Episode Theme: Keeping It In the Family
Carla and her son Nick have decided to turn their vacation home into a part-time rental property. That way Carla and her husband can live out their travel dreams while still hanging on to their memory-filled beach home for their children and grandkids.
Design Theme: Beach House Chic
Purchase Price: $560,000
Realtor Appraisal: $650,000
Increased Property Value: $90,000
Option 1: *CHOSEN* $65,000 -Start by decluttering and depersonalizing the space, then refinish the existing floors, install heated tiles in the kitchen, give the living room and dining room a refresh, update the fireplace, give the bathroom a facelift and update main entrance so it can also function as an extra bedroom. Estimated rent of $1500/week ($6,000/month).
Option 2: $85,000 -All of option one plus add an exterior bunkie with an entertainment center and fridge to accommodate an additional two people. Estimated rent of $1,800/week ($7,200/month).
Estimated Weekly Income: $2,500 in the high season ($10,000/month).