Debbie & Avi reached a point in their life where they were looking for a change. They had been in the rag trade for decades and were dealing with massive changes in an industry that was being flooded with cheap imports. Seeking to take control of their lives and their livelihood, they embarked on a path of renovating. It was a huge leap of faith and they executed with determination and style.
They renovated their family home first, then they were ready for the next step. Their first renovation for profit was the Bondi reno.
Finding The Right Property For The Bondi Reno.
Newbie renovators find that securing that first project can be challenging.
Deb and Avi were smart, they decided to engage one of our superstar buyers agents.
Amanda Gould of High Spec Property ( the pocket rocket) secured their first project, a 2 bedroom apartment in Bondi.
Their intention was to renovate and sell the property to produce their income for the year.
The Family Project
Deb and Avi set about wielding their new skills on this tired old girl. One of the great things about renovating is that it gives you the opportunity to design the life YOU want. In the Bondi reno, Deb and Avi assigned the tasks according to their strengths. Deb has a good eye for detail so she supervised and monitored the design and quality of the reno. Avi has years of management experience and he took the onsite management.
Their son, Aaron, worked on the project as well. This not only kept the money in the family, it meant they got to spend quality time together. It had the added benefit of fostering his entrepreneurial spirit and the desire to get out there and do it for himself.
The Inevitable Challenge
Like all renos, the Bondi reno had its challenges, the biggest being the cabinet maker going through a marriage break up which froze his assets mid-project and put a serious spanner in the works.
Deb and Avi were able to negotiate their way through the difficulties and get their project completed and sold with a spectacular result.
The Scope Of Work For The Bondi Reno:
Removing the wall between the kitchen and living room, installing a beam (which was craned in) and making good.
New:
- Kitchen & appliances with island bench and waterfall.
- Bathroom with freestanding bath and walk-in shower.
- Wardrobes.
- Lighting and electrical fittings throughout.
- Floating floor.
- Window dressings.
- Paintwork.
The Bondi Reno Dream Team
Renovators: Debbie & Avi Levy
Buyers Agent High Spec Properties
Styling Bowerbird Interiors.
Selling Agent Jeremy Weisner
What’s next?
Deb and Avi have purchased and started on their next project; a two bedroom apartment in Bellevue Hill. They feel confident that they have a recipe that works.
Cost Breakdown for the Bondi Reno
| Purchase Price | Buying Costs | Holding Costs | Reno Costs | Sale Price | Profit |
| $1,000,000 | $109,000 | $30,000 | $130,000 | $1,475,000 | $206,000 |
Floor Plan Changes
