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Building your own home - how'd you finance it?
I've been thinking about building my own place and did some digging around on financing. Seems like you gotta have detailed plans, a solid budget, and a lender who's cool with self-managed projects. Anyone tackled this differently or got tips to make it smoother?
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The self-managed option can work, but did you confirm how the lender handles construction-to-permanent draws? Some require staged inspections and documented releases, so the financing timeline needs to be built into the build schedule, especially before ordering materials or lining up trades.
Since you’re looking at a self-managed build, does the lender require a separate contingency reserve in addition to the stated budget? Site surprises and material-price changes can otherwise leave the project short before the next draw, even with staged inspections.