Hi Forum
Just recently had some minor renos on our 3Bdr IP done.
We currently live with in-laws granny flat/shed. Tight squeeze with 2 kids and wife. Anyway, with reno done, wife and kids want to move in there cos more room, obviously, and like the new look of the IP.
We have rented the IP since 2009. We also have vacant block of land (2011) which I am hoping to build however with IP now may become our PPOR this may limit extra $$ to fund this build.
what are the pros/cons of moving into IP, and it becoming the PPOR from tax perspective and renewd investment strategies in this move.
Appreciate any advice.
Just recently had some minor renos on our 3Bdr IP done.
We currently live with in-laws granny flat/shed. Tight squeeze with 2 kids and wife. Anyway, with reno done, wife and kids want to move in there cos more room, obviously, and like the new look of the IP.
We have rented the IP since 2009. We also have vacant block of land (2011) which I am hoping to build however with IP now may become our PPOR this may limit extra $$ to fund this build.
what are the pros/cons of moving into IP, and it becoming the PPOR from tax perspective and renewd investment strategies in this move.
Appreciate any advice.