WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
Totally agree—too much structure beats scrambling to fix mistakes later. I’ve had lenders try to rush things with a 9-month term before, which was just unrealistic given weather delays and permitting hiccups. Curious if anyone’s managed to negotiate extensions without getting hammered on fees? I’ve always found banks get a bit twitchy if you ask for more time, especially lately. Does anyone else feel like lenders are tightening up on flexibility, or is that just my recent luck?
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
Nine months is wild—unless you’re building a shed, that’s just asking for trouble. I’ve seen 12-18 months as more realistic, but even then, weather and permits can throw everything off. Extensions are tricky lately, yeah. Lenders seem way less chill than they were a few years back. I’ve had better luck when I can show a super detailed project timeline and contingency plans... but it still feels like pulling teeth sometimes. Hang in there—sometimes the creative solutions come out of these headaches.
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
Nine months is definitely pushing it unless you’re doing something super basic. I’m seeing 12-18 months as the new “normal” too, but even that can be tight if you hit a snag with inspections or get stuck waiting on materials (which seems to happen more than anyone wants to admit). Lenders have gotten way more rigid—used to be you could call and get a few extra months without much hassle, but now it’s like jumping through hoops.
One thing I’ve noticed: if you can show them a really granular schedule, with buffers for weather and supply chain hiccups, they’re a bit more open to flexibility. Still, it’s not a guarantee. Had a project last year where we lost three weeks to rain and the bank was breathing down my neck the whole time. Ended up finishing just under the wire, but it was stressful.
Honestly, I wish lenders would recognize that “normal” is a moving target these days. The old timelines just don’t fit reality anymore.
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
I get where you’re coming from, but I’m not totally convinced that 18 months should be the new baseline for everyone. My last project, we wrapped up in just under 10 months, and that included a couple weeks waiting on cabinets that apparently had to cross every ocean before landing here. I’ll admit, it wasn’t exactly a walk in the park, but with a good GC and staying on top of the subs, it wasn’t impossible either.
Honestly, I think sometimes the longer loan terms just give folks more room to drag things out. Sure, delays happen, but I’ve seen plenty of jobs stall just because there wasn’t enough pressure to keep moving. Not saying the banks don’t make it tough—jumping through their hoops is a whole circus now—but I do wonder if we’re letting “normal” stretch just because we expect it to. Maybe if everyone tightened up a bit, the lenders would too… or maybe I’m just being cheap.
Honestly, I think sometimes the longer loan terms just give folks more room to drag things out.
I hear you—there’s definitely some truth to that. I’ve had projects where the crew seemed to move a little slower just because they knew there was extra time built in. At the same time, I’ve also been burned by surprise delays (permits, weather, you name it), so I get why folks want the cushion. Ten months is solid, but I feel like 12-15 is a safer bet these days, at least around here. Maybe it’s just the market, but I’d rather have a little wiggle room than risk a mad scramble at the end.
