Rebecca and Stew traded in the city for an artisan lifestyle in the country. To fund their new lives, they need to cash in on local tourism with a vacation property. Scott McGillivray presents two options for their property: build a B&B within their home vs. convert their freestanding art gallery into an apartment.
Roz, a television personality, and Katherine, a photographer, need a retreat from the limelight. To help them afford a country cottage, they need to transform the dated space into an upscale rental retreat. Scott McGillivray presents two options for the property: a cosmetic update vs. a major overhaul.
Leah and Stew are ready to grow up and move out of Leah’s mom’s house. They want to renovate the main floor of their house to bring in extra cash to cover their first mortgage. Scott McGillivray presents two options: a two-bedroom vs. three-bedroom.
Jen and Paul need to build a basement apartment to repay the $82,000 debt incurred by the renovation of their disaster home. But there’s a catch: Jen will only go through another renovation, if her old high school friend, Scott McGillivray, is the contractor.
Kathy, a high school teacher, is ready to move out of her parents’ house for the first time. With her sister in tow, she needs to build an income property to ease her into homeownership expenses. Scott McGillivray presents two options for the side-split: a one-bedroom vs. a two-bedroom.
Three sisters, Liza, Mary, and Stella team up to transform Liza’s basement into a retirement apartment for their aging parents. Scott McGillivray presents two options for the space: a one-bedroom vs. a two-bedroom layout.
New parents, Leanne and Richard, want to start a college fund for their baby boy. Leanne’s sister, Michelle, teams up with the couple to invest in real estate. Scott McGillivray presents two options for their unfinished basement: a one-bedroom vs. a one-bedroom plus den.
Jeff and Lee plan to fund their retirement with multiple income properties - and they’re even willing to live in their basement to save extra money. Scott McGillivray presents two options for their unfinished basement: a one-bedroom vs. a two-bedroom.
Nellie and Joe have two teenaged kids to put through college. To make some extra cash, they just bought their first income property. Scott McGillivray presents two options for their unfinished basement: a two-bedroom build vs. a three-bedroom build.
Vic needs to pay for his mother’s pricey retirement residence by converting her old apartment into a money-making income property that would make her proud. Scott McGillivray presents two options for his main floor: a one-bedroom revamp vs. a two-bedroom rebuild.
New lovebirds, Andrew and Maria, just bought their first home on the same street where Andrew’s dad was raised. But for this young couple to afford a mortgage, they need to reno their second floor into it’s own apartment. Scott McGillivray presents two options for their upper floor: a two-bedroom vs. a three-bedroom.
Paul and Angela are a fun-loving couple who want to buy a commercial building to run their doggie boutique. To save up enough money, they want to reno their single-family rental home into two units. Scott McGillivray present two options for their upper floors: a basic two-bedroom vs. a souped-up two-bedroom with rooftop deck.
Sheri and Dan need extra cash to pay for the extracurricular activities of their three young sons. They want to provide the boys with the very best - and that starts with hockey.
Asad, a stage hypnotist, needs to rent out his condo while he’s away performing so he can make extra money to develop a broadway show.
Ashley and Tyler, a young urban couple, need to renovate their uninhabitable rental property because they have big dreams of supplementing their retirement with real estate.
Dany, a firefighter, and his fiance of seven years, Genevieve, need rental income to retire early and travel the world.
Sisters, Kelly and Nancy, need to renovate their mom’s basement into an apartment to get rid of the mold - and help mom afford the mortgage.
Helene is an actress who needs to make money from her home because acting gigs can be unpredictable and infrequent.
Kim, a police officer and veterinarian, wants to build an apartment in her basement where she can live while renting out her main floor. She’ll use the extra money to pay down her mortgage so she can retire in 10 years and volunteer in Mexico.
Anne and Jody bought a cottage duplex for their young family. To afford the mortgage, they need to renovate and rent one half of it. Scott McGillivray presents two options: a cosmetic upgrade vs. a cosmetic upgrade with higher-end finishes.
Andrea and Mike want to build a portfolio of vacation rentals. To save up for their second property, they need to transform their humble waterfront cottage into a place that makes money year-round. Scott McGillivray presents two options for the property: one that upgrades the interior vs. one that extends outdoor space.
