In my neighborhood, I'd say there is as much construction going on as there are homes for sale; A surprising amount or work going on, given the economy. Rather than moving out, many are adding on, fixing up and remodeling, spending their investment and vacation money on their homes rather than other risky or gas eating activities. Construction takes many things. The top Two: Money and Planning. You've got to have the money to get the plan, and the plan will show you how much money you need to spend, and it ain't cheap. At California Mortgage Advisors, I offer many New Construction loans as well as Cash-Out loans prior to construction on your existing home. Always make sure you have a nice buffer (cost over-run) as you'll need it. The Third financing option is Post-sign-off inspection. Once you're done with the construction, you might want to refinance to consolidate debts or take out invested cash based on your new value. I've got your construction Lending Trifecta: Pat Townsley, Mortgage Broker.415-485-1776. www.ptre.net
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