My boyfriend and I own a lot with a house on it but we would also like to build on it as well. What is the first thing we need to do?

Asked by Valerie Alcala, San Antonio, TX Wed Aug 1, 2012

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Rosie Kelch’s answer
Rosie Kelch, Agent, San Antonio, TX
Wed Aug 1, 2012
Hi Valerie,

Building a house is not an easy task... First thing I would recommend is that you find a mortgage lender that will help you get qualified... I know of a few builders that work with Mortgage lenders that will do this for you, I will happy to help you with any process that you may need to get started... Please don't hesitate to contact me if you have any questions...

Rosie Kelch
210-846-3027 mobile
thesingingrealtor@hotmail.com
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Darrell D. D…, Agent, Schertz, TX
Wed Aug 1, 2012
Ok, now that you've been given the lender and contractor advice, I'll throw something else in the mix. You didn't say you were remodeling or building an addition, you said "build on it as well..." If this means you plan on building a second dwelling on the lot, then 2 things to think about before lenders and contractors are deed restrictions and any zoning issues which would limit or dictate what you may or may not do. Good Luck.
0 votes
Jason Campbe…, Agent, San Antonio, TX
Wed Aug 1, 2012
Oh man is this a fun one!! Now... before you get started... know that you will need to have some patience... this is going to be a bit of an uphill battle, but it can be done..

Step one: Contact a lender that does "interim construction lending" :

http://www.txmortgage.com/Interim
http://www.bankofamerica.com/BusinessCapital
http://www.broadwaybank.com/personalbanking/Loans-InterimCon…

They will tell you how to proceed and what the newest rules are.

I did this once... and looking back... I'm not sure it was worth it. It would have been better for me to sell the whole thing, and go buy what I really wanted somewhere else... but my situation was different than yours is I am sure :)

Jason C Campbell
Option One Real Estate
210-389-5266
.
http://www.SAHomeExpert.com
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Aug 1, 2012
You need determine if you can obtain financing to build then contact contractors who can work within lender approved amount

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

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