very noob question

1. can we buy the land using bank loan, and then refinance/mortgage it to build the house on the land?

2. or we take loan from bank with the land cost plus with the house cost? based on market value of the bungalow surrounding the land

is it possible?
huhuhu

I believe you can finance the loan for the land & building cost together. You can tell your bank how much you need, and you must build it in certain time frame, usually within 2-3 years. However, your margin might be low, around 80%. Call your bank.

i think ts should reconsider
1. the size - maybe build a semi-d with the extra 10' land on one side
2. seriously do a cost estimate taking into consideration all the fiiting because i think for 250k u will be lucky to even get a 'low cost bungalow' which is not something u would want and regret later. believe me a decent looking bungalow will set you back triple that budget. i just did major reno to my semi-d and it cost me 300k with just extension to kitchen (18X10), other work is just replacing tiles, sinks, toilet bowls, windows, painting, lighting, koi pond(26k), wiring, plumbing, grill, cabinet. The concrete work alone cost 55k, the finishing is just above average, not top grade sumore

but i see the juru height bangalo, the seperate the cost for me to see, the land is 167K ++, and the house cost is just 350K ...
but they are mass production 1, so the price maybe different.

waaa... can do that meh??
ok.. wil try ask the bank
tq bro

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Added on August 20, 2009, 4:42 pmof coz lor, if buy more raw material at large quantity, of coz got cheaper price
then developer can sell cheap to buyer

but the developer always play around that margin to maximize their profit lor


This post has been edited by nextstream: Aug 20 2009, 04:42 PM