I am looking to sell my house & build one. I talked to builder & done some research into this. I met with the bank but was a bit surprised when I was told that I would have a bit of a hard time in getting another $50-100k. I have over 200k equity / owe only 30 in current home & thought because of this I would have better chance to secure something else. I was not turned down, but it made me re-think my position.
They made it sound so daunting when I thought I had it figured (to a degree eg. purchasing land with bank money / building with sale proceeds of house approx 300k. Have you any opinions about time to build/buy? Would I be taking a chance here / doing the wrong thing ? Any thoughts are appreciated thanks.
They made it sound so daunting when I thought I had it figured (to a degree eg. purchasing land with bank money / building with sale proceeds of house approx 300k. Have you any opinions about time to build/buy? Would I be taking a chance here / doing the wrong thing ? Any thoughts are appreciated thanks.
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