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[–] Tekedo 0 points 1 point (+1|-0) ago 

You can buy a lot and build a 3 bedroom house on it for around 200k anywhere in the country, even expensive liberal states. If you do it right in the right areas you can put 30-50k in equity into the property just by building a house.

Will you have to do a large chunk of work? Yeah.

Do you trust a contractor to hire untrained Mexicans to build your house for you at a 30% mark up?

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[–] Creggieb 0 points 2 points (+2|-0) ago 

I'd love to do that. It's a great idea. In fact that's kinda my retirement plan. I'm learning as many of the trades as I can so I will be able to supervise the work I cannot or will not do, in addition to doing much myself or with friends. I work in new home deficiency repair, so you are 100 percent right about rubbish work. But not everyone works poorly, and over my career i have met a few like minded people and we plan on buildingng our retirement homes in a rural area, ourselves

But that needs 200k. I wont have that until I sell my current home, which I needed to borrow some money to have. The alternative for me was continuing to rent, while my nest egg grew at a far lower rate than inflation, or even the growth of property values in my area.

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[–] AverageBear34 0 points 1 point (+1|-0) ago  (edited ago)

Check out home equity line of credit. You can take out up to 80% of the value of your current home without having to sell it to finance the build. After you are done building, sell the old home and pay it off.