Ep 10. Reena & Kulvir Need to Rent Their Basement Unit so They can Save to Add a Second Story to Their Home

In the fifth season of the popular HGTV show Income Property, episode 10 follows the story of Reena and Kulvir, a young couple living in Canada who want to save enough money to add a second story to their home. With the cost of living on the rise, they have found it challenging to save up enough money for the project. To help them achieve their goal, they have decided to rent out their basement unit to generate extra income.

With the help of host Scott McGillivray, a real estate expert and home renovation contractor, Reena and Kulvir aim to turn their unused basement into a desirable living space for potential renters. Scott guides the couple through the renovation process, offering his expertise on design, planning, and construction in order to make the renovation as profitable as possible.

The episode begins with a tour of the current basement space - a dark, outdated area with low ceilings and limited natural light. Scott immediately sees potential in the space, which has its own entrance separate from the rest of the house, and envisions a bright, modern living space that will attract renters.

The couple's budget is limited, so Scott must get creative in order to transform the space without breaking the bank. He recommends a cost-effective strategy that involves using neutral, timeless materials that will appeal to a wide range of renters, while keeping the overall design simple and chic.

Throughout the renovation process, Scott works closely with Reena and Kulvir to ensure that the final product meets their needs, while also attracting the right kind of tenants for their property. They work together to choose custom finishes, appliances, and furnishings, all while keeping in mind the importance of durability and functionality in a rental property.

As the renovation nears completion, Reena and Kulvir begin to feel confident in their decision to rent out their basement. They have created a beautiful, functional living space that they are proud to show off to potential renters, and are excited to see the financial benefits that renting out the space will bring.

The episode concludes with the couple showcasing their newly renovated basement unit to a group of potential renters. The space is warmly received and the feedback is positive, leaving Reena and Kulvir feeling confident that they will find the right tenants to help them achieve their goal of saving up for a second story addition to their home.

Overall, Income Property season 5 episode 10 is a great example of how strategic home renovations can lead to significant financial gains. With the guidance of a real estate expert like Scott McGillivray, homeowners like Reena and Kulvir can turn unused spaces into profitable rental units, all while adding value to their homes.