Honestly, extensions are almost a given these days. Even with the best planning, something always pops up—weather, inspections, or a sub going MIA. I’ve seen projects stall for weeks just waiting on trusses or permits. The built-in extension is smart, but I wish lenders were a bit more flexible on timelines. It’s rare for a build to go exactly as scheduled, especially if you’re juggling multiple crews. I’d rather pay a little extra upfront than get stuck with penalty fees down the line.
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
Totally agree, nothing ever goes 100% as planned. Last time we built, rain held us up for almost a month and the bank started getting antsy. Honestly, I’d rather just pad the timeline from the start. Those penalty fees are brutal. Wish lenders would get that builds aren’t cookie-cutter.
Yeah, the weather delays are no joke. We’re in the middle of our first build and I’ve already learned that “normal” is just a suggestion when it comes to timelines. Our lender gave us 12 months, but honestly, I’m budgeting for at least a couple extra months just in case. It’s wild how rigid some banks can be when literally everything about building is unpredictable. Padding the timeline upfront seems smart—wish I’d thought of that sooner.
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
I get what you mean about banks being rigid, but honestly, I kind of appreciate the structure. We almost went with a lender that offered 18 months, but the higher fees made us rethink it. Ended up sticking with 12 months and just staying on top of the builder every week. It’s stressful, but so far we’re still on track. Maybe it’s not always about padding the timeline—sometimes it’s about pushing everyone to stick to it as much as possible, even if that means a few awkward conversations.
WHAT’S A “NORMAL” LENGTH FOR CONSTRUCTION LOANS THESE DAYS?
I hear you on the structure. When I built our place last year, the lender only gave us 12 months too, and honestly, it did keep everyone moving. There were a few close calls with the weather and a couple of subs dragging their feet, but having that deadline hanging over us definitely forced some tough conversations. I get why people want more time—things go sideways fast in construction—but I’ve also seen builds stretch forever when there’s no pressure.
One thing that surprised me was how much the bank wanted to see proof of progress every month. Felt like I was reporting to a boss again... Not always fun, but it kept the builder on his toes. Did your lender do regular inspections too, or just check-in at the end? I wonder if that’s standard now or if it depends on the bank.
Curious if anyone’s run into issues with 12 months not being enough? I know weather can mess up a schedule real quick, especially if you’re building in the winter. For us, we barely squeaked in under the wire. Would’ve been nice to have a buffer, but those extra fees for a longer loan just didn’t make sense for our budget.
Have you found that sticking to 12 months actually saved you money in the long run? Or did it just add stress? Sometimes I wonder if paying a little more for peace of mind would’ve been worth it...
