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Watch Australian Renovations online: Episode 5 Episode 05

Andrew Cannone has stretched his families’ finances to the limit in a bold property renovation and sales strategy that he hopes will provide him big returns. The Cannones have invested in an amazing block of land with incredible ocean views and potential. There is an old beach shack style property on the block and the land has already been subdivided for further development. In the short-term they will renovate the old shack and make it comfortable for their family. Then they will build a brand new home on the second block and rent out the old shack. Eventually they wish to knock the old shack down build the house of their dreams over looking the ocean. The long-term plan is complicated but if it pays off they stand to make a great deal of money. But before they can do anything the Cannones must first sell the home they own now and go through a nail-biting auction to secure the funds they need to keep this big project alive. John McGrath is excited about the long-term prospects of this kind of development and he also loves the idea of keeping the style and feel of the old shack. But Luke Van Dyck has a different view. He advises Andrew to knock down the shack and start again, stating that it would be better to build a simple house from scratch rather than try and bring the current home up to scratch. Under a huge amount of financial pressure already the Cannone’s can’t afford to make a mistake with their budget of $50,000. With plans for a new kitchen, new deck and decoration inside and out, it’s a balancing act to make the house comfortable and keep the bills paid.

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