Do I need a quantity surveyor?

I've purchased a new property couple of weeks ago and we'll be moving in it in a month or two. Our current PPOR will become an IP for about a year, then we'll move back and the new property will become IP. My question is, is it worth to invite a QS to the current PPOR, which will only be an IP for one year?

Would appreciate your advice. Thanks.
 
Depends entirely on how old the place is and how long you've owned it for.

Scott

The house is old, maybe 1950 or something like that, but has been extensively renovated (restamping, rewiring, new kitchen, new bathrooms, new BIR's etc). We bought it in 2001 and it's been our PPOR since then.

What do you think? Thanks.
 
The rewiring, bathroom, kitchen etc are 'building'. So they'll depreciate at 2.5%pa. If the work was done while you lived there, you will have idea of what it cost. If it was done by a previous owner, you won't. Let's say the work cost $50k. That's $1,250 for the year.
The Assets: carpet, stove, curtain etc depreciate more quickly. But you have owned the place for a while, so those items will have lost some value before you rent them out. Let's say in the first year there is $1,000 in deductions in the Assets.
So maybe $2,000-2,500 as a deduction in that year you rent the place out.

These are really rough figures. Send me some photos (and tell me whether you did the renos) if you'd like and I'll be able to be a bit more specific.

Scott
 
Hi depreciator,

My apologies for the late reply, I've been preoccupied sorting out finance for my new purchase.

We did the reno so I should be able to find receipts or recall how much it was. I'll pm you some photos.

Thanks very much for you help.
 
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