Hotspace Blog

Modernising a brick home - no rendering required

Jane Eyles-Bennett - Thursday, June 22, 2017

Do you have a brick home that’s in need of a bit of a facelift? Perhaps the colour or style of brick is starting to look a bit dated and in need of modernising. Most homeowners assume the only way to update a brick home is by rendering it, but there are other ways. (Read More)

How to choose the colours and finishes for your home

Jane Eyles-Bennett - Tuesday, June 13, 2017

Probably the best part about renovating or building is choosing the colours and finishes. It’s exciting to have the freedom to choose exactly what you want, isn’t it? But it can be a bit overwhelming too. (Read More)

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Design principle proof in the pudding

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Budget blowouts

It's no secret that the number one trick for a successful investment property renovation is to remai.. more

Testimonials

... the perfect prescription for avoiding costly mistakes". Consulting Hotspace was the best step I took during the entire renovation process. Their professional service is one of a kind and their know-how is priceless. Hotspace helped me to ..
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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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