Well not really. But withdrawing money from the ATM today again to pay for some electrical work, I was pondering, am I spending too much money on my IP? The house was originally a 3 bedroom house in western Sydney (St Clair).
The handyman Im using keeps telling me that Im spending too much on the property. Once all done, I'll get a depreciation schedule done so there are some advantages there. But the big question is where does one stop?
So far this is what Ive done
- converted original dining room into 4th bedroom / study
- relocated laundry from behind a kitchen cupboard to a standalone area in the kitchen
- installed a IXL 3 in 1 for the bathroom
- new light fittings in all bedrooms
- new downlights in the kitchen / living area
- new downlights under the front eaves
- new mains powered smoke alarm
- new tap fitted for tank water use (was only plumbed into toilet / old laundry)
- new insulation (only cost was to remove old blow in type insulation)
- 4 new flyscreens and renewal of flyscreen mesh
- raise air conditioner unit (was sitting flat on the concrete path)
- patch various holes etc around the place
- repaint nearly the whole house (due to the renovations)
- new verticals throughout
The handyman Im using keeps telling me that Im spending too much on the property. Once all done, I'll get a depreciation schedule done so there are some advantages there. But the big question is where does one stop?
So far this is what Ive done
- converted original dining room into 4th bedroom / study
- relocated laundry from behind a kitchen cupboard to a standalone area in the kitchen
- installed a IXL 3 in 1 for the bathroom
- new light fittings in all bedrooms
- new downlights in the kitchen / living area
- new downlights under the front eaves
- new mains powered smoke alarm
- new tap fitted for tank water use (was only plumbed into toilet / old laundry)
- new insulation (only cost was to remove old blow in type insulation)
- 4 new flyscreens and renewal of flyscreen mesh
- raise air conditioner unit (was sitting flat on the concrete path)
- patch various holes etc around the place
- repaint nearly the whole house (due to the renovations)
- new verticals throughout