Hotspace Blog

Renovating soon? 5 Questions to ask before taking the leap

Jane Eyles-Bennett - Monday, July 25, 2016
When 'reality' renovating is on TV every night, it’s very easy to get caught up in the moment and think it is a good idea for you to do too. These TV shows make it look so simple, but never really go into the details of the planning that is critical for a successful outcome.

Thinking carefully about your intended outcome is so important - and planning so that your intention is realised - is not done often enough. I see it all the time. 'Wing-and-a-prayer' renovations are rife, so it's no wonder the real statistics for successful renovations are so dire.

 

A successful renovation means more than just making a house look good. It's as much about meeting the practical needs of those who will live there as it is about what it looks like. Almost equally important is what it costs to make the renovation a reality; because unfortunately not many people have an unlimited budget. This is why the following questions are so important to consider right from early stages of planning.

Q1 - Why do you want to reno? Are you going to live in the house for the long term? Are you planning to sell? Are you trying to add value so you can release some equity for some reason? Your answer will dictate the type and extent of renovation you should do.

Q2 - What rooms and spaces will you update? Are you going to renovate the kitchen, laundry, bathroom, the lounge? The worst rooms in the house aren't always where you should be spending most of your budget. Just because the laundry is amongst the worst you’ve ever seen, doesn’t mean you should give it a head-to-toe renovation. And just because the kitchen is the best room in the house, doesn’t mean it shouldn't have some loving too. Knowing your answer to Q1 will help you prioritise the areas you choose to renovate.

Q3 - What sorts of things do you want to do to your property? Think about who will live there and what your intended outcome for the renovation is (to sell, live in, increase equity). Make a list of the intended end users' needs and wants, in order of priority. Know what you are doing and why you are doing it; that means being able to justify every choice you make about your renovation - and also knowing what every wall, floor finish, splash-back, window furnishing, shower, toilet, bench-top (just to name a few!) looks like and costs to buy and install – before any renovation work begins.

Q4 - What look are you going for? This is most important when renovating your own home. www.houzz.com.au is a fantastic and free resource and I often send clients there to create an Ideabook of their preferred Interior Design style prior to us working together. The trick is to get a fresh, modern look while taking into consideration the existing style of their house. Your selections of door handles, splash-backs, light fittings, window furnishings and kitchen cabinetry (for example) can make your renovation work - or not. I refer to it as giving the existing style of the house a 'nod'. We're creating something modern, but there is a subtle reference to the existing style of the home that just makes it work. People who are design trained or who have a good eye for design, intuitively know how to do this.

 

Q5 - How big or small is your budget? Knowing how much you can afford to spend on your reno without over-capitalising is really important. Once you know what that amount is, of course it's best to stick to that figure. That means you need to articulate clearly everything you are going to do – and then work out accurately how much those things are going to cost to implement. You can only have a rock solid budget (always with a contingency for the unexpected) when you have rock solid plan of what you’re going to do. There will always be swings and round-abouts, but the more you know, the more you can plan NOT to blow your budget.

 

I always articulate every aspect of my renovations before I start a thing and I encourage my clients to do the same. At Hotspace, we help people put together a detailed plan (which we call a Renovation Action Plan) of exactly how to renovate their property taking into account practical and aesthetic preferences as well as budgetary considerations. 

For inspiration and dozens of before and after photos, check out our Gallery page.

                                                                                                            

Renovating your Home or Investment Property?

Home renovations are on the up and up - thanks to all the TV shows and other media outlets such as magazines and the internet.  But is it all that it's cracked up to be? TV makes it look so easy (renovate a kitchen in 2 days, transform your garden in 24 hours - we wish it was that simple!).

If your home or investment property is on the wrong side of 15-20 (years old) then you have a great opportunity to update and modernise it. But without experience on your side, things can (and often do) go really wrong - going over budget, not ending up with the style or look you'd imagined, problems with trades-people, time-frames blowing out - and the list goes on.


Hotspace can help

Hotspace offers one-on-one Exterior and Interior design advice to home owners and property investors.

Property Investors; Our sole aim when working with property investors is to show you how to add as much value as possible - while spending considerably less than it appears when the renovation is completed (ie: spend $1 to add $3-$4 of perceived value). As Interior Designers, we love colour. But colours are only a tiny portion of the information you need to successfully renovate for profit.

Home owners; If your home is old and tired and in need of some renovation love, then we'll show you how to create beautiful and comfortable spaces. We've worked with over 500 property owners on all sorts of properties, so we've (almost) seen it all! We'll help you re-design your biggest asset - often for less $$ than you might think. And as award winning interior designers, you couldn't be in better hands.

The key to renovating your home or investment property without breaking the bank

Whether a full overhaul or a quick facelift, Hotspace will guide you towards your ideal renovation, including;

A second opinion on your plans and ideas - You'll no doubt have some of your own ideas, so we'll steer you in the right direction; confirming your best ideas, introducing new ideas and eliminating the rest.

New ideas and recommendations - We'll introduce you to new renovation ideas to really maximize the result you're able to achieve - ensuring you tastefully revamp your home in ways far beyond what you would have considered yourself. Exterior and Interior Design is our forte!

Spend less on your renovation - If you're afraid of your renovation spiraling out of control, sticking to a reasonable budget just became a reality (yes it is possible!). We'll give you specific guidance on how much or little of your property to renovate given your budgetary expectations. Some of our packages even include budget breakdowns for your entire reno.

Increase the equity in your home or investment property - You can add value and increase the equity in your home or investment property by spending less on your renovation than the value it adds. We'll show you how.

Money back guarantee - Investors; double your renovation investment or we'll refund our fee in full - No questions asked. Note: Our clients typically triple their renovation 'spend' investment so this guarantee is a no-brainer for us!

One-on-one support - Many of our packages include telephone, sms and email support which can be used any time during your renovation.

Which Hotspace Consultation Package is right for you?

We offer 6 different packages depending on your requirements. Click here to see the package options or Phone 1300 908 8901300 908 890.
4 things you MUST KNOW before spending a cent on your renovation.

Free eBook PLUS 7 bonus eLessons.





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Hotspace Blog

Renovating with Kids

Jane Eyles-Bennett - Friday, November 24, 2017

In my business, I help home owners work out the look, feel and overall design of their renovation rather than the physical implementation. Lucky me - for the most part, my clients manage their own renovations; including navigating the ins and outs of renovating with their children in the picture. If this is you too, I’ve come up with a list of things that should make the process easier. (Read More)

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