Cracked the method?
Instead of buying an apartment, this couple did something else with the money
A couple in chapter B, both from the field of design, with 6 children (each brought 3 from home) decided not to purchase an apartment for themselves with the joint capital, and instead took an unusual step.
"A proper investment is not in four residential walls"
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Home and design
25/07/2022
Monday, July 25, 2022, 07:25 Updated: 07:26
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Prefer long-term rental over buying an apartment.
Penthouse in the Magorit project in Tel Givivor Holon (Photo: Itamar Shaul)
The project:
design of a rented apartment in Holon
Area:
150 square meters built + 50 square meters balcony
Tenants:
couple + 6
Budget:
125 thousand NIS
In the current real estate market there are quite a few people who live in rent simply because it is their default and the option to purchase A home of their own is getting further and further away from them, as housing prices continue to rise and salaries continue to erode.
But there are those who choose to do this and even prefer the rental option over buying an apartment.
Ella Shlomov (38) and her partner Shevi Mizrahi (58) are a couple in Chapter B who have been living together for 5 years and each of them has 3 children from previous marriages.
Both come from the field of design, two families that united into one, and they live today in a penthouse in the Tel Givorim neighborhood in Holon in a long-term rental project (Magurit, Reit Fund).
This is an affluent couple, who chose to live in a rental for financial reasons, as well as for design reasons.
Because the lease provided them with certainty and stability for 10 years, they decided to invest NIS 50,000 in replacing the kitchen (Photo: Itamar Shaul)
The two met like many others through the workplace, when both are engaged in the field of design.
"He fell into a trap" says Ella.
The two worked together on a project and started dating.
"We were debating where we should live. Until we made the decision, Shavi moved in with me so that in the middle of the week we would live in Holon due to the proximity to work and the study frameworks of the young children, and on the weekends we would come to Shavi's house in the south."
This is how the couple lived for a long time until they decided to sell Shavi's house in Mitar and the move to the center was complete.
"We realized that we like the nightlife in the center more, the accessibility to everything in the center. I attended several lectures on proper financial management and that's how we decided to invest our funds and leverage them in investments," says Ella.
"A proper investment is not in the four walls of a residential apartment. In the lectures I learned that leveraging the money will be more effective in investment apartments. That way we can afford to buy an apartment or even two in the suburbs, rent them out, and with the money to rent an apartment in Tel Aviv. That's how we'll make money."
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25,000 NIS to replace all the lighting fixtures in the house (Photo: Itamar Shaul)
We intend to live in this apartment for the next ten years, so we allow ourselves to invest." Living room and kitchen (Photo: Itamar Shaul)
The two own a four-room apartment in Holon, a Shavei work studio in Be'er Sheva which they plan to rent out, and also own equity that they are investing.
"After we had already made a decision not to invest all our capital and commit to buying an apartment but to rent, we looked for a place to live for ourselves. We defined in advance that we wanted a large apartment with 6 rooms and a large balcony - because we like to host. It was clear to us that no matter what we found, we would put the personal touch ours and we will invest in an apartment that will be exactly to our taste. But we saw that the market is in a very bad state. The apartments are very neglected, tenants come and go and are not bothered by the situation in which they leave the apartments to those who come after them, what's more, the apartment owners themselves do not want to invest that much. And although it was clear to us that the apartment was also in a bad state Excellent, we will continue and invest, the investment will go down the drain in a short time since there is a high turnover of tenants in the apartments."
The couple found the solution to their variety of considerations in a long-term rental.
"That's how we got to the current apartment. We knew we had certainty in the rent, certainty that we wouldn't be evicted within two years. We intend to live in this apartment for the next ten years, so we allow ourselves to invest in an apartment according to the design that suits our taste."
Slate stone cladding, pink wallpaper and new sink and joinery.
Guest Services (Photo: Itamar Shaul)
A collection of vintage items in the study (Photo: Itamar Shaul)
Parent services in the master unit (Photo: Itamar Shaul)
"We wanted to feel at home," says Shlomov about the design choices they implemented in their rented penthouse, while thinking about the right places to invest the budget considering the fact that it is, after all, a rented apartment.
"Textiles embrace the choices and provide a background for the creation inside," she explains.
"Therefore, it was important to us that first of all there be textiles, which one? On the one hand, we wanted it to be beautiful and on the other hand, true for a long time. We chose classics with personal touches."
Shlomov and Mizrachi used a considerable portion of their budget in purchasing textile items such as wallpaper, curtains, outdoor upholstery, upholstered beds, and all this in order to connect and warm the feeling at home.
"There are six rooms and we wanted everyone to feel intimacy in their own space in their personal area. On the other hand, in the public space we wanted everything to correspond with everything," they say.
Upholstered beds, classic wallpapers and curtains were chosen for the children's rooms - each room received what suits it, according to the character and preferences of the person who lives there.
In the couple's bedroom (master), an upholstered bed, wallpaper and curtain were chosen in matching shades, which create a rich custom look.
The textile budget - the homeowner's specialty - was NIS 40,000 for the entire house (Photo: Itamar Shaul)
Each of the children's rooms was treated with customized textile items (Photo: Itamar Shaul)
Upholstered bed, wallpaper and curtain in matching colors.
Master bedroom (Photo: Itamar Shaul)
Even the guest toilets were given a playful theatrical aspect, with wallpaper in shades of pink, a light fixture in matching shades and the sink was also replaced.
Of course, the carpentry and accessories were adapted and integrated into the space.
When the slate stone element that covers the room embraces everything together and unifies the look.
The living room and the kitchen were also treated, and the couple decided to invest in replacing the kitchen that was in the apartment, despite the fact that it is a rented apartment.
A rectangular dining table was placed in the center of the kitchen surrounded by wide padded chairs.
In these spaces as well, they focused on less expensive upgrades, but ones that stand out in the space and influence it.
A wooden shutter was chosen for the kitchen in order to warm the feeling in the space, while in the living room, loose curtains were ordered and installed in the colors of the design that dominate the house with a twist in the form of subtle stripes in a dark shade.
In the furniture section - next to a set of dark leather sofas there are a pair of armchairs upholstered in a striking striped pattern and another leather armchair in a vintage look that is underlaid with a beige rug that unifies the space.
Here they allowed themselves to go crazy.
The balcony (photo: Itamar Shaul)
As mentioned, the couple likes to entertain and it was important to them that the apartment also include a pleasant outdoor space suitable for entertaining.
Shlomov testifies that the outdoor area is where they allowed themselves to "run wild" with the choices of the colors of the upholstery and pillows, which combine shades of red, orange and gray in interesting geometric patterns on a light background.
The spacious balcony of the penthouse includes an outdoor dining area with a table with a top plate in a light marble look and around it there is room for eight to ten diners.
Next to it there is also a pleasant sitting area that includes a sofa, armchairs and a low table.
The total investment of the Shlomov and Mizrahi couple in the apartment amounted to approximately NIS 125,000, which was divided as follows:
NIS 50,000 (the largest share) was allocated to replacing the kitchen, all the lighting fixtures in the apartment were replaced at a cost of NIS 25,000, textiles - their area of expertise in design, NIS 40,000, and finally , an amount of NIS 10,000 was invested in replacing various coverings in the house (guest toilets, kitchen, etc.).
Home and design
exterior design
Tags
Rented apartment
Rented apartments
rent
Long term rental
exterior design
Home Styling
