We are building and have put our deposit with builder to start the process. In the mean time we are selling our current home due to market being so good in our area, which will cause us to move into temp housing for at least 8 months. Lots of savings to be had with this. The way this builder works is he finances the build and we then get a mortgage when near completion.

This seems so scary to me and I can only think worse case scenarios.

Has anyone else had a similar situation? How did that work out for you? We don’t mind moving twice as we have temp housing set up. I guess it just the unknown.

Thoughts? Is this unconventional? We are pre approved but will need to be approved again in 6 months.