All Topics / Help Needed! / Renovation

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  • Profile photo of mistymisty
    Member
    @misty
    Join Date: 2004
    Post Count: 72
    March 12, 2004 - 12:18 am

    Hi
    I was wondering if anyone has a formula or idea on how much or what percentage you should get from renovating a property.
    Does time taken also come into play (if it is always your PPOR).
    Do you add on the % property rise before or after other calculations.
    Also if your PPOR, do you have to pay capital gains when you sell if under 12 months?
    [:)]
    [:I]

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    March 12, 2004 - 12:32 am

    You shouldn’t have to pay CGT on your PPOR.

    There is no set formula. You just have to work out what return you expect and whether it is worth your while.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of shaunwalkershaunwalker
    Member
    @shaunwalker
    Join Date: 2003
    Post Count: 403
    March 12, 2004 - 3:09 am

    i do remember hearing something from the reno kings once. and they had a formula for ip’s. it was something like dont spend more than 3% of the purchase price on a kitchen etc. i dont know their web page. but i would be worth checking out.
    cheers
    shaun

    Lead, Follow or get out of the bloody way

Viewing 3 posts - 1 through 3 (of 3 total)

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