Beware of Being Your Own Home Builder
Homeownership is the foundation of the American Dream, and in today’s do-it-yourself culture where how-to advice for just about anything can be found on the internet, many people think they could save a lot of money by building their own home. But your home is likely the single largest investment you will make in your lifetime, and not hiring a professional home builder could be a costly mistake for many reasons—financial, emotional, and physical. 
Getting financing is an important consideration. As a self-contractor, lenders have strict guidelines and limits on how much money they will give you, and they will require that you provide house plans, specifications and an itemized list of documented costs and bids beforehand.
Even if you feel that you have enough cash to do the job, it is wise to get a loan to cover material or labor cost increases, upgrades or material overruns. Many mortgage companies will not lend money to cover unanticipated costs on a home when construction has already begun.
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