HELOC Construction - Inspection

[Matt Ryan]

Hi Everyone,

I own an empty lot that I want to build on and would like to get some input on the biggest construction risks.

I am taking out a HELOC on my current home to pay for the new construction and will take out a traditional mortgage on the newly constructed house to pay for the HELOC after it is completed.

Since I am going to use the HELOC for construction, how can I ensure that the home builder will not take shortcuts and will build everything out to the correct specifications?

If I got a traditional construction loan from a bank, I know they would send out their own inspector to check up on the building.

Should I hire a third-party inspector to keep my home builder honest?

Also, are there any resources you recommend for home construction? A checklist of some sort or video walk-through of the process?

Thanks,

MR