Paying to play
The kicker for the newbie builder is that pay out schedules for construction mortgages provided by banks do not match industry standards for the payments required by contractors.
Not even close.
Many of the books we've read in preparation mentioned owner-builders who used lines-of-credit and credit cards to finance their home construction, but the reality of *why* didn't sink in until recently for me. The only way to get through it (if you're not independently wealthy) is to juggle balances between lines of credit & credit cards, and then pay them off as you reach each stage of pay out with the bank. It sounds frightening, and I'm definitely not looking forward to it. Fortunately, we've set up our accounts and are ready to go.