Kat and Andrew need to rent their main floor to fund fertility treatments. They want children as quickly as possible so Kat can have preventive surgeries to reduce her risk of hereditary breast and ovarian cancers.
Michael and Kristine need rental income for financial security while they both work for the same solar energy startup.
Foster parents, Rob and Heidi, need to renovate their basement into an apartment to safely ease their foster sons into adulthood.
Adrian and Jennifer need to find a home with an income suite so that they can repay the debt they’ve accumulated while planning their wedding. They know that they’re beginning their lives together on the wrong financial foot, so they’re anxious to find a home with an income suite so that they can dig themselves out of debt while helping secure their joint financial future.
Alexis and Craig need to find and renovate a house with a basement apartment so that they can afford to become homeowners for the first time. They want to get rid of their matching college-like apartments, and live together for the first time - while both making their very first foray into homeownership. They long for a chunk of real estate to call their own, but just can’t afford it without a rental apartment to supplement their monthly expenses.
Cheryl and Amreed desperately want to start their lives together, but the only way that they can afford to lay down roots with their own property is to buy one with a rental apartment. They’ll use the apartment to supplement their mortgage and monthly household bills, while repaying Cheryl’s student loans, and finally living under one roof.
Cory and Julie need to find and renovate a home with basement apartment so that they can successfully invest in real estate - on their third try. They need Scott to not only crunch the numbers for them during the house hunt, but also to reel them in during the renovation of the home that they opt to purchase.
Jamie needs to find a home with an income suite that he can renovate and rent in order to supplement his irregular salary enough to keep producing documentary films. Jamie has never purchased real estate before. After witnessing his mother’s successes with commercial real estate, Jamie is keenly interested in pursuing the same kind of property with Scott’s help and wisdom.
Aaron and Jessica need to find and renovate a house with an income suite so that Aaron can move out of his parent’s house, and help financially-sustain a household for the very first time. He and Jessica want to start a family, make a joint investment, and live happily ever after.
Lysa was downsized from her job, so she needs to sell her current home to find and renovate a house with income suite to help supplement her income until her new business can sustain itself. She believes the opportunity to work with Scott will not only alleviate her financial stresses, but will finally provide her with the freedom to follow her dreams and become personally-fulfilled.
Miranda and Fab need to find and renovate a dedicated investment property so that they can fulfill their mutual dream of retiring at 55 years old. They’re smart enough to know that “Freedom 55” won’t happen unless they can figure out a way to supplement their incomes enough to stop working, which is why they have their minds set on real estate. They need Scott’s help to find and renovate their first of many income properties so that they can quickly “take over the suburbs as land baron and baroness.”
Nicole and Michelle need to find and renovate a dedicated income property in order to repay Michelle’s student debt, while making a joint investment to secure both of their financial futures like their late mother would have wanted.
Robert and Stephanie need to find and renovate a house with a basement apartment so that they can make up for the time and money lost during the two years that Rob was unable to work as he awaited his immigration papers. They literally cannot afford to fall further behind, so they need to make sure that they get this project right on the first try.
Rodrigo and Ana need to find and renovate their first dedicated income property so that they can fund opening an orphanage in Rodrigo’s native Ecuador. In order for them to afford a home in an expensive urban city, Ana’s parents will invest their retirement savings into funding this property.
Sherief and Christine need to find a house with an income suite so that they can afford to move their four children under 7 years of age into a bigger home. Christine won’t be able to return to the workforce for another four years, and Sherief already works “all day long”. They need Scott’s help to find a large home with a basement apartment that they can rent to supplement all of the additional costs that come with a larger home.
Yoni and Shannon need to find a home with an income suite so that they can afford their dream lives in the city. They’re ready to sell both their condo and their failed income property in order to afford the down payment on their dream home. They want to buy into a “forever home” neighborhood, so they know they’ll need a basement apartment in order to afford it.
Dave and Lucia need to find a house with a basement apartment that they can rent out to be able to afford to live close to Lucia’s family, while saving to build a real estate empire. These two are depending on Scott to teach them not only how to find and renovate a home, but how to create a lasting legacy for their family.
