Buying a house is easier than building one from scratch. Buying an existing home is almost always faster, even if you need to make renovations once you move in. When you hire the right team to build a home, they will simplify the design and build phases so that there is little guesswork throughout the process, but building new construction will almost always take longer than buying an existing home.

Yes, you can finance new construction, though the process often requires a different type of loan than one for an existing property. There are several financing options available:

• Construction-to-Permanent Loan: This is a common option where a single loan covers the building costs and then converts into a traditional mortgage once construction is complete and you move in.

• Construction Loan (Stand-Alone): This type of loan provides funding only for the duration of the construction project. Once the house is built, you will need to pay the loan in full, typically by securing a separate, standard mortgage.

• Builder Financing: Some custom homebuilders offer their own financing options, which may only require a down payment to begin the building process.

• Bridge Loan: This can be a useful short-term loan to fund your new construction while you are in the process of selling your old home.

• Home Equity Options: If you are building a second home, you might be able to use a home equity line of credit (HELOC) or a cash-out refinance on your current property.

It's also important to be aware that some lenders may have restrictions on financing for DIY house builds, so be sure to verify that you can secure financing before starting your project.

While it’s never too early to start planning for a major home improvement project like a home addition, give yourself at least a month or two to plan and design your addition, find a contractor, and get the permits in order. For larger projects like a second-story addition that require designing with an architect, plan on three to four months of preparation.

If you want to make your home eco-friendly, enjoy low maintenance, and love the fact that its looks will take people’s breath away (and not because they were trying to blow your house down), then a modern brick home is right for you. You can hire a mason to get the building process started for your brick home.

But if you’re not fond of the color and don’t want to deal with the process of repointing or other repairs, consider going with vinyl or wood. These materials offer a lower cost. While they tend to require more maintenance, they don’t cost nearly the same as exterior brick house repair.