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I'd use the equity now (and have done myself recently in a similar situation) – in regards to your house being unfinished this shouldn't be an issue the bank will probably ask you set questions such as:number of beds/baths, land content and location and plug that into their software and it spits out a number (your equity), have you finished painting/landscaping doesnt fit into their software
As long as you can service the new debt my thinking is the sooner the better.
Decided to go ahead with it – at $370,000
It's well located so hopefully it will appreciate in value and it won't take alot of payments to tip it from CF neutral to CF+ so I'll jump in blunder my way through and have a crack at another in a year or so fingers crossed
Number 8: In terms of recent sales same configaration in the complex went for $390,000 in March this year – have been following the area myself for a little while now as best I can. Thanks for your input
