Ep 8. Do It Right the First Time

Income Property is a popular Canadian home renovation and real estate show that follows host Scott McGillivray as he helps homeowners turn their unused spaces into profitable rental units. In season 1, episode 8, titled Do It Right the First Time, Scott works with a family who is looking to transform their neglected basement into a beautiful and functional rental apartment.

The episode begins with Scott meeting with the homeowners, a young couple who recently purchased a detached home in the suburbs of Toronto. They explain that their basement is currently being used as a dumping ground for old furniture and other items they no longer need, and they want to convert the space into a self-contained apartment that could be used as a rental unit.

Scott immediately sees the potential in the space and sets to work creating a plan that will maximize its potential. He explains that although the couple has a relatively small budget, there are still ways they can make significant improvements to the basement that will increase its rental value.

The first step Scott takes is to assess the space and determine what needs to be done to bring it up to code. He discovers that the wiring and plumbing are outdated and need to be replaced, and the ceiling needs to be raised to make the apartment feel more spacious. He also suggests adding an egress window to the space, which is essential for safety and code compliance.

Once the necessary repairs are made, Scott turns his attention to the apartment's layout. He decides to create an open-concept living area that includes a kitchen, dining, and living room space. He also includes a separate bedroom and bathroom, ensuring that the apartment has everything a tenant could need.

Throughout the episode, Scott works with a team of contractors to complete the renovations, including electrical and plumbing work, framing, and drywall installation. He also takes the time to explain to the homeowners what each step entails, so they can understand the process and make informed decisions.

As the renovation nears completion, Scott focuses on the finishing touches that will bring the apartment together. He selects high-quality flooring, cabinetry, and fixtures that are both functional and stylish. And, he includes plenty of storage options to ensure tenants have ample space for their belongings.

Finally, after several weeks of hard work, the finished apartment is revealed to the homeowners. They are thrilled with the outcome and amazed at how much the space has been transformed. Scott explains that the apartment could easily rent for $1,200 per month, which would be a significant source of extra income for the family.

Overall, season 1, episode 8 of Income Property is an inspiring and informative episode that highlights how a neglected basement can be transformed into a beautiful and profitable rental apartment. Scott's expertise and guidance help the homeowners make the most of their space and provide them with a valuable source of extra income.