Hi All
Need some advice or guidance
I'm in the process of building a house and have spent much of my money on the foundation (unplanned for challenges)
I now need approximately 700 thousand to complete the build and these are a few ideas that I've had, since the bank doesn't finance 100% bond on plots
- Borrow 1 million from an investor, use 300k to consolidate and the R700k to build
- Sell the plot to my wife for 1 Million and do as in option 1, then re-bond the house when completed
- Borrow a million by other means?
Would appreciate any advice / guidance
Need some advice or guidance
I'm in the process of building a house and have spent much of my money on the foundation (unplanned for challenges)
I now need approximately 700 thousand to complete the build and these are a few ideas that I've had, since the bank doesn't finance 100% bond on plots
- Borrow 1 million from an investor, use 300k to consolidate and the R700k to build
- Sell the plot to my wife for 1 Million and do as in option 1, then re-bond the house when completed
- Borrow a million by other means?
Would appreciate any advice / guidance
