New construction can offer many incentives for interest rate buy downs.

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

Lots of research first through Zillow , real estate agent, and family members led us to Queen Creek and New home constructions.

Can you do contracting work on properties and learn valuable skills that will help you remodel properties, flip them, or otherwise learn as much as possible about the construction trade? 

There’s a lot of construction, which could hurt both prices and vacancy rates.

To fully illustrate this, there was a poster who was looking for 100% financing for construction in Philly but also wanted the lender to advance costs for the initial phases of construction.

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

@Rosmery ThenMy partner and I are in the same situation, just he has 20 years of construction and development experience.

Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

However, the journey has been anything but smooth, and we are now at a critical crossroads.Despite securing approval for our 42 townhouses, the soaring construction costs have made the project financially unfeasible.