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

Income Property: Alexis & Craig

Serial renters Alexis & Craig were tired of living like college students. Both in their own small apartments, they wanted to invest in a house together and in a high-demand neighbourhood. This was the first foray into homeownership for both of them, and they had to do it in a smart way, since they were both freelancers with irregular income. They really needed my help.

Like many young, first-timers, location won out and they chose a house that required a ton of work. You never know what you’re going to find when you buy an old house and start tearing down walls, but you usually expect at least one thing to go right.

The reno started with good news (the subfloor was at least in good condition), but it went downhill from there. Mold, foundation problems, rodents, and incorrect plumbing made Alexis & Craig start to question their emotional decision.

Design Theme: Urban Retreat

The Numbers

Purchase Price: $460,000

Realtor Appraisal: $510,000

Increased Property Value: $50,000

Chosen Renovation Option: $40,000 – Cosmetic upgrade with new bathroom. Estimated rental income $1000.

Alternate Renovation Option: $65,000 – Enlarge the space to create a second bedroom and dedicated laundry area. Estimated rental income of $1300

Estimated Monthly Rental Income: $1,100

More to Explore...

How to Add Value in Living Rooms & Dining Rooms

Living rooms and dining rooms are just that – they’re where we live and where we dine. Generally speaking there’s not much to them (other than the decorative elements). The only real... Read More »

How to Win a Bidding War

The title of this post is a little misleading, because as far as I’m concerned, there’s no such thing as “winning” a bidding war. But in markets where demand is high and... Read More »

How to Take the Stress Out of Selling a Home

Every local market has its own buying and selling cycle, but conventional wisdom tells us that real estate generally hits an upswing in the spring. As the market suddenly gets more competitive,... Read More »