Just after different peoples opinions on what i should do.
currently living in PPOR and starting to build a new PPOR
should i sell or convert to IP?
have probably over capitalized slightly as i wasnt intending to build a PPOR so soon. and plans changed, so has put my structure out slightly.
very solid house, have replaced mains water pipe to house,option or rain water or mains water to house by switch of a tap, put shed on, has solar panels, fenced side yard (corner block) the list goes on. apart from HWS (over 10 years old) i cant see any maintenance issue in the next few years that might arise
have tidied it up a bit after valuation. doing bathroom reno atm and look at tidying kitchen up.
i could rent it out for about $250/week. loan is only 136k valued at 200k in the slow market (i think its undervalued though by around 10k min bore my additional work) . id be wanting around 250k but thats probably more than its worth.
also would have to pay CGT on the gains
if i could sell for a decent price i probably would but market isnt too active atm
if i cant, could i sell to de facto partner or some other way of extracting the equity out to put against my new house without costing too much? (depending on financials)
as my setup wasn't correct when i started and have a fair bit of equity in the house. If rented i wouldn't receive max deductions and money would be tied up in the 'IP' that i could use to offset the new PPOR
only useful to buy future IP's
If i sold i could release that equity and use it for new PPOR and (increase other investment opportunities ?) but also may be losing out ie selling costs, lack of rent, less CG than im after)
hows the CGT ruling work if your trying to sell your previous PPOR while living in your new PPOR. and can you rent it out while trying to sell it and not have an issue in that regards?
currently living in PPOR and starting to build a new PPOR
should i sell or convert to IP?
have probably over capitalized slightly as i wasnt intending to build a PPOR so soon. and plans changed, so has put my structure out slightly.
very solid house, have replaced mains water pipe to house,option or rain water or mains water to house by switch of a tap, put shed on, has solar panels, fenced side yard (corner block) the list goes on. apart from HWS (over 10 years old) i cant see any maintenance issue in the next few years that might arise
have tidied it up a bit after valuation. doing bathroom reno atm and look at tidying kitchen up.
i could rent it out for about $250/week. loan is only 136k valued at 200k in the slow market (i think its undervalued though by around 10k min bore my additional work) . id be wanting around 250k but thats probably more than its worth.
also would have to pay CGT on the gains
if i could sell for a decent price i probably would but market isnt too active atm
if i cant, could i sell to de facto partner or some other way of extracting the equity out to put against my new house without costing too much? (depending on financials)
as my setup wasn't correct when i started and have a fair bit of equity in the house. If rented i wouldn't receive max deductions and money would be tied up in the 'IP' that i could use to offset the new PPOR
only useful to buy future IP's
If i sold i could release that equity and use it for new PPOR and (increase other investment opportunities ?) but also may be losing out ie selling costs, lack of rent, less CG than im after)
hows the CGT ruling work if your trying to sell your previous PPOR while living in your new PPOR. and can you rent it out while trying to sell it and not have an issue in that regards?
