Building a Home in RR? Questions! (Round Rock, Georgetown: mortgage, appliances, loans)

[maurymarix]

I am thinking of buying a lot in Round Rock and having a house built, but I don't know the first thing about this.
First, how does your loan work? Do you pay for the lot and the house together, and do you have to start paying immediately? (I'd have a double mortgage for a long, long time.)
Then, how in the world do you find an honest contractor?
Also, if I had around 140-150K to spend on the house itself (after purchase of the lot), what could I build, or is that even doable? Is the lawn included, or is that a separate expense? I want square footage, but I do *not* care about much else: floors, fixtures, appliances, etc. -- the cheapest stuff is usually fine for me.
Any advice would be greatly appreciated!

[HappyTexan]

If you plan to buy a lot and then go look for a builder then you wouldn't combine the loans; not at the beginning of this journey

This is what I did. I bought my land (6 acres) after I checked that all utilities were available and septic could be installed. Got a land loan on that. About 1.5 years later I was ready to build and found a builder. With the house I got a single mortgage (no construction mtg) and was able to pay off the land loan and put the balance due into the new mortgage.

I used Tilson for my builder. They are a texas builder and I've been very happy with them. I have an engineered foundation due to the heavy clay east of I35. They have a model home park in Buda and Georgetown. Been here 10 years and I plan to use them again with my next home.

I guess if you are in the city then you don't have to worry about utilities too much.