Best Strategy to Build Primary Home?

[Tim Kaminski]

Hello!

Wife and I have 2 newborns (twins!) and want to build new a larger house to accommodate. We owe about $300k and home is worth around $800k. What’s best way to capture that equity and stay in our current spot?

Can I HELOC but then have 2 loans to pay?

Should I sell off a rental property or two and pay for new construction in cash? But then wouldn’t I be losing all the gained equity in our primary home?

Or is best strategy to sell, capture the equity, and buy a new construction home with profit from the sale?

Maybe this is obvious but we are sleepy so appreciate the help.

Thanks,

Tim