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2 months, 3 weeks ago
2 months, 3 weeks agoViewing 2 posts - 1 through 2 (of 2 total)
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I don’t know much about finance, but we have renovated from the ground up and over the past 15yrs we have borrowed about 5 times for different stages of the renovation, each time we’ve just increased the original loan.
And I ended up comparing construction loans with Fix and Flip loans https://youland.com/products/fix-and-flip-loans since we were also considering buying a place, fixing it up, then selling. The structure and purpose are pretty different though — Fix and Flip loans are short-term and interest-only, made for fast turnarounds. For building a home from scratch, construction loans made more sense for us because of the staged payments and longer timeline.
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