Hi Guys,
I am fairly new to this and am after some pointers please. I am settling on my first property at the end of the month. It will be used as our PPOR for a year or 2 and then be rented out after we upgrade to a more suitable PPOR for us.
Some things that I need to do to the property that I can think about off hand are:
* Install Airconditioning
* Install Built in wardrobes
* Update gardens extensively
* Retile and perhaps update the bathroom
* Rip up carpet and install perhaps floating floorboards (or tiles but I thought floorboards would be cheaper)
* Build another small room adjacent to the current laundry and then move the laundry into this new room.
* Make the current laundry a walk in pantry because it is directly off the kitchen. This would also make additional space to put the fridge which would currently have to be in the dining room.
* Enclose and tile current back verandah into a sunroom and perhaps another bedroom.
Anyway there is a lot to do and I don't wish to do all at once, hence the 1-2 year plan. What I am asking info about is should I start this say immediately or wait until just before we are ready to rent out? I don't know how deductions work but the property does need updating to achieve a higher rent return but as it currently sits, the rent will cover the mortgage payments.
Some of the stuff I want to do I might change my mind on but this is my plans. btw: air con and built ins will be done in the next couple of months because it is something we need now. The rest can wait though if it works out better.
Any advice would be sooo appreciated. Thanks.
I am fairly new to this and am after some pointers please. I am settling on my first property at the end of the month. It will be used as our PPOR for a year or 2 and then be rented out after we upgrade to a more suitable PPOR for us.
Some things that I need to do to the property that I can think about off hand are:
* Install Airconditioning
* Install Built in wardrobes
* Update gardens extensively
* Retile and perhaps update the bathroom
* Rip up carpet and install perhaps floating floorboards (or tiles but I thought floorboards would be cheaper)
* Build another small room adjacent to the current laundry and then move the laundry into this new room.
* Make the current laundry a walk in pantry because it is directly off the kitchen. This would also make additional space to put the fridge which would currently have to be in the dining room.
* Enclose and tile current back verandah into a sunroom and perhaps another bedroom.
Anyway there is a lot to do and I don't wish to do all at once, hence the 1-2 year plan. What I am asking info about is should I start this say immediately or wait until just before we are ready to rent out? I don't know how deductions work but the property does need updating to achieve a higher rent return but as it currently sits, the rent will cover the mortgage payments.
Some of the stuff I want to do I might change my mind on but this is my plans. btw: air con and built ins will be done in the next couple of months because it is something we need now. The rest can wait though if it works out better.
Any advice would be sooo appreciated. Thanks.
