Episode Theme: Mission: Independence
Caitlyn needs to renovate and rent her waterfront home in order to set herself up for long term financial independence.
Design Theme: Country Comfort
Purchase Price: $286,000
Realtor Appraisal: $375,000
Increased Property Value: $89,000
Option 1: $45,000 -Gut and install brand new kitchen, new floors throughout, bathroom transformation and bedroom refresh. Living and dining areas will get furnishings plus new wood stove. Estimated rent of $1,200/week in the high season ($4,800/month).
Option 2:*CHOSEN* $65,000 -All of option one plus an improved layout in the kitchen. Expand master bedroom and add fireplace. Estimated rent of $1,500/week in the high season ($6,000/month).
Estimated Weekly Income: $1,600 in the high season ($6,400/month).