For Sarah and Matt, it was all about family. They needed to find a house that worked for them, but also for Sarah’s mom, who would be moving into the basement apartment after the death of her husband. There were a lot of emotional factors at play in this home-buying decision and even more emotions when mom’s apartment looked like it was overrun with ants and mold. But at the end of the day, we managed to balance three opinions in one great basement.
Design Theme: Mum’s Relaxing Retreat
Purchase Price: $260,000
Realtor Appraisal: $310,000
Increased Property Value: $50,000
Chosen Renovation Option: $35,000 – One bedroom basement apartment. Estimated rental income $850.
Alternate Renovation Option: $45,000 – Two bedroom basement apartment. Estimated rental income $1000..
Estimated Monthly Rental Income: $1,000