2014 – Purchased at $545,000
1950’s 3 bedroom home with bay and ocean views and a dingy downstairs basement.
Total renovation costs $300,000
Current value $1,200,000
Upstairs: New driveway and landscaping, extend the garage, improve street access to the home, structural renovation, open kitchen, dining and living areas, new master and ensuite, new deck. Potential rent $550
Downstairs: Also convert an unliveable downstairs area into a 1 bedroom studio apartment, which could be rented for $300 per week.
Or Holiday rent (combined) $1,000 t $2,000 per week.
Type property, real estate
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