Renovate before or after turn the primary property into a rental

[Cathy Chang]

Hi, BPers,

I plan to turn my current primary property into a rental one within one year. Right now it has 2 bedrooms, after it becomes a rental, I want to renovate it to 3 bedrooms. Should I renovate before or after I find my new primary property, as far as tax reasons concerned? I would like to depreciate the improvements costs as basis for the rental.

If I renovate it now (still primary), may I depreciate the cost?

Many thanks!

Cathy