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

Income Property: Yoni & Shannon

Yoni & Shannon were city folks through & through – no doubt about it. So their condo on the outskirts of the city just wasn’t cutting it anymore.

They wanted what every homeowner wants: lots of space, desirable neighbourhood, and to get their “forever home” right off the bat. All those things? Well they cost a lot of money. And because the house itself had a huge price tag, we all hoped that any bad news would be minimal. Unfortunately, once we pulled down some walls and the ceiling, turned out that this house had the most problems per square foot that we’d ever seen.

Because of the budget-busting renovation to save their house, the biggest question was: would they move into the basement and rent the upstairs to recoup some of that money?

Design Theme: Modern Glamour

The Numbers

Purchase Price: $805,000

Realtor Appraisal: $875,000

Increased Property Value: $70,000

Chosen Renovation Option: $40,000 – A bachelor apartment with new entrance, revamped washroom, extended kitchen and new partition between living room and sleeping area. Estimated rental income $1000.

Alternate Renovation Option: $45,000 – One bedroom apartment with full bathroom upgrade, new kitchen layout and new bedroom/office. Estimated rental income $1150.

Estimated Monthly Rental Income: $1,200

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 »