Episode Theme: Fishing Dreams, Rental Reality
After an unexpected health crisis, Astrid and Sheldon need to renovate and rent their vacation property in order to make their cottage dream a reality. Astrid’s recent stroke was scary and eyeopening. She doesn’t want to park her dreams; she wants to make them a reality right now. This cottage is the first step towards her and Sheldon’s newfound “no time like the present” attitude.
Design Theme: Classic Cottage
Purchase Price: $269,000
Realtor Appraisal: $360,000
Increased Property Value: $91,000
Option 1: $45,000 – Total cosmetic makeover with new flooring throughout, plus full kitchen and bath remodels. Estimated rent of $1200/week in the high season ($4800/month).
Option 2 *CHOSEN*: $55,000 – Everything option one has to offer plus a new, large deck, and exterior paint job. Estimated rent of $1400/week in the high season ($5600/month).
Estimated Weekly Income: $1,700 in the high season ($6800/month).