Hi all, I will be moving into one of my IPs at the end of the year. What are the things I need to consider? eg
- is a valuation a good idea?
- property inspection..leave this to PM or do myself (I am interstate)? I would hope that this would be a lot more comprehensive than the usual quarterly inspections they conduct but is that ok?
- renovations..is there any benefit to doing these while it's still an IP?
- the property is currently on a 3 year fixed IO loan (Bankwest) which expires in October. I plan to refinance it with another lender to P&I and probably fix all or part of it depending on what rate I get offered.
I'm sure I've forgotten several points. Thanks for your help.
- is a valuation a good idea?
- property inspection..leave this to PM or do myself (I am interstate)? I would hope that this would be a lot more comprehensive than the usual quarterly inspections they conduct but is that ok?
- renovations..is there any benefit to doing these while it's still an IP?
- the property is currently on a 3 year fixed IO loan (Bankwest) which expires in October. I plan to refinance it with another lender to P&I and probably fix all or part of it depending on what rate I get offered.
I'm sure I've forgotten several points. Thanks for your help.
