Episode Theme: Making Sound Decisions
Mary and Bridge dream of comfortably retiring to the great outdoors, without having to worry about money. They need to find a family home with basement apartment potential to fund their retirement dreams. Scott shows them how to make a wise investment in the country, while maintaining the balance between their dream home and a hot rental property.
Design Theme: Classic Executive
Purchase Price: $349,000
Realtor Appraisal: $489,000
Increased Property Value: $140,000
Chosen Renovation Option: $55,000 – One bedroom apartment with high end features for an executive renter. Potential rental income of $850/month.
Alternate Renovation Option: $60,000 – 2 bedroom executive rental with hardwood floors and fireplace. Potential rental income of $950/month
Estimated Monthly Income: $1,000