Joseph needs to “downsize” to a fixer-upper property with income suite that he can rent out to lower his monthly mortgage payments, while reducing his debt load from years of paramedic training, and trying to carry a mortgage on a single-income. He needs Scott’s help to find and renovate a property for one “last shot at independence” before he has to move in with his parents at 40 years old.
Erin needs to find a house with basement apartment so that she can afford to ditch her condo and get into the expensive housing market. She refuses to put her dreams of homeownership on hold any longer, and anxiously wants Scott to be her wingman to find “the one” perfect home.
Jen and Brock are urbanites that live by the motto, “go big or go home”. With the purchase of a property, they will become first-time homeowners, first-time landlords, and first-time renovators all at the same time. They need Scott to show them how to make the most of their limited funds, to invest in a house, while building a great rental apartment in the city’s hottest neighbourhood.
Ann-Marie and Scott need to find their first of many income properties so that they can afford to save enough money to travel the world. Without Scott’s help, these two fear that they won’t be able to put the framework in place to buy multiple properties to fund the globe-trotting lives that they so desperately want.
Marissa and Bryan need to find a house with income suite so that they can afford to carry their own mortgage and move out of mom’s house. Without Scott’s help, these two won’t be able to strategically find a way into the pricey housing market – or even worse – will start their married lives together rooming next to mom.
Sarah and Matt need to find a house with basement apartment, so that Sarah’s mom can live with them after the death of her husband. These three need Scott to show them how to balance three opinions, when you only have one house to buy.
Michael and Karen need to find an urban house with basement apartment so that they can afford to move into the city and reduce Karen’s 2-hour commute to work. Without Scott’s help, they know that they’ll be stuck in the ‘burbs – or even worse – Karen will miss out on precious family time with their baby boy.
Allan and Nasreen need to find a home with an income suite to supplement Nasreen’s income as she leaves the workforce and starts her own reiki healing business. This property will be both Allan and Nasreen’s first foray into homeownership, so they’re relying on Scott to help them find and renovate the perfect property, which will play triple duty as their home, a source of income, and a space to grow their business.
Grant and Eve need to find a home with rental suite so that they can fund their annual $10,000 trips to Australia to visit Grant’s family and hometown. They need Scott’s help to make sure that they secure their finances in such a way that they feel safe and confident in their new roles as landlords.
Karen and Nick need to find a house with income suite so that they can afford their dream lives in the city. They have big dreams, and need Scott’s help to seize clever real estate and renovation opportunities in order to afford their ideal lives.
Sidra needs to find an investment property so that she can honour the hard work and sacrifice of her parents, while also fulfilling her secret desire to become a contractor. Without Scott’s help, Sidra fears she won’t become a successful real estate investor, or even worse, won’t be able to show her parents that all of their hard work and sacrifice paid off.
Mike and Vita are successful professionals, but when it comes to the world of income properties, they’re on brand new turf. They want to purchase a dedicated rental property with long term value. Scott guides this couple on how to find the right house in the right neighbourhood.
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.
Stephanie and Elyse are a cop and paramedic thinking ahead. They have big dreams of securing their financial future together, and have chosen real estate as their investment of choice. Scott shows them how to find a dedicated income property to best invest in their future - STAT.
Andrew and Chris are life-long buddies each living in the suburbs of the big city. They have big dreams of using a portfolio of shared income properties to retire at age 55. Scott shares his first-hand advice with these rookie investors. He helps build the foundation for the boys’ business, so that it maintains financial success – and most importantly – their friendship.
Kuo Bao and Megan are a twenty-something couple living and loving life in the big city. This ambitious couple is determined to grow a portfolio of investment properties together, in order to support their aging parents throughout retirement. With a lofty goal of supporting themselves and two sets of parents, Scott shows them how to find the right house to achieve their financial goals.
Dan and Tania are a young couple determined to leave their parents’ suburban homes in exchange for the big city. They need to find a home with multiple units, so that they can afford to live where they like to play.
