Renovators moms and dads admit there are financial struggles despite flipping a multi-million dollar home
Ben and Maddison Daly on their latest Burleigh Waters project which went under the hammer in February. Photo: Glenn Hampson
Builder couple Ben and Maddison Daly almost doubled their money from their first home flip, allowing them to access luxury projects over the past seven years.
But rising interest rates and rising construction costs have made profits from renovations difficult — even when the end product sells for billions of dollars.
The Gold Coast mum and dad team’s latest project is a stunning single level at 23 Bellbird Ave, Burleigh Waters, going to auction with Kollosche on February 14.
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The home was completed with a tight timeline of 15 weeks. Photo: Glenn Hampson
Ben Daly said the four-bedroom home was completed 15 weeks before the birth of their second child, Daisy, 4 months, who is Koa’s three-year-old sister.
They lived in this house for a year, Mr Daly built for his clients and his wife launched a wedding business Mon Cherie, 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 save costs because we didn’t want to spend another $30, $40,000 on rent,” said Mr. Daly, 32.
“I had time off when the bubbles came, so when our clients’ jobs ended we planned the next thing to go back so in those 15 weeks we went to work, working hard 12 hours a day, 7 days a week,” he said.
A home in the Gold Coast suburb of Burleigh Waters
They took an original 1970s house and brought it back to its slab, creating a modern light-filled home with high ceilings and a seamless connection between indoor and outdoor living areas.
The high interior ceilings are complemented by Mediterranean-inspired arches, microcement and natural travertine finishes and designer lighting, the open floorplan is equipped with a luxury kitchen with stone benches, and a covered al fresco entertainment area with a built-in kitchen that flows into a large cabana-lined pool.
“Our vision has always been about creating homes that feel timeless, warm and authentically lived in – not just impressive to look at,” said Maddison Daly, 29.
“We don’t want to stand out because of that, we want homes that feel luxurious but are still comfortable, functional and inviting for real families.”
Living spaces filled with light
There are four bedrooms and two bathrooms
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Mr Daly said outstanding features included its multiple seating areas, “one for the adults, one for the kids,” and a grassy front yard with seating, perfect for watching the kids play.
Their journey began with a townhouse in Burleigh Waters, bought for $508,000 in 2017 and sold for less than $1m in 2021.
Next was a four-bedroom family home in Mermaid Waters that sold for $2.55m in 2023 – they paid $1.141m for the property two years ago.
Despite their success, the couple feels pressured by the current economic climate.
“Rising interest rates and building costs affect everyone, regardless of the price,” said Ms Daly.
Smeg appliances and a butler’s pantry complete the kitchen
This pressure forced them to be strategic and hands-on.
“It’s intense, especially for young children, but it allows us to save money and stay engaged in every decision, and it motivates us to be more rational and smart about how we spend and where.”
Mr Daly underlined the harsh reality of the current market for analysts, noting that the demolition site in the target areas is now worth around $2.1m.
Move-in ready homes were in demand, but Ms Daly said high-end buyers were becoming more cautious and selective.
Cozy lakeside cabana
Perfect for al fresco entertaining
