Many homeowners start renovation projects with big ideas and ambitious goals, only to find that reality quickly catches up to their budget. Just ask Kevin McCloud or any contestant on The Block, ever.
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Add to that list Prime Minister Tony Abbott.
Refurbishment of his official Canberra residence is costing taxpayers $8.8 million - at least $5 million more than originally expected.
Work on The Lodge is expected to be finished sometime next month and will come in at $8.842 million, dwarfing the original $3.19 million price tag. Planned to include asbestos removal, a new slate roof, heating and cooling system upgrades, electrical wiring and painting, the deadline has been extended as a host of new works were added to the to-do list.
Originally known as the Prime Minister's Cottage, the heritage-listed home cost £28,000 to build. Now it's one of Canberra's best known buildings.
Designed by Melbourne architects Oakley and Parkes, prime minister Stanley Melbourne Bruce and his wife Ethel Bruce first moved into the colonial revival-style home in May 1927, after two years of construction. It has been restored and renovated throughout the decades.
Here's a look at five things the $8.8 million price tag can get a keen-eyed spender outside the federal government bubble:
1. One of the most expensive homes on the Canberra market this week
In the heart of Red Hill, 139 Mugga Way has been described as one of Canberra's finest homes. With four bedrooms, three bathrooms and panoramic views across the capital's inner south, this modern architecturally designed home would be perfect for a prime minister or a movie star.
It has gold plated taps and tiles, a 6.5 metre high grand entrance foyer and a spectacular pool and entertainment area. With an asking price of $3.95 million, the federal government could buy it twice for the cost of the refurbished Lodge.
2. A rundown redbrick waterfront home in Sydney's south worth $6.05 million
It might look modest from the outside but don't tell that to the 250 people who watched 73 Vista Street in Sans Souci sell at auction.
The property is a 2121sqm waterfront estate with views across Kogarah Bay and the Georges River. Described as a "once-in-a-lifetime opportunity for future redevelopment", the home is close to the best schools, shops and beaches Sydney has to offer.
3. An $8 million penthouse designed by artist Megan Hess in Melbourne's docklands
Internationally recognised Australian fashion illustrator Megan Hess has designed the East Penthouse in the Melbourne's waterfront Docklands precinct.
Complete with views of the city and Port Phillip Bay, the four bedroom apartment has 24 carat gold bathroom accessories, including a gilded toilet brush, as well as couches, coffee tables by Fendi, Roberto Cavalli and Versace.
4. Singer Colbie Caillat's Los Angeles mansion
On 1.14 acres of land, Colbie Caillat's six-bedroom, eight-bathroom Hidden Hills mansion is a steal for the princely sum of $8.18 million.
The open floorplan of Santa Barbara-inspired home has a gourmet kitchen, pool, fireplaces, french doors, a private bell tower courtyard, media room with HD/3D projection and a 120-inch viewing screen and a games room.
5. Disgraced New South Wales Labor powerbroker Eddie Obeid's tax bill
Fairfax investigative reporter Kate McClymont told us in April that six members of the Obeid clan have been hit with a combined tax bill of almost $8 million, according to documents filed in the NSW Supreme Court.
The Australian Tax Office says family matriarch Judy Obeid owes $1.86 million for the financial years 2010-11, 2011-12 and 2012-13. Mrs Obeid's bill includes more than $500,000 in penalties and interest payments.
