I've mentioned before that we are saving to build a house. We have put that off until at least next year because we're not as organized as we should be if we wanted to build this year. And we need more money. Y will be doing a good majority of the work for our house. He will be doing most of the interior including the plumbing, electricity, drywall, painting, and flooring. Y might be doing the taping and texturing depending on time and money.
I know that we will have a very difficult time getting the financing for the house because we want to do part of the work and we'll have time constraints with a construction loan. Most construction loans are only for 6 months maximum. I think that there are a few local banks that will stretch it to 9 months. This puts us in a very difficult position because we really want Y to do a lot of work. That will save us a ton of money. Actually, it probably won't really save us money but we will be able to afford a better house for less money. Better in that it will have the amenities that we really want like a large kitchen, master bath and walk-in closet. To be honest, if we can't have the amenities that we want, we will just wait longer to build.
A part of me just wants to quit trying so hard to save. We can just finance more of it and hire out more of it so we can fit into the bank's time constraints. I have not talked to a banker regarding a construction loan yet. We are waiting to hear back from a very highly recommended builder. I'm really hoping that we will like his quote. I already know that he does quality work and I've heard that he's very affordable, too.
Has anybody else built? Any advice?