Hey guys we are building our home sign all papers land been settle ..long short history ….
Builder got the deposit last week. Then this week got a letter stating due the shortage of material and material price our building has an increase in price. So they want us to agree on $17k extra. Now I used all my money in this deposit.
My question is … land is settle so the left over now is a construction loan, is that possible to increase the construction loan? And get this done? If not, my choice is wait 2 years according to the builder. And then I would be charged for delaying the construction as well. So I'm not sure how to goes from here. What meant to be an exciting process has been a nightmare… please don't judge… I know how things are I work I administration in material for building my self but I asked this before sign my contract and was told they fine nothing to worry. It's my first home this one. I would love to just have the money and pay it, unfortunately I don't.