Updated over 5 years ago on .
Lot for new construction in Apple Valley, CA
I am posting these questions because I don't want to repeat mistakes I have made in the past. What kind of things should I ask or find out about a lot before making a purchase. I pretty sure of the basics already like what utilities it will use, and if a water meter is even available. Also, I am pretty sure that I should find out what jurisdiction I will be obtaining building permits from.
Another question about this project is financing. What would be my best option for paying for this? I am thinking of a cash out re-fi on my existing home to get started (about 75% equity now). I think that would buy the lot and get a good start on construction. Then construction loan for the rest? Keep in mind, I am a newbie to building, so maybe I should just scrub my financing idea all together.
Any other things you all think I should consider? Input would be greatly appreciated.
We are planning on this to be our personal residence. Then selling our existing home after building.
Thanks in advance, Eric