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Building new house - move in or wait a year

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Gus | 29 Aug 2018, 10:58 PM Agree 0
Hi all,

My wife and i own two apartments - one we live in and own outright and another we rent out.

We are currently building a small house around the corner. We enjoy living in our apartment but understand that it will become too small in the not too distant future!

We are toying with the idea of staying in our current place and renting the new house out for a year or so until we feel we need the space.

This may help by allowing us to claim holding costs of land etc as a tax deduction, obviously the rent we can get from a house will be more as well.

What other things should we consider, pros and cons, in our decision making?
  • ADAMS | 26 Sep 2018, 11:21 PM Agree 0
    Hi, As far as your decision is correct and you can get on the new house when you need space in future. But, I am not sure about tax deduction.
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