Welcome to the Episode Guides! Check out your favorite episodes, complete with Source Guides, to help with your design and renovation planning.

Income Property: Joseph

Joseph and I go way back. I’ve been good friends with his brother for years and gotten to know him as well. When I heard he was looking for an income property, I couldn’t help but lend a hand. Joseph needed to “downsize” to a fixer-upper property with an income suite that he could rent out to lower his monthly mortgage payments, while reducing his debt load from years of paramedic training, and trying to carry a mortgage on a single-income. This was his “last shot at independence” before resorting to moving in with his parents at 40 years old.

Design Theme: Nuts & Bolts

The Numbers

THE NUMBERS

Purchase Price:         $450,000

Realtor Appraisal:         $540,000

Increased Property Value:         $90,000

Chosen Renovation Option: $40,000 – One bedroom apartment with a reworked kitchen and cosmetic upgrades. Estimated rental income $850.

Alternate Renovation Option: $55,000 – Two bedroom apartment with new kitchen, new bathroom, and new layout. Estimated rental income $1000.

Estimated Monthly Rental Income: $1,000

More to Explore...

How to Choose Hardwood Floors

The number one phrase in North American real estate listings is “hardwood floors throughout.” And for good reason. Hardwood floors are durable, look great, and offer a great return on investment. If you know... Read More »

Smart Playroom Storage Tips

If you’ve got kids you know how their stuff can get absolutely everywhere. If you have space, a dedicated playroom is a great way to separate their stuff from your stuff and... Read More »

Coffered Ceilings 101

One of the best ways to add character and drama to a room is with architectural mouldings. This can be done with traditional crown moulding, wainscoting, panelling and even columns and beams. But... Read More »