Alison and Deirdre are sisters whose only thing in common is their DNA. They’re best friends, confidantes, and partners in crime, but most of all – nothing alike. Alison wants to buy her very own income property, but Deirdre thinks it’ll be a hassle, and discourages the whole thing. Scott helps Alison approach her purchase as a investor versus emotional homeowner. It’s about practicality and functionality, and of course - some sibling rivalry.
Jeff and Kirsti are newlyweds living the big-city life: paying too-high rent for a small apartment in the sky, and relentlessly working 9 to 5. They want to become the couple that’s ahead of the pack, choosing work based on passion versus financial need. Scott shows this ambitious couple how to balance an investment property with a home - large enough to accommodate their expanding family.
Karen and Kevin are a twenty-something suburban couple totally in love, totally committed – and totally not on the same page. Kevin wants a real estate empire, and Karen wants nothing to do with it. Where Kevin sees opportunity, cash-flow, and excitement, Karen sees hardship, debt, and drama. Scott settles this couple’s differences, by showing them how to make a smart, wise, and most of all safe, investment.
Marli & Toby are serial renters ready to become serious investors. They’ve borrowed a pretty penny from Marli’s parents over the years, and know that it’s time to start repaying the debt. Scott helps them decide between single-family homes with income potential, and an existing duplex.
Jason and Peky are an ultra-energetic 21st century couple. They’re married, expecting a child, and are ready to buy their first income property – all at once. As they save money for their growing family, they can’t spare a single penny to start repaying Peky’s monumental student debt. Scott shows them the value in the fixer-upper properties that they can afford, and helps them find the perfect basement apartment to kickstart their lives together.
At 34 years old, Sarah and Milo have big dreams of saying sayonara to their jobs by the time they’re 45. Scott shows them the difference between what makes a house a good home, and what makes a house a good investment. It’s a race against time for these two, who know that without Scott’s help, their current rut will remain their permanent routine.
In this one-hour special, Scott McGillivray counts down the top ten Income Property transformations. With each reno, we highlight the smart renovations that helped add incredible value to the property. The six figure value added to our number one reno will blow you away.
Andrew’s taken apart a duplex to turn it back into his own single family home – and he wants this to make him money. Mending this drawn-out mess means Andrew’s got to lose the tools and gain some roommates.
Jerry and Amee just bought a house and are about to get married so why not tackle a renovation too? Adding an income suite to their basement will help fast track their family plans so they can have it all.
Marko and Jackie are an urban couple who want to take control of their financial future. Jackie already owns an income property, so Marko is desperate to get into the game. Scott shows Marko how to best invest in real estate to ensure the maximum return on his first investment property.
Rui’s had enough bad luck and is ready to catch a break. Living with his kids downstairs and finally finishing the apartment upstairs will get Rui back in the game and back to playing with his kids.
Sean needs to divide this single family home into two units so that he can live in the main floor apartment and rent the upper, in order to attain his goals of living simply, working smarter and paying off his mortgage faster.
David & Peter want to update & rent their main floor suite in anticipation of getting enough rent to cover their entire mortgage.
Laura and George need to make improvements to the exterior and common spaces of their income property so that they can manage its maintenance on an ongoing basis, eventually raise the rents and reap their rewards, as this house becomes their retirement fund down the road.
Reena and Kulvir need to update and rent their basement apartment so they can save to add a second story addition to their tiny home in order to make space for the family they’re planning!
Naomi and Scot need to renovate the second floor apartment of their 5 unit apartment building so they can increase the rent which will help them to pay their huge mortgage, family loans and the high costs of running this building - sticking to their plans for the property will help maintain their friendly status as partners!
Nelson and Sarah need to renovate this basement apartment to attract a good tenant so they can keep on top of their expenses while Sarah’s income ebbs and flows as she gets her new business off the ground, and to help fund the rest of their own renovations upstairs.
Susan is running this house on a single income, she needs to turn her finished basement into an apartment to bring in a second income, which will help to pay the bills and provide financial security for her family’s future.
Rosalina and Arun are burnt out and need to finish their never-ending basement renovation so they can concentrate on finishing their own living space for their growing family.
Monica and Raphael need to upgrade their income property so they can pay the mortgage and costs of this triplex and eventually supplement their retirement income with this investment.
