Is it possible to move house to house?
March 23, 2011 9:14 AM Subscribe
I am building a house...when do I sell mine? Who do I even ask?
posted by arniec to work & money (5 answers total)
We have just hired a contractor to design a new house for us. Of course, we will have a mortgage, but we need the equity out of our current house as the downpayment on our new home.
In an ideal world we would just move from our current house to the new house and only move our stuff once. But with the housing market being what it is we're not sure when we should first list our house or how long it would take to sell.
We have enough money to buy the lot free and clear, which will be about 1/8 of the total cost of the home... We don't want to pay interest even for a short term for more than we need to...
We are going to meet with the banker for the construction loan fairly soon, but we wanted to know what to expect. We've never built a house before...any advice on the money parts so we know what to expect going in would be appreciated.