Q: Wifi - lost packets every 5 seconds

I have MBP - running Mavericks and it fails to stay connected to my home network for more than 5 seconds. i have no issue connecting to other networks and my wife's MBP and our iphones are all connected to the same network without any issue. The connectivity is just lost after 5 seconds, tried restarting the modem/router and the MBP with no use. Cleaned up the connection from the keychain/network and re-configured the network with no use. Sometimes, the network wouldn't even get configured with a connection time out error. I understand from other MBP owners threads that this issue has been existing since a couple of years, but I can't waste any more time troubleshooting and hoping someone has a solution to this.

Thanks in advance,

Bharath