I get lots of people asking me general questions about their property investments during the process of advising them about their renovation. (Read More)
Hotspace Blog
Claiming more $$ in deductions when renovating an older property
Jane Eyles-Bennett - Monday, March 01, 2010
I put an article here on the website recently and had a number of people say they had never heard of the concept of 'scrapping' or writing off items before you renovate - so I thought this blog was a good place to draw attention to it! (Read More)
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Frequently Asked Questions
How can I be sure that I am getting the best advice when all you see are the photos I send you? I'm sceptical about how accurate my Renovation Design Report will be if you don't visit my property in person.
This is the most common question we get - so you're not alone! However, when our clients find out how thorough we are during our consultation process (when assessing the photos you send us and when discussing your renovation with you over the telephone) and how many times we have carried out Renovation Design Reports this way, their apprehension disappears.Lets look at the actual process. We have a set system that allows us to gather all of the information we require about your property from you. This includes detailed instructions about the photos we need you to send us (you just need to upload the photos via a link that we'll send you - easy peasy!). Next, you'll answer a short questionnaire about your property and renovation. Thirdly, we'll have a telephone meeting to discuss your photos, questionnaire and anything else to crystalise all that we need to know about your property as it is right now. From there, we'll prepare your Renovation Design Report and keep in touch if there's any other information we need.
Request your Renovation Design Report here.
My property is not near Hotspace offices - but I still want an on-site consultation. What do you suggest?
If you want someone to come to your house, then consider whether you are looking at your renovation from an emotional perspective or not. If you are planning an emotional home renovation to live in and enjoy for years to come, then Hotspace is probably not for you. Our skill is working with people whose primary intention is to modernise their property to add value - without spending too much money. An emotional renovation (for a home you're planning on spending a lot of money on and will live in for years) is best done by a designer who will visit you personally and spend weeks or months helping you create a home that is purely an aesthetic improvement (as opposed to an aestheic improvement AND a financial improvement which is what you get with Hotspace).Another thing to remember is that most designers LOVE to spend your money! So if you do use one, then just be aware that you will probably need a pretty hefty budget.
If you are renovating an investment property or any property primarily for financial gain, then remember that your decisions need to be black and white - ask yourself 'will this change add more value to my property than the amount I am spending on it?' For help on keeping unemotional about your renovation, we think a Hotspace Renovation Design Report is just the ticket.
I'm only renovating one room. Can you still help?
Absolutely! We'll help you renovate your kitchen or bathroom (or any other area you'd like help with) by preparing a mini Renovation Design Report covering just that one room. Our 'One Room only' Renovation Design Reports are carried out by photographs which you can upload directly to our website via a secure link we will send you - easy peasy! (sorry, no on-site consultations)Request your Renovation Design Report here.
Will Hotspace come to my house to give me advice about my renovation?
Currently, we carry out on-site consultations only in the Brisbane and Sunshine Coast areas of Queensland, Australia. So, if you are in these areas, then we will be happy to visit you personally. Otherwise, our Renovation Design Report can be completed for you via photographs and telephone/email correspondence.Request your Renovation Design Report here.
How much does a Renovation Design Report cost?
We offer 4 different Renovation Design Reports:- 'House' Renovation Design Report (advice covers the entire interior and exterior of a property including general landscaping advice) - $995
- 'Unit' Renovation Design Report (advice covers interior only) - $795
- 'Exterior' Renovation Design Report (advice covers the exterior of a property including general landscaping advice) - $495
- 'One Room Only' Renovation Design Report (advice covers one room within the interior of a property - usually a bathroom or kitchen) - $295
Request your Renovation Design Report here.
I have a property I'm thinking of renovating. How do I know it's a good one to make a profit on?
A low cost, profitable property renovation is most effectively carried out on older style properties (preferably 15 - 35 years old) that are old fashioned in style (1960's, 70's, 80's and early 90's) but with ‘good bones'. Keep away from those properties that need a lot of repair work and if you're after a low cost, low risk renovation then chose a property with minimal or no structural work required.I can pay a regular colour consultant to help me with my renovation – why should I use Hotspace?
Colour has a very important role in the effective design of a property. However, renovating on a reduced budget requires skill and experience and there is a lot more to a good result than selecting the right colours and finishes. We use the 'design principles' (a universally recognised set of design rules) together with hundreds of tips and tricks we've learnt over the years to give you the best advice we can for your property. Importantly too, our fee is fixed ($795 for a Unit, $995 for a House and $495 for Exterior only) so you can calculate your costs up front. Check out our Sneek Peek page for examples of how we have helped other renovators profit significantly from their renovations.Request your Renovation Design Report here.
I want to quickly refresh a property to sell. Can you help?
A Hotspace Renovation Design Report is just the answer for effectively 'tricking up' your property prior to selling. We have lots of tricks up our sleeves for preparing a property for sale so that it looks the best it can for the least amount of money. See the examples on our Sneek Peek page.Request your Renovation Design Report here.
My builder says he will give me advice about my renovation. Why is using Hotspace any better?
Your builder has no doubt spent his career building beautiful spaces for home owners, not property investors or people renovating to profit (who want to spend a little amount of money but add a lot of value). Because the ideas he gives you will be based on his experience with owner/occupiers carrying out 'emotional' renovations, your renovation is very likely to cost you much more than it needs to. Also, the more you spend on your renovation with a builder, the more money he makes. So, do you think he is going to push you to spend more money or less money? We think a Renovation Design Report is an excellent tool to give to your builder to follow - to let him know exactly what you want him to do.Request your Renovation Design Report here.
Our property manager tells us not to bother renovating as they don't anticipate a rental increase as a result.
Your property manager is most likely looking at your property from their perspective, not yours. If your rental income increases even $50 - $100 per week as a result of your renovation, then they will only earn approximately another $4 - $8 per week in fees. They forget (or don't care) that your property is likely to increase in value significantly – giving you the opportunity to purchase another property and build on your portfolio.Using a designer is a luxury isn't it? This is a budget renovation, so why should I use Hotspace?
The advice Hotspace offers is an investment into your property. Wise investors and property owners immediately see the value in the advice Hotspace offers and don't bat an eyelid when they learn of the probable return on their renovation spend. You could attempt to select the colours and finishes and make other design decisions yourself, but doesn't it make more sense to know that all the money you spend on your renovation is on doing all the right things to add the most value to your property? We are specialists at adding value to your property without spending a fortune. And remember our 100% money back guarantee.Request your Renovation Design Report here.
What's the difference between renovating a rental property and my own home or one I'm planning to sell?
Good question! There is a huge difference that has a real impact on the decisions you'll make throughout your renovating process. A rental property needs to be super durable and particularly low maintenance. A property you are selling, on the other hand, need not necessarily have this long term durability. Or, if you're renovating your own home, then you're likely to want a more emotional approach (and therefore advice) to your renovation. A Hotspace Renovation Design Report eliminates the guess-work no matter what type of property you're renovating. We are experienced with all types of property and know just the right advice to give for your situation.Request your Renovation Design Report here.
Why should I renovate before putting my property on the market? My real estate agent says not to bother and to let the buyer do their own renovation.
Any Real estate agent wants your listing straight away – not in the future some time, so of course they are going to give you that advice. If you want your property sold faster and at a higher price, then invest some time and money up front on a minor renovation that will take you as little as a few weeks (as long as you plan it well!). You have one chance to impress potential purchasers. Other properties for sale at the same time are your competition – be at the front in the race to sell your property – but don't just sell it faster, with Hotspace's help you'll sell it for more.Request your Renovation Design Report here.







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