Episode Theme: Foundation for Love
Barry and his girlfriend, Jen, need to rent Barry’s cottage to help put his kids through school, so he and Jen can start to save for a home together. If Barry doesn’t make extra cash, he’ll continue to put all of his money into tuition payments, and won’t have anything leftover to save for a house with Jen.
Design Theme: Cottage Chic
Purchase Price: $280,000
Realtor Appraisal: $4000,000
Increased Property Value: $120,000
Option 1: $55,000 – Gut and rebuild kitchen; refinish existing hardwood floors; refresh the living and dining areas; gut the bathroom and enlarge shower; a mini makeover for the bedrooms (including new furniture); and baseboard heaters throughout. Estimated rent of $1600/week ($6400/month).
Option 2 *CHOSEN*: $70,000 – All of option one plus blow out the kitchen wall to create an open concept space; new living room fireplace; and stand alone screened room on the deck. Estimated rent of $1800/week ($7200/month)
Estimated Weekly Income: $2,000 in the high season ($8000/month).