Angie and Jung need to solve the basement apartment’s mysterious water problems so it can be renovated and rented and they can pay their mortgage and start their family.
Patricia and Manny need to create an apartment in the basement so that they can supplement Manny’s single income during Patricia’s maternity leave with their new twins.
Carmen and Vanessa need to create an apartment in their basement so that they can afford the monthly mortgage payments while they find jobs and get established in their new careers.
Jasmine needs help to move this renovation forward so she can get the rental suite occupied, as it is the foundation of the financial plan that will pay for her son’s university education.
Brendan needs help to prioritize his renovation dollars to fix up this run-down, two level apartment so he can keep to his income property plan and pay down his 35 year mortgage.
Rachael and Steve are carrying big mortgage payments. They were counting on a basement apartment to supplement their income and future day care expenses but they have no time to renovate. As Scott starts the reno, he discovers a much needed repair that could be life-saving.
Chris and Haelee lost a great tenant when a flood forced them to gut the basement apartment in their home. They need to re-construct the apartment and rent it out in order to get back on track with their long-term plans, which include, renting the whole house out and buying the home of their dreams.
Kat and Al bought the house they were renting in. Due to a mould issue in the basement apartment it’s been gutted and is waiting to be refurbished. They need to finish the basement asap so they can rent it out and have their house pay for itself, as planned.
Melanie & Pavan discovered problems with the basement apartment while Pavan’s sister was living there. When she left over a year ago, they planned to soundproof and upgrade the out-dated unit. However, neither one of them is handy nor do they know where to start. They need help getting this project started and getting it finished.
Manny & Jessica are both working long hours, plus they’ve been working on their partially renovated main floor apartment. More than a year later it remains completely un-rentable. Their mortgage financing is based on the income from this apartment, so it is essential that Manny and Jessica get this apartment finished for new tenants.
Dale and Erin need help updating their basement apartment so they can pay off down debt and take the next step to finally ‘make it official’ – with a ring, a wedding and a family.
Nancy needs to reconfigure the basement apartment in her bungalow in order to create a separate, self-contained apartment, which she can rent out to alleviate the burden of her monthly expenses as sole provider for her family.
Barb and Jamie started renovating three years ago, doing all of the work themselves. Since then, Jamie has been trying to complete the construction after hours and entirely on his own. They need to finish renovating the main floor apartment so that they can rent it and begin to recoup their over-budget renovation and three years of lost rental income.
Claire and Ryan need to renovate their Granny flat in order to make it a legal apartment that they can rent to a non-family member. This rental income is critical make their monthly housing expenses.
Single mom Lori needs to do some serious maintenance work and upgrades to the main floor apartment before she can rent it to a responsible tenant who appreciates its inherent character. The rental income is essential for her to pay the bills and provide for her family.
Sabrina and Daryl need to reconfigure and update the lower apartment in their triplex -the bathroom is outside of the apartment in the corridor! They desperately need to resolve the privacy issue before they can attract the tenant they want and earn the income they need to keep on track with their financial and personal goals.
Martha and Darryl want to start a family but they’ve had much difficulty doing so. They urgently need to finish their upper unit apartment in order to rent it out and settle in downstairs so that they can reduce the emotional and financial stresses of starting a family.
Lisa and Matt need Scott’s help to renovate their main floor apartment to allow Lisa’s disabled brother comfortable visits as well as appeal to month-to-month executive renters to generate untapped income.
Lisa has been waffling over creating an income suite for the last five years and has lost potentially $50,000 in income. If she doesn’t stop procrastinating and install an income suite in her basement, she risks both her own future as well as her mothers.
Divorced dad Kerry needs Scott’s help to finish the basement apartment so that he can collect rental income to give his children the life they deserve.
Tracey fell in love with her home the first day she saw it. In the ensuing months, she has done more destruction than construction and has lost the passion she once felt for her home. Tracey needs to complete the renovations in the upper unit and get it rented in order to finance the renovations for her own apartment and fall in love with her house again.
Andrea and Luke have a five-year financial plan based on the second floor apartment being consistently rented. Without the income generated from this apartment their goal of starting a family in a single-family home will be jeopardized.
