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Question for anyone who's built a house?

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  • 26-09-2006 7:42am
    #1
    homercles
    Registered Users Posts: 43 ✭


    Hi,

    Could anyone give me an idea what finance, etc, you need to secure if you wish to buy land and build a new house, all the while living in a house you intend to sell when the new one is complete? Is increasing your mortgage a valid option?

    I'm debating doing this but don't know anything about the financial issues involved.

    Thanks in advance,
    H.


Comments

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    #2
    Victor
    Registered Users Posts: 78,393 ✭✭✭✭Victor


    You can either get a new mortgage on the new site or remortgage the existing property if you have substantial equity in it.


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    #3
    paulocon
    Closed Accounts Posts: 1,171 ✭✭✭paulocon


    homercles,

    I know this is a bot off-topic but there could be problems with obtaining planning on a site if you already have a home. More and more County Councils are citing local needs as a requirement for planning. I know of a few people refused planning on family land because they already had a home...


    Like I said, off-topic but just something to bear in mind if you are buying land... as always, I'd reommend purchasing subject to planning being granted.


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