Hi J,

Depending upon the site preparation and permitting requirements a new home can take 8 month to 2 years to be built. If you are looking at a site with the utilities, sewer, improvements and approvals in place, most builders can build your home in less than a year. If you are looking at raw land, without building department approvals and site improvements in place, it will take much longer. When you buy from a builder and require financing you typically pay the downpayment up front and get a bridge or construction loan to start out --which later converts to a conventional loan. You have to have the downpayment and a sizeable amount of capital up front, because the bank will only make disbursements to you when you have demonstrated a certain percentage of the work has already been completed. To be clear you basically have to pay the builder up front, prove the work was done, then get a partial payout from the lender. The market for new construction has softened significantly in Rockland county and across the country. Some builders do offer owner financiing or other incentives. There are many good builders in Rockland County. We have a listing in south New City-- a new 5 lot subdivision with the site work, utilities and approvals in place. Two of the lots already have foundations installed and are ready to be built upon. If you are interested in looking at this site (MLS #464821 ). There are at least 6 listings in these 3 towns for available land, and 10 for homes built since 2007/to be built. If you are not already working with an agent, I highly recommend you work with one. The seller/builder pays the commission and you benefit from the guidance of a real estate professional who has extensive knowledge in the many steps required to build a home. Feel free to call me with any questions and good luck. This is a great time to build a new home. Interestes rates are low.

Maureen McEnroe
Lic RE Broker
Joyce Realty
mmcenroe@joycerealty.com
914-588-1873