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All Forum Posts by: Chris Pickett

Chris Pickett has started 1 posts and replied 2 times.

Post: When to do remodel

Chris PickettPosted
  • Posts 2
  • Votes 0

Thanks for the thorough reply and great things to point out. Overall condition is pretty good new appliances in the kitchen just a very dated 1990s look. It is a townhome so the yard is very small and the backyard is all concrete so the landscaping point is not as applicable here. While I hear you about moving sinks and things like that. I’ve already again talked to contractors and got good estimates knocking down this one wall adds aton of value to the house.

I estimate the additional amount would be $200-$300 a month after a remodel. 

I guess my question is more of a tax question, it’s a no brainer to wait to rent it out to do a remodel so I can claim depreciation on the remodel correct ? 

Post: When to do remodel

Chris PickettPosted
  • Posts 2
  • Votes 0

I have a primary residences that is in a great area that I’m looking to rent out within the next year or two. My question is, if I want to remodel aspects of it to increases its valuation does it make sense to wait until I rent it out a year to someone or do it before hand ? 

I plan on having kitchen remodeled, new flooring out in, and a wall removed. I’ve gotten estimates and it is 45-53k. From my basic understanding it would make sense to change it to a rental and then do the remodel so I can claim depreciation on my cost, is this correct or not?