Episode Theme: Luxury Retreat
Roz and Katherine need to rent out their cottage to finance renovating it into a beautiful family retreat without any financial impact. This is really a story about escaping the city to slow down and reconnect with family.
Design Theme: Industrial Farmhouse Chic
Purchase Price: $195,000
Realtor Appraisal: $320,000
Increased Property Value: $125,000
Chosen Renovation Option: $80,000 – Repaint the exterior, replace floors, redo kitchen & bathroom, add bedroom walkout, and install fireplace in living room. Expected rent of $1250/week in high season.
Alternate Renovation Option: $65,000 – Leave the layout but redo kitchen, replace windows and floors, makeover the bedrooms and gut and redo bathroom. Expected rent of $1000/week in high season.
Estimated Weekly Rental Income: $1350 (in high season)