I purchased an investment property about 6 years ago and have been slowly paying it off while living at home with the parents (have never lived in it) but am finally thinking about moving into it to live there for good in the coming months. Was just wondering if anyone has any advice about anything I need to do before I move in? Do I need to get it valued or anything? I also imagine if I want to paint it or do anything to fix it up, I should do that while it's still being tenanted which would help for tax purposes right? Any advice at all about what to do before moving in or what I might need to look out for in the future if I want to sell it would be great!
You're already on the right path, get it valued, get anything fixed. Depending on how much you have paid off, you may always want to ensure that you have your loan account set up correctly.
Also, don't get too carried away with repairs. I know that some people tend to get carried away when doing their tax returns, don't forget that if it's a repair, you may be able to claim it, however capital items can only be depreciated.
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