I recently subdivided the land that my main residence sits on. I now have a house on half the block and a vacant lot which I am looking at constructing a duplex on.
I have a loan on the existing dwelling, and have spent about $35,000 on subdivision costs.
I have also reduced the value of my owner occupied house.
Can anybody please help me to understand how to apportion the interest on my loan between the new lot and the existing dwelling?
Any help any body can provide me would be much appreciated.
Thanks everyone and happy investing!!
Jason
I would engage the services of a professional valuer to do a valuation on the now subdivided property and apportion the interest accordingly.
should costs $500 – $600Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
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