CAPITAL GAINS
When Ryan and Hannah Frost first clapped eyes on the 1925 Island Bay bungalow they now call home, it wasn’t exactly love at first sight.
“It was unbearably ugly,” remembers Ryan. “And it smelled really bad.”
The previous owner had lived there for 40 years and struggled to maintain it. There was old brown carpet, a tiny yellow bathroom, and the yellow and blue kitchen had a disintegrating concrete benchtop. The home’s old-fashioned layout meant the formally segregated living spaces got little of the sunlight and warmth that otherwise streamed into two of the bedrooms and the neon green laundry. With no insulation, the
