Hello All,
I am currently purchasing two IP's next to each other.
Number one is in good condition but needs painting and a car port.
Number two is a mess inside.
Every door has holes in it, same for walls (some of the holes are heads size and height - the mind boggles when you think of how they might have been made).
Carpets are dead and my intention is to use them a well fitting drop sheets for the repainting and then they will be replaced.
Lino - dead (or possibly alive) needs replacing.
Stove - I'm afraid to touch it- needs replacing.
Bathroom needs tiles and new shower screen.
I know the house sounds horrible but it has character, is in an improving street and I can see value at the price.
Now, I know that these repairs are going to be classed as improvements given that the property was purchased in poor condition. But perhaps there are some tax effective tricks and strategies I should consider?
Any feedback appreciated, cheers,
Shaun.
I am currently purchasing two IP's next to each other.
Number one is in good condition but needs painting and a car port.
Number two is a mess inside.
Every door has holes in it, same for walls (some of the holes are heads size and height - the mind boggles when you think of how they might have been made).
Carpets are dead and my intention is to use them a well fitting drop sheets for the repainting and then they will be replaced.
Lino - dead (or possibly alive) needs replacing.
Stove - I'm afraid to touch it- needs replacing.
Bathroom needs tiles and new shower screen.
I know the house sounds horrible but it has character, is in an improving street and I can see value at the price.
Now, I know that these repairs are going to be classed as improvements given that the property was purchased in poor condition. But perhaps there are some tax effective tricks and strategies I should consider?
Any feedback appreciated, cheers,
Shaun.