Title: What’s a “Normal” Length for Construction Loans These Days?
I get the frustration with extensions, but I actually went the opposite route and kept my term shorter. Maybe I just got lucky, but my builder was super upfront about timelines and stuck pretty close to them. The extension fees were a risk, sure, but I figured if things really went sideways, I'd rather pay a couple months' worth of fees than commit to a longer loan and higher interest from the start. Guess it depends on your appetite for risk... I just really didn’t want to overpay if we finished on time.
I just really didn’t want to overpay if we finished on time.
I get where you’re coming from, but I dunno… I’ve seen too many friends get burned by “optimistic” timelines. Even with a good builder, stuff just happens—weather, permits, supply chain weirdness. I’d rather lock in a bit longer and not stress about surprise fees. Maybe I’m just more paranoid about budgets than most.
Honestly, I’ve seen projects wrap up early and still hit snags with inspections or final sign-offs. Once had a crew finish framing ahead of schedule, but then we waited three weeks for a city inspector who was “on vacation.” Sometimes paying for a little extra time is just peace of mind.
