My father gave me part of my inheritance early. It is a 1/4 acre piece of land(this is in a caribbean island we plan to move back too as soon as DH finds a job there) that he had already cleared out, cut the land out to build, built a cestern(this is our water supply, it is located beneath the house and usually cost 35-45,000 to build), septic. In money figures the land plus the work he has done on it all comes up to 100,000 I do not have to spend.
Now since all of this is already done it would be wise to build at least the foundation which will cost about 10-12,000 (we build with concrete and steel so we can take years building slowly but the foundation/slab should at least be there). I am getting all of this done for cheaper than normal because my father is a contractor(owns his own business). I only pay for materials and labor but he doesn't charge for his service.
At the same time we have been a 1 car family for 6 years and it is getting difficult so we are planning on getting a 2nd car which we are raising money for(between 8-10,000 for, we have about 3 more months before we complete the highest goal).
I would like to do all without a loan but I don't know how long we can hold out much on any of the above. The land is starting to get full of bush again, my father isn't getting younger but we need a "new to us" vehicle. I was going to take a personal loan for the land which had a 7.99% but then realize that at the same credit union I can get a car loan for 3.99% and thought I should do the reverse.
Anyways with this situation WWYD? anything different? We have no credit card debt or any other debt only school loans totalling to about $27,000.
Now since all of this is already done it would be wise to build at least the foundation which will cost about 10-12,000 (we build with concrete and steel so we can take years building slowly but the foundation/slab should at least be there). I am getting all of this done for cheaper than normal because my father is a contractor(owns his own business). I only pay for materials and labor but he doesn't charge for his service.
At the same time we have been a 1 car family for 6 years and it is getting difficult so we are planning on getting a 2nd car which we are raising money for(between 8-10,000 for, we have about 3 more months before we complete the highest goal).
I would like to do all without a loan but I don't know how long we can hold out much on any of the above. The land is starting to get full of bush again, my father isn't getting younger but we need a "new to us" vehicle. I was going to take a personal loan for the land which had a 7.99% but then realize that at the same credit union I can get a car loan for 3.99% and thought I should do the reverse.
Anyways with this situation WWYD? anything different? We have no credit card debt or any other debt only school loans totalling to about $27,000.
