Quote:
Originally Posted by DETRoadster
I don't get it either. My wife and I just bought a 1/2 acre to build a house on and are seriously considering just sitting on it for a year or two to see if costs stabilize. Of course the risk is that interest rates spike and we end up screwed either way.
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The plus side is that you have the land. Something to consider though happened to me years ago. I bought a large lot, about 4.5 acres, and sat on it for a few years before building. The problem I ran into was nobody wanted to give me a mortgage because I owned the land outright. They didn't want to be holding a mortgage without claim to the land the house was sitting on. You might want to check into that with your lender of choice just so you know where you stand.