[GNC] House renovation Expense or Asset?

[Gary Holtum]

All improvements to the house are collected and added to the purchase price
when selling the house to reduce the capital gains on the sale.
Gary

-----Original Message-----
From: gnucash-user
[mailto:gnucash-user-bounces+diamondhranchqh=earthlink.net at gnucash.org] On
Behalf Of Tony Vanson
Sent: Friday, May 11, 2018 1:21 PM
To: David T. via gnucash-user
Subject: [GNC] House renovation Expense or Asset?

Hopefully I've posted this query in the right area - if not, please accept
my apologies.

My quandary is that, my recently purchased house, has an uncompleted
extension. I have now contracted to have this extension finished. I am
unsure how to record the expenses incurred in GNUcash.
I assume that when all the construction is finished, the total cost could
be assumed to be treated as an asset increase to the value of the house?
In this instance, would all additional expenses occurring during
construction be treated as a debit on my bank account but a credit as an
asset increase?
I would really appreciate some advice from any of the many knowledgeable
users on this forum.
Cheers

-- 
*Tony Vanson*

*The older I get,*
*the better I was*
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