Buying property and building a new home. Whats the best way to go about it

I’ve been in my house for about 11 years now and looking to upgrade. Due to not wanting to take our kids out of their school and the location in New York I live options are really limited to almost impossible to find one that fits our wants/needs. I have found a property right by us for fairly cheap and in a great location to build a house.

Im starting find builders to see if the property is good for a house and the cost for clearing/utilities/house it self is feasible and worth it.

I currently have a Va loan and like 400k+ in equity on my house. I was going to try and get a VA construction loan for all the benefits of no Downpayment, pmi and lower rates. I know they have I belive a 12 month period to get the house built down. Which idk would be enough time to get the property, clear it, permits, utilities and actual construction done.

Was thinking to take either a heloc or fixed rate loan against my house. Use that to purchase the property, clear and prep the land, permits, architecture, and all that done then get the construction loan for the actual building.
Once it’s all done would be selling my current house and using whatever profit I have to pay towards the construction loan and refinance to a regular VA loan if necessary.
This is all pretty new to me so any help or info would be greatly appreciated

Posted May 10, 2026, 10:11 PM UTC

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