Mom and pop renovators admit financial tightness despite multi-million dollar home swap – realestate.com.au

Builders couple Ben and Maddison Daly almost doubled their money on their first home transaction, allowing them to scale up to luxury projects over the past seven years.

But rising interest rates and rising construction costs make it difficult to make a profit on renovations – even if the finished product sells for millions of dollars.

The latest project from the Gold Coast mother-and-father team is a single-level stunner at 23 Bellbird Ave, Burleigh Waters, which will be auctioned at Kollosche on February 14.

The house was completed within a tight schedule of 15 weeks. Photo: Glenn Hampson

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Ben Daly said the four-bedroom house was completed within a tight timeline of 15 weeks ahead of the birth of their second child, baby Daisy, 4 months, a sister for 3-year-old Koa.

They had lived in the house for a year, where Mr Daly built for clients and his wife founded the Mon Cherie wedding company. They decided it was time to ‘pull the trigger’ on the renovation when they found out they were expecting again.

“We moved to the in-laws to cut costs because we didn’t want to spend another $30,000 on rent,” said Daly, 32.

“I had free time with the arrival of bubs, so when our clients’ jobs came to an end we programmed the next one and then got back to work, so for those 15 weeks we went with all hands on deck working 12 hours a day, 7 days a week,” he said.

The house in the popular Gold Coast suburb of Burleigh Waters

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They restored the original 1970s home to its original state, creating a contemporary, light-filled home with high-end finishes and a seamless connection between indoor and outdoor living spaces.

High ceilings combined with Mediterranean-inspired arches, microcement and natural travertine finishes and designer lighting, the open floor plan is anchored by a luxury kitchen with stone countertops, and a covered outdoor entertainment area with built-in kitchen flows into a large swimming pool flanked by a cabana.

“Our vision has always been about creating homes that feel timeless, warm and truly liveable – not just impressive to look at,” says Maddison Daly, 29.

“We’re not about it being flashy, we want homes that feel luxurious, yet comfortable, practical and inviting for real families.”

Bright living spaces

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There are four bedrooms and two bathrooms

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Mr Daly said standout features included multiple living areas, with “one for the adults, one for the kids” and a grassy front garden with seating, perfect for watching children play.

Their journey started with a mansion in Burleigh Waters, purchased for $508,000 in 2017 and sold for just under $1 million in 2021.

Next up was a four-bedroom family home in Mermaid Waters, which sold for $2.55 million in 2023 – they paid $1.141 million for the site two years earlier.

Despite their success, the couple is feeling the pressure of the current economic climate.

“Rising interest rates and construction costs impact everyone, regardless of price,” Daly says.

Smeg appliances and a butler’s pantry complete the kitchen

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This pressure forced them to be more strategic and hands-on.

“It’s intense, especially with young children, but it allows us to save money and stay deeply involved in every decision. It has also pushed us to be more disciplined with budgeting and smarter with how and where we spend.”

Mr Daly highlighted the harsh reality of the current market for renovation companies, noting that a demolition property in their target areas now costs around $2.1 million.

There was strong demand for move-in ready homes, but Ms Daly said higher end buyers were now being more cautious and selective.

A cozy cabana by the pool

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Ideal for outdoor entertainment

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