Rushad wants to move out of his parents’ house and into the triplex he bought last fall. Unfortunately unless he can get the main floor/basement suite renovated and rented, that’s never going to happen. Rushad needs the income from two of the three suites to help cover his costs.
During 18 months of unemployment, Crystal came to depend on her improvised, second floor apartment to avoid defaulting on her mortgage while racking up major debts to keep the house running. The tenant is now gone and the debts accumulated will take years to pay off without a consistent income from the half story apartment.
Antoinette and Mike need a safe income suite tout de suite because Antoinette is expecting and they need the extra income.
Laura & Peter need to convert the existing professional office space in the basement into a stunning apartment suitable for their cool neighbourhood in order to take control of their spiralling debt and mortgage payments. Without the apartment Laura and Peter will have to face the fact they cannot afford the house and will have to sell.
Bonnie & Merv have credit card debt in addition to a big mortgage. Bonnie & Merv need Scott’s help to complete their basement income suite so that they can get out of debt and down the aisle before the end of the year.
Courtney & Emily need to get their unfinished basement renovated to a high standard apartment ASAP to be able to afford the extra $100,000 mortgage they took on to buy the home. Without the extra income they will burn through their savings trying to keep up with the large payments and eventually have to consider selling the house.
Henri and Lori need to renovate their outdated income suite FAST so that they can maintain the income they’ve relied on to help offset their heavy business taxes. Without Scott’s help, they will suffer from significant monthly shortfalls imminently.
Jeremy and Angie need to renovate their dilapidated basement apartment with Income Property help because they desperately need the income. If they don’t rent it out they will forgo the dream of Angie staying to raise their young son.
Income Property is back for a second season with a new set of first time homeowners and their shared goal: to add an income suite in their home to help out with the mortgage payments and increase the value of their home sweet home.
Victoria and Evan are young, smart and ambitious. 2 years ago, the pair started a business together with offices in 2 separate cities. But when the lines between work and home became blurry, Victoria and Evan decided to buy a property to get a greater return on their investment. The building has an apartment they can rent out to help pay the bills but it needs a lot of work - Scott will help them figure it out.
Marsha and Ellwood married 4 years ago bringing two kids each to their blended home and a future with three college educations to consider... They also bought a new house with a separate apartment that needs a good reno before it can be rented out. Could this apartment be a new home for their eldest daughter AND a long-term solution to their financial challenges? Scott is going to show them how to do it.
Allison and Rob’s income dipped due to a career change and maternity leave. Luckily, they have an income suite in their basement that can help them maintain their great standard of living.
Evelyn and Armel had an energy audit and now they’re racking up debt in order to make smart improvements to their home. They need the income from an accessory apartment to help out with the costs of renovating for the long-term.
Jennifer and In-Suk experienced a financial setback. With Jennifer on maternity leave and In-Suk unemployed for the last seven months, this couple needs an income suite to offset their mortgage costs and help them afford the home they love in a great neighbourhood.
Julie and Andy intend to renovate the existing income suite in their new home. They just can’t make it happen: they have demanding careers and no renovation experience. Their sweet little income suite needs Scott’s skills and reno savvy.
Daria and James fell in love, got engaged and bought a house. Two years later they are still not married and they’re spending over 50% of their income on their home. They need an income suite if they ever hope to tie the knot and keep their heads above water.
Brad and Nikki always knew what neighbourhood they wanted to live in, but they also knew they needed an income property to be able to afford to live in it. So when they found their first home with a basement apartment complete with a quality tenant, they thought they were set. Two years later the tenant has moved out, the apartment has fallen into disrepair, is illegal, and is not up to the standards of their upscale neighbourhood. In order to get the rent they need to afford their mortgage, Brad and Nikki need Scott’s help to create a legal apartment that can compete with the rest of the high-demand condo units in their area.
Expecting their first baby in nine weeks, Shawn and Sarah thought ahead when they bought their first home, purchasing one with an existing basement apartment. They figured they would need the income to make the mortgage payments in the short-term with a plan to eventually move Shawn’s mother and brother into the basement to assist with the finances in the long-term. Unfortunately, neither Shawn or Sarah have a clue what it takes to upgrade their suite into a legal apartment that will command top rental income, and they don’t have time to find out.
