Paul in San Diego answered:I would get ahold of a genarel contractor who does new builds and find out how much the type of house you want is going to cost. I would also find out how much the land I want is going to cost. Then I would go to a lender and find out if I can borrow the amount it costs to buy the land and build the house.If you buy the land (assuming you're not paying cash), you'll have to get a regular mortgage as opposed to a construction loan. That means that the month after your loan funds and you own the land, you start paying monthly mortgage payments on it.For the construction cost, you can get a construction loan. This works like a bank account, where you draw on the loan amount, increasing your balance with each draw. Many construction loans do not require you to make payments during construction for up to 6 months or a year. When construction is complete, the amount of the loan rolls over into a regular mortgage.As far as the construction of the house goes, the genarel contractor will know about the process and will cause milestones to be met. This includes the submission of plans to the county, obtaining permits, and genarelly everything that goes into building a house. You may need to hire an architect to draw up the plans. Or, some builders have in-house designers who can draw up the plans for you. And, unless you have some fairly custom features you want added to the design of the home, it's advantageous to have the builder draw up the plans. They will charge you less than an architect and they know how much a certain feature is going to cost. An architect might design some very cool feature into the plans, not realizing that it might cost tens of thousands of dollars for the builder to implement.

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