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Updated over 4 years ago on . Most recent reply

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Derek Heinz
  • Seattle
12
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21
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Renovate before renting out?

Derek Heinz
  • Seattle
Posted

Hello, all. 
A quick question to which I'd appreciate feedback and guidance: I am considering making my primary a rental. That's a whole different discussion as to whether I should sell or rent it.... But putting that question on the back burner for now, here's the scenario I'm considering: 

If I do choose to rent it out, I have some work I'd like to do on it, including a bathroom renovation and tiling in the kitchen. Other than that, a few little things. I have a contractor all ready to go, and he works fast, so that's not a problem. But I'm not sure how this works as far as tax implications. If I do all this work now while living in the home, I'm assuming I will not get the tax benefits, right? So then I have to wonder if there's a better way to do this, but the only approaches I can think of are to find a tenant who's comfortable with having this done while they live there, OR I could move out and have the work done while it's on the market? 

What I think I'm really asking is whether there are other good options I've failed to consider.... 

Thanks so much, everyone, for any guidance you can provide! 

Most Popular Reply

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134
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Jay Y.
  • Real Estate Agent
  • Atlanta, GA
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134
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Jay Y.
  • Real Estate Agent
  • Atlanta, GA
Replied
Not sure about the tax question but I would have it renovated while you're still living there, assuming it's not the only bathroom in the house.  Once that's done, you can start listing your house and do the showings yourself assuming you can pack up all your belongings and move into a new place within a weeks period.  Good luck! 

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