is there a calculator of some sorts that you put your information in and it works out the costs of the property as a ppor or if it was an IP and the deductions etc?
trying to work out what difference it will cost me to rent and rent my house out or keep living here
That is exactly what i am after. I am trying to work out also the best way to go with selling or renting my PPR. Even if their is a general formulae that i could use.
And if the sums look good for turning the PPR into an IP, I would definately see my local accountant. I would just like to know if it is viable.
I've used my own spreadsheet over the years to compare likely scenairios. I basically put in all the info, eg. income and costs (including selling and buy costs) and see what the end figure says at the end of the period of time. It is somewhat subjective, however, as it depends on each personal circumstances, age of the property (ie maintnenace required) etc., so you would need to customise the situation to yourselves.
heres an excel document i quickly made when i was looking for one
its basic and i may of missed some stuff out so if you think of anything else then i can add it in.
also it was in xlsx format but the forum doesnt allow it so i saved it in xls so there may be come compatibility issues
it doesnt compare with selling though like jane has said
so note to forum people can the attachments add an exception for xlsx and docx please
This might be of some help?
ok i have a better one in my other calculator here http://www.somersoft.com/forums/showpost.php?p=875255&postcount=14
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