Frequently Asked Questions
I'm worried that the fee I'd pay Hotspace should be spent on the renovation itself
There is a lot to lose when renovations are at stake. It's not just a few hundred dollars here and there. You'll have tens of thousands of dollars on the line.
We'll help you achieve 20-30% more profit than you could on your own - that alone is worth our fee!
Investing in professional help from Hotspace is essential if you want to avoid any risk of over-capitalising, doing the wrong things to the property, wasting money or not selling/revaluing for what you want.
Why shouldn't I renovate my property without Hotspace's help?Don't even think about renovating your property for a profit or to sell without professional help unless you have done it (successfully) before. Why? Because, less than 50% of people actually make a profit or break-even when renovating for a profit or to sell. Don't let that statistic be you. You can guarantee yourself a profit when you follow a Renovation Action Plan.
How much does a Renovation Action Plan cost?
A Renovation Action Plan is an extremely detailed document which walks you through every single detail of your reno. For less than the cost of carpeting a few rooms, you'll have the peace-of-mind that you're giving your yourself the best chance of success. Prices do vary according to your property, so find out the cost for yours by phoning us on +61 7 3482 2199 or completing the Preliminary Enquiry form here
How can I be sure I won’t go over budget?We give you estimates on all your renovation costs. Whether your DIYing or paying professionals to do the renovation work (or carrying out some of the work yourself and paying professionals to do the rest), your Renovation Action Plan includes indicative costs, so you always know how much to spend on each component of your renovation. This means you'll avoid running over budget and be able to complete your entire renovation without running out of money. Take a look at the bottom of each of the pages on the example Renovation Action Plan here.
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 for a profit and/or on a reduced budget requires skill and experience and there is a lot more to a good result than selecting the right colours. 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 in advance so you can calculate your costs up front. Check out our Gallery for examples of how we have helped other renovators profit significantly from their renovations.
I want to quickly refresh a property to sell. Can you help?A Hotspace Renovation Action Plan is just the answer for updating your property prior to selling. We have lots of tricks up our sleeves for preparing a property for sale so that it looks great but without spending a lot of money. Find out more here...
My builder says he will give me advice about my renovation. Why is using Hotspace any better?
There are hundreds of possibilities or potential renovation ideas for every property. Builders do generally have great ideas, but it's the pulling of the ideas together to create a cohesive, designer looking renovation on a pre-determined budget that they may not be quite so good at. Also, the more you spend on your renovation with a builder, the more money he makes. We think a Renovation Action Plan is an excellent tool to give to your builder to follow - to let him know exactly what you want him to do for you.
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 use your equity to purchase another property for 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 Return on Investment Guarantee.
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 Action Plan 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.
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 mini make-over to revitalise the property. 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. Find out more here...
Do you give structural advice or just cosmetic?
We primarily offer cosmetic renovation advice including paint colours, flooring, kitchens, bathrooms, landscaping etc. However, we do also offer layout guidance. Since we are very experienced interior/exterior designers, but NOT qualified architects or building designers, we are restricted to the advice we offer here. We suggest you first contact a draughtsperson to discuss the structural limitations of the building and then pass that information to us so we can provide layout advice that best suits the property.