Sean bought his semi-detached, former boarding house with the intent of converting it into a duplex to help pay the mortgage. Disaster struck within 48 hours of moving in, when the drain in the basement overflowed and filled the basement apartment with sewage making it impossible to rent. Instead of fixing the mess, Sean chose to tackle the work in the rest of the house, resulting in a year long basement vacancy. To add to the pressure, Sean started a new job AND proposed to his girlfriend, Ania. Not only do Sean and Ania need to fix this rental property to help pay for their mortgage, but they also need it to pay for a big wedding.
Samantha and Andrew were smart enough to buy their first home with a fully functioning basement apartment already built-in. They were told the previous owner had been renting the basement for $800 a month, which was exciting news to them. But when closing day arrived they were shocked to see the actual condition of the basement. Now Samantha is between jobs and they are desperate to take some pressure off of their finances. Fixing up this existing income suite seems the obvious solution, but it’s going to take a lot of work and some brilliant design ideas.
Heather is a teacher who bought a newly renovated bungalow with a “ready to rent,” two-bedroom basement apartment but a home inspection revealed some minor fixes for which Heather set aside over $20,000. Unfortunately, it turned out that nothing was to code- minor fixes turned into a complete rewiring of the entire house, costing three times more than she had planned for. Heather needs to finish the basement just to get her money back; she needs the income from a rental suite in order to even consider keeping her house.
Elliot bought his first home and has big dreams for it. Unfortunately bigger isn’t always better. His elaborate plans are taking way too long and costing way too much. Scott is going to show him how to spruce up his income suite without spending his entire life savings. Money pressure, time pressure, and on top of it all, there’s a girlfriend who is waiting to move in…
Tai and Beatrice have dug themselves into a hole, both literally as well as financially. They went way over budget when they purchased their dream home, and as soon as they moved in, they took the advice of a relative and began digging a hole in their basement to upgrade the old plumbing system. Scott suggests some green solutions that will save them money in the short-term and ultimately bring in more money in the long run.
Martin & Isidora have found their dream home, but the basement needs a lot of work. Closing date has been pushed up by 3 months, and they have already promised their tenant she can move into their basement apartment 15 days after they take possession. Problem is, it’s going to take all 15 days to get it up to a standard that their renter and her 7-year-old daughter can move into.
Peter purchased an expensive, fully renovated Victorian in a hip downtown neighbourhood last year. Adding a potential rental suite in the basement was his plan and the key to bringing down his substantial mortgage. But with a demanding new job, lots of travel and new interests, Peter hasn’t gotten around to getting that basement ready and rented out. He would like his rental suite to give him security and the freedom to make a career change down the road – to maybe even fly solo.
Kirk and Stephanie bought their dream house 3 years ago, and have since spent every waking moment improving the condition of each of the three apartments in the building. Now they are thinking about starting a family and someday would like to be able to take over the whole house. They intend to keep the basement as an income suite to give them long-term security. With changes and upgrades made to the basement apartment they know they can charge a higher rent and make the most of that space.
When Jay and Kathryn moved into their new home they never thought they would outgrow it so fast! With two kids in the family space is at a premium. Kathryn and Jay need an income suite to increase the value of the house in the marketplace and generate the income to pay the mortgage in full so they can start saving for a bigger home.
Connie and Sebastian are hands on first-time homeowners. A little too hands on. As soon as they moved into their new home they were lifting carpets, peeking behind walls and dreaming up plans for every square foot. This 100-year-old Victorian semi-detached used to be a rooming house. The bubbly couple got rid of most of the evidence from the previous apartments, but are now left with some holes here, a crack there and the potential for an income property that’s going nowhere.
When Steve was searching for his first home, he knew exactly what he wanted: a triplex that would bring in double the rental income. For the past four years Steve has successfully rented out two units, but now his mortgage is up for renewal and in this credit crunched economy, it is estimated that tax values will increase on average by 20%. On top of this, Steve is renting out his basement unit well below the market value. Steve needs Scott’s help to update his basement suite to help offset his increasing mortgage and be able to charge top dollar for the apartment.