My friend, Paul, the architect in New York City said people in the United States build their own houses from the housing lot they have purchased, unlike in Malaysia where we buy houses that are already built in rows like a cookie cutter house.
He said that although a house in the United States is more expensive to build, it is a worthy investment as the value appreciates faster than a cookie cutter house where there is no individuality.
Because of this, many Americans apply for construction loans for a new house or for remodeling of their existing house. People can also get a loan to purchase the housing lot or permanent finance for residential properties.
I think that it is indeed a wise move to buy our own property as soon as we are able to. Besides the fact that we get to grow our roots, we also can use the money to repay our housing or constructive loan, instead of paying rental to the landlord and help him to repay his loan.
CobnstructionLoanCenter.com also offers a "One Time Close” program where everything is wrapped in one package instead of going through re-qualifying or reappraisals and adding to the closing cost.
Monday 5 February 2007
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