some lenders will treat them as two different loans, in which case you might have double the closing costs. Or you might have a construction loan that will convert into a mortgage once the home is built and appraised. Look into both options.