Hi All,
many posts how Granny Flat can be added to IP. but I have moved into a PROP, with a view, that I would convert this to IP in few years time.
so thinking of adding a GF right away in the big backyard right away.
for this my understanding is as I have just bought this place say for 435k. I keep its record.
Go and get a GF built for another 100k or 110k and then get another valuation done.
with the Valuer or my accountant work out how much proportion stays as my PROP to save me a % of Capital gain if I ever have to sell the place..
and then rent out the GF. my broker said he can sort out the loan.
for this part anything else that I should be aware of.
as mentioned planning to convert both front house and GF to IP in few years time and hopefully never sell them...
any advice or guidance much appreciated.
regards,
somer_hut
many posts how Granny Flat can be added to IP. but I have moved into a PROP, with a view, that I would convert this to IP in few years time.
so thinking of adding a GF right away in the big backyard right away.
for this my understanding is as I have just bought this place say for 435k. I keep its record.
Go and get a GF built for another 100k or 110k and then get another valuation done.
with the Valuer or my accountant work out how much proportion stays as my PROP to save me a % of Capital gain if I ever have to sell the place..
and then rent out the GF. my broker said he can sort out the loan.
for this part anything else that I should be aware of.
as mentioned planning to convert both front house and GF to IP in few years time and hopefully never sell them...
any advice or guidance much appreciated.
regards,
somer_hut
