If you are unable to find the house of your dreams, you can build it yourself.
Building a house does not necessarily require skill in carpentry. In various house kit solutions, for example, the frame structures, insulation and cladding materials are purchased all at once with installation included. You can also commission the construction work on the lot fully or as subcontracts from different contractors.
First, you should draw up a rough overall estimate of the available budget and schedule. In addition to construction, also reserve time for designing and taking care of permit issues. Also leave some headroom for surprises; only seldom are there construction projects where there are none.
Get your financing in order
Do not hesitate to ask for financing from the bank right away when you begin planning. The collateral for a loan for building a detached house is usually the property being built, or the lease to the lot and the detached house located on the lot.
Although the collateral value of the property being built increases as the construction work progresses, you will usually also need other collateral, such as your current owner-occupied home, investment assets or other assets. You can apply for a bank's loan guarantee or a State guarantee as additional collateral.You can assess your solvency and need for a loan with a loan calculator, for example.