Episode Theme: Chalet Charm
Shannon and Noah invested in a vacation property that was bigger than they bargained for. Now they need Scott’s help to figure out how to monetize it so they don’t lose it.
Design Theme: Lofty Living
Purchase Price: $802,000
Realtor Appraisal: $850,000
Increased Property Value: $48,000
Option 1: *CHOSEN* $40,000 -All new floors throughout, gut and rebuild the kitchen and bathrooms, living room and bedrooms get a refresh, new staircase, and turn the loft into a master bedroom suite. Estimated rent of $1,500/week ($6,000/month).
Option 2: $75,000 -All of option one plus make it an all-season rental by installing new windows and insulation throughout, upgrading the ceilings, and building a deck and stairs off the chalet. Estimated rent of $1,700/week ($6,800/month).
Estimated Weekly Income: $1,600 in the high season ($6,400/month).