Owner builder construction can save you 15% to 35% during the construction of your own home by cutting the costs of hiring a general contractor. However, if you don’t take the planning and construction seriously, then you could end up losing a lot of money and your dream home. Therefore, you need to have these four attributes to be a successful owner builder.

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It is hard to find construction financing when you want to build your own home as an owner-builder. When looking for the loan that is right for your scenario, make sure you see the big picture and look for the right features in your loan. Otherwise, suffer the consequences.

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A good owner builder construction loan will have only one closing to cover the land purchase, construction phase, and conversion to your permanent financing. Therefore, the owner builder loan will have two sets of interest rates: one while you build, and one rate for when you move into your new home. Every owner builder should understand the inner workings of these rates when planning to build.

Source: The Real Articles: Finance | Stock Market Investing