‘What’s Going On in That Room?’ A Dublin Townhouse Gets a Mystical, Leap-of-Faith Reimagining
Though open-minded, the new owner of the magisterial 18th-century house needed to be convinced of some of her interior designer’s boundary-pushing ideas.
3 min
Sometimes sad things happen to good houses. Take the proud former home of the family that founded Jameson Irish Whiskey, perched on a historic square in the Irish capital. More recently a law office, the circa 18th-century townhouse had been mired in drudgery.
“Businesses take on these prestigious old buildings and chuck in a lot of furniture,” said designer Suzie McAdam of the throng of mahogany desks, wall-to-wall carpet and fluorescent lights she found in the property. “Everything was grim and a bit tired.”
The new owner, an Irish businesswoman who would live there solo, hired Mc Adam, a local pro, to restore and decorate the four-story Georgian home. Put off by the dark, masculine energy of the panelling in the entrance and reception room, the client at first wanted to paint all of it white. “I think her sense was to make it feel fresher, more lightened,” said Mc Adam.
To convince the owner to rehab the wood instead, the designer proposed a brash, whimsical plan.
Where the client saw oppressive beams and coffers, Mc Adam saw…a forest. She would enlist Irish muralist Michael Dillon to hand paint the white plaster gaps between the woodwork with local flora and fauna, like mythical creatures from Irish folklore growing out from between the timbers.
“It almost has a sense of decay, something that had been creeping through an old wall,” said McAdam of the final mural. “It’s very fantastical,” she said.
The designer won the client’s buy-in, and the mahogany was refurbished. The woodwork-as-woods concept intrigued the owner, Mc Adam believes, in part because she spends her days in the black-and-grey world of business and finance. She also craved uniqueness.
“Having seen a lot of other buildings in Dublin, none of which energized or excited her, I think she wanted to be taken on a journey with the design,” said McAdam.
That might explain why the owner welcomed the curious light fixture—the Halti pendant by Cameron Design House —that loops from the reception room’s ceiling like pearls sized for the Statue of Liberty. During Paris Design Week, McAdam was captivated by a lavender version she saw draped inside an installation of ornate boiserie panelling.
She says she has a tendency to embrace this kind of forward-leaning design: “A guiding principle I return to is this: Would I see this piece at an auction in 20 years? If the answer is yes, then I know I am on to something.”
She texted a photo to her client, who asked if it came in other colours. “The lavender was quite strong, maybe a little too far for her,” said Mc Adam. They eventually landed on an opaque white version, a nervy update of the drippy crystal chandeliers common to homes of this vintage.
The room’s expansive windows make the necklace-like fixture visible from the street below. “Even taxi drivers are, like, ‘What’s going on in that room?’ ” said Mc Adam. One, while driving her past the property, remarked, “Sure you wouldn’t know what they’ll hang off a ceiling these days!”
She didn’t let on, and says today, “If something causes debate and conflict, I think that’s where it gets interesting.”
The chandelier in the library upstairs initially raised even her client’s eyebrows. McAdam recalls that, as an electrician was installing the Italian glass chandelier from Giopato & Coombes, the client commented that it “looked like bowling pins that had been smashed over.”
McAdam dug in her heels. “Hold firm is my approach sometimes. When people see something in isolation, it’s hard to get a full sense of how the room is going to turn out.” Today, the space is adorned with pastoral Schumacher wallpaper, its barrel-vaulted ceiling painted a sky blue. “She wasn’t enamoured initially with that fixture, but the room came together.”
McAdam’s aesthetic bravery respects and suits the historic home. Centuries ago, the Jameson family had their motto carved into the reception-room mantel alongside the three-masted sailing ship that serves as a logo on each whiskey label. It reads Sine Metu , Latin for “Without Fear.”
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Australia’s housing market defies forecasts as prices surge past pandemic-era benchmarks.
First-home incentives can still form part of a long-term investment plan if used strategically.
