What Are The Benefits Of Owner Builder Construction Loans?
If you are interested in an owner builder construction loan, the first thing to consider is that the interest rate on a loan of this type will be slightly higher than a traditional loan. Using an owner builder construction loan means building valuable equity. General Contractor’s can charge up to 20% of a property’s value as their fee. If you act as an owner-builder, you turn that 20% into instant equity. You must consider if the higher financial costs are worth these savings and remember that this equity is not free-you will have to work for it. Building your own house using an owner builder construction loan will allow you to make savings on contractor fees but will still cost you time and effort. If you would like to earn equity, have control and build a house in just the way you would like, the owner builder construction loan route may be for you. If you would find out more about how to finance building your own home, here is a great resource for information about homes loans and l
