Ep 4. Alison and Deirdre

Alison and Deirdre are the featured guests in season 7, episode 4 of Income Property. These two sisters live together in a spacious but outdated home, and they're ready for a change. However, they don't just want any renovation - they're hoping to create an income property out of their home in order to generate additional income.

Host Scott McGillivray meets with Alison and Deirdre to discuss their goals and budget for the renovation. They hope to rent out the basement of their home, which is currently unfinished and unused. However, they also want to make some upgrades to the rest of the house to create a more cohesive and modern aesthetic. Scott proposes a plan that will meet these objectives while staying within their budget of $60,000.

The first step is to finish the basement, which will provide a dedicated living space for renters. This will include a bedroom, bathroom, kitchen, and living area. Scott's team starts by excavating the basement to increase the ceiling height, which will make the space feel more open and inviting. They also install new insulation, plumbing, and electrical systems to ensure that the space is functional and up-to-code.

Next, it's time to tackle the main floor of the house. Scott and his team work with a designer to create a modern and stylish look that will appeal to potential renters. This includes adding new flooring, paint, and lighting throughout the main living spaces. They also update the kitchen with new cabinets, countertops, and appliances to give it a fresh and contemporary feel.

One of the challenges in this renovation is working with the existing layout of the house. Alison and Deirdre have a large living room that is separated from the rest of the main floor by a brick fireplace. Scott's team comes up with a creative solution by building a new wall that incorporates a recessed TV and fireplace, which creates a more open and connected living space.

The final stage of the renovation is adding some finishing touches to the basement and creating outdoor living spaces. Scott's team installs new flooring, paint, and lighting in the basement to create a welcoming living space. They also create an outdoor patio area for the renters to enjoy, complete with a fire pit and seating.

Throughout the episode, Scott works closely with Alison and Deirdre to ensure that their vision for the income property is realized. They discuss the best ways to maximize the rental income, such as including a separate entrance for the basement living area. Scott also provides expert advice on how to market the property to potential renters and what features they should highlight.

Overall, Alison and Deirdre are thrilled with the results of the renovation. They now have a modern and stylish home that generates additional income through renting out the basement. Scott's expert guidance and creativity has helped them achieve their goals while staying within their budget.