How much is a house?

One of our most basic need is a home; a shelter where we feel safe and secure. A home is of course, a house with your family on it.

I am in the time of my life where I am seeking independence from my parents loving providence. It's not that I am ungrateful, I will always be. My parents have always provided for me, even when I am making more money than they do (they're retired by now that's why). But I guess, everyone comes to a certain point in his life where he wants to live separately (though still emotionally connected) from his roots.

I am not ready but I am preparing myself for it. My parents are quite supported of my plans. I am hoping to buy my own lot and build my own house. But how does a self-employed like me with few financial documents to show to banking institutions gets to buy a lot, much more build a house? What are my options?

I think mortgaging is common. I play monopoly but I could not grasp the meaning of mortgages in real life. I needed some explanations about it. I realized there are different kinds of mortgages from a website. People also need a good credit score for the housing loans to be approved especially that financial institutions are in crises now. There's a company however, that offers services to help people on applying for these loans especially people with bad credit score.

If I apply for one, how long will I be paying for it? Will I live that long to complete it? LOL. How much will it be? Will it cost all my life's work?

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