So I'm looking to buy a project house...smaller but I want to add to it. I want to add around 500 sq ft and there's plenty of room for that.
I've been told to borrow money from your 401K for a loan, you won't be penalized and you just payback what you took out. But, there's no interest.
Home Equity Line, if the bubble pops...would that put me in a huge hole?
I've never taken out a personal loan so I have no idea the years or interest rate on them.
I'm going to be putting roughly $35,000 - $40,000 in renovations/additions in the house.
What would be my best financial plan?