3 min
Australia’s home prices continue to grow, and while that makes them great investments, they are also some of the most unaffordable in the world.
That’s why first-home buyer schemes such as the First Home Owner Grant, the First Home Guarantee, and stamp duty concessions have become so valuable.
These programs are designed to reduce upfront costs and fast-track people into homeownership.
But the question many aspiring investors are now asking is can these schemes be used as part of an investment strategy? These government initiatives aren’t designed for investors, but they can still play a key role in your long-term investment journey if used strategically.
What the schemes actually allow
Every first-home buyer incentive in Australia is created to support owner-occupiers, not investors.
Whether it’s a cash grant, reduced deposit requirement, or a stamp duty discount, the catch is always the same in that you must live in the property for a set period of time. For example, the First Home Owner Grant often requires you to live in the property for at least six to twelve months, depending on the state.
The First Home Guarantee allows you to purchase with just a 5 per cent deposit without paying lenders’ mortgage insurance, but again, you’re required to live in the property for at least one year.
Likewise, state-based stamp duty concessions are only available for properties intended as a principal place of residence. If your intention from the outset is to buy a property solely for rental income, you won’t be eligible. However, if you’re open to living in the property initially, then transitioning it into an investment, there’s a path forward.
A strategy that works
Rentvesting has emerged as one of the most practical ways for first-time buyers to take advantage of these schemes while also laying the groundwork for a property portfolio.
The concept is simply, buying a property in an area you can afford (using the first-home buyer schemes to assist), live in it for the minimum required period, and then rent it out after fulfilling the occupancy condition.
This approach lets you legally access the benefits of first-home buyer schemes while building equity and entering the market sooner. Instead of waiting years to save a full 20 per cent deposit for an investment property, or getting priced out altogether, you get your foot in the door with reduced upfront costs.
Once you’ve satisfied the live-in requirement, the property can become an income-generating asset and even serve as collateral for your next purchase.
What to look for in a rentvestment property
If you plan to eventually convert the property into an investment, you need to think beyond your short-term living experience. It’s essential to buy a property that performs well both as a home and as a long-term asset.
That means looking at key fundamentals like location, rental demand, and growth potential. Suburbs with strong infrastructure, access to employment hubs, good transport links, and low vacancy rates should be high on your list.
A balanced price-to-rent ratio will help ensure manageable holding costs once the property transitions to an investment.
Established low-density areas often outperform high-rise apartment developments that flood the market with supply and limit capital growth. And ideally, your property should offer scope for future improvements, whether that’s a cosmetic renovation, granny flat addition, or potential to subdivide down the track.
Mistakes to avoid
There are a few common missteps that can undermine this strategy. The first is selling too soon. Some grants and stamp duty concessions include clawback provisions if you offload the property within a short period, which could see you lose the benefits or even owe money back.
It’s also a mistake to let the lure of a government handout sway your purchasing decision. A $10,000 grant doesn’t justify compromising on location, growth prospects, or property fundamentals.
Another pitfall is failing to consider the financial impact once the property becomes an investment. Repayments, tax treatment, and outgoings may change, so it’s important to stress-test your position from day one.
Lastly, beware of buying into oversupplied areas simply because they’re marketed to first-home buyers. Not all new builds are good investments. If hundreds of identical properties are being built nearby, your long-term growth could be seriously limited.
With the right approach, your first home can be the foundation for an entire property portfolio. It starts with using available government support to lower your entry cost.
From there, you occupy the property for the required time, convert it to an investment, and leverage the equity and rental income to fund your next purchase.
Many of the most successful investors today began with a single, strategically chosen property purchased using these exact schemes. By buying well, you can turn your first home into the launchpad for long-term wealth.
Abdullah Nouh is the Founder of Mecca Property Group (MPG), a buyers’ advisory firm specialising in investment opportunities in residential and commercial real estate. In recent years, his team has acquired over $300 million worth of assets for 250+ clients across Australia.
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