If you can get the financing for it

If it was me, and you can get the financing for it, and your current house is in a town or something, you may want to consider renting it out.

I am in the process of purchasing a house, and we plan to live there for about 5 years and then build one. When we get our next house built, we plan to rent this one out. After 15 years, we will own 2 homes and have huge equity. Some of the stuff I’ve been reading on the net says that the best way to make yourself a millionaire is to purchase property and rent them out.

The downside is that you need to have a home in the right location. You need to become a landlord and find the right tenants. You need to be on top of the rent, and you have to do maintenance on two houses. If you are willing to do that, you will eventually have a lot of self worth.

Consider your options and plan it out that way.

Has anyone had an experience in building a new house?

We bought a house 6 months ago, but we regret not building one… so now are plan to sell our current house and build our new one. has anyone done this before? we are unsure how this process goes. since we will need two loans at the same time.. we plan to live in the current house until the new home is finished and ready to live in..

We will need a construction loan, and we have a standard mortgage now. thanks in advance.