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)

Five ways to quickly make-over your home

Jane Eyles-Bennett - Monday, October 30, 2017

With all the home improvement shows on television, it’s hard to resist the urge to makeover your own home. But how do you modernise your home without blowing the budget? What areas should you focus on? What tricks do the experts use? (Read More)

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Allworth Street, Northgate, QLD


$90,000 additional equity to use on the next investment - in just 2 months! Who said it's hard to make a profit from cosmetic renovations in this market? Yep, property purchased for $320,000. Renovation cost just under $20,000. Estimated revalution $430,000 (real estate agent estimate only at this stage). Rent increased from $300 up to $400 per week.
 
Jennifer Barclay bought this property in Northgate, Brisbane for the specific purpose of renovating to profit. Being a lower value property with a lower value renovation budget, Jennifer was adamant not to over-capitalise on her renovation. To ensure she renovated the property in the smartest, most cost effective way (that would give her the biggest bang for her buck and add the most value), she called on us here at Hotspace Consultants for our advice.
 
With a clear list of all the areas to renovate and things to do to her property (move the carport to the left, build the patio and screen and paint, landscape the garden, add the path, paint the house trims x colour, update the kitchen using x colours, replace the flooring with new tiles in x colour and size , paint the walls, update the lighting and replace vanity/splashback and screen in the bathroom + plenty of other advice), Jennifer was armed with everything she needed to get accurate pricing on her renovation up front PLUS she had a clear and specific plan for all her trades-people to follow when they were on site.

KEY FACTORS TO JENNIFERS SUCCESS:
** She researched her market and bought well to begin with
** She set a tight budget to make sure she didn't over-capitalise (aimed for 5% but spent just over 6% - still an excellent effort!)
** She took guidance from an expert (Hotspace) so she knew every dollar was being spent effectively

KEY FACTOR TO YOUR SUCCESS? Do what Jennifer did and call Hotspace.
 
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