All Topics / Value Adding / Renovation consultant

Viewing 18 posts - 1 through 18 (of 18 total)
  • Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Hi folks,

    Just wondering if anyone here has enlisted the use of a renovation consultant before?

    My initial reaction to paying someone around $1k to give me a full report detailing what to do to my IP, where to spend my money, exact products/colours/etc was that I'd be better off spending that grand on the actual renos instead… Have a budget of approx $20k for renos and really want to ensure that the money is very well spent, and prioritised correctly.

    But I'm also thinking, all investor education says to surround yourself with people who know more than you, and learn from them!

    In the past I have pretty much only done painting to spruce up and have not really been involved in any major renos. In this apartment I am looking at doing full bathroom and kitchen reno, floors, painting, light fittings, and not sure if anything leftover for anything else!

    The consultant I have made enquiries with provides a full report with details right down to types of light fittings, paint colours, and the order in which to spend money, ie top priority jobs, do these second, and the last list of 'if any money leftover do these too' list.

    My thoughts were if I pay for the consultant then it removes me personal emotion and my colour/style tastes from the equation, and hopefully will speed up the process if I remove decision making time and hunting around at styles etc. I also think it would hopefully be the one and only time I'd pay for a consultant, as I'd try to learn from the process and apply the same techniques/thoughts to any future renos on other properties.

    Not sure if i can name company names here, but I think I found that consultant either through this forum, or the newsletters, or from a newsletter from another property investing group. Based in Brisbane, though I'm in Perth, and does full report over phone liaison and provision of approx 100 photos.

    Very interested to hear any endorsements or criticisms of renovation consultants.

    Cheers,
    Emma

    Profile photo of dorkyboydorkyboy
    Member
    @dorkyboy
    Join Date: 2003
    Post Count: 16

    Hi Emma,
    I am based in Perth also and although have never used the services of a consultant can see the value in it especially if one is emotionally attatched to the property….I would have thought $1000 seems at the high end as I believe prices would start about the $350 – $500 mark but as the saying goes you get what you pay for – good luck with it :-)

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Thanks dorkyboy, just out of interest – where did your figures of $350-500 come from? Have you seen these prices quoted by a consultant or is it what you would value the service at?

    cascadasmith – did you mean to make a comment there, or just posting your link for advertising?

    Profile photo of Helen BednarHelen Bednar
    Member
    @helen-bednar
    Join Date: 2010
    Post Count: 2

    Hi Emma,
    I am using a consultant (probably the one you are speaking of as the pricing is the same as you mentioned) for my first reno business project in exactly the way you described. I nominated a budget I had to work with and was then provided with an action plan for my project and inturn this cuts down the time required for me to make all the selection decisions, takes out the emotional side of things and has freed me up to do the shopping around for the required items. I also have access to the consultant via phone or email at anytime throughout the project as it progresses. So money well spent.
    Cheers,
    Helen

    Profile photo of Helen BednarHelen Bednar
    Member
    @helen-bednar
    Join Date: 2010
    Post Count: 2

    By the way forgot to mentione that I used Hotspace Consultants.

    Profile photo of JaynSeraJaynSera
    Participant
    @jaynsera
    Join Date: 2010
    Post Count: 1

    Hi Emma,
    I have used one before and highly recommend it. The cost of the service far out ways the benefits. I received a nice tidy report which allowed me to visualize and plan what to do with my property. The best thing was I was also given some idea's that I would have never thought of like converting my oversized pantry to a study nook. When my partner and I received the colour scheme we were unsure of the colour chosen only because we wouldnt have chosen it but once we finished painting we thought it looked amazing and people that saw the place previously are amazed.
    I think you're completely correct that a consultant removes the emotion out of it and helps keep you focus one 1 thing and thats profit.
    The company I used is called Hotspace check them out you wont regret it.

    Profile photo of MelMMelM
    Member
    @melm
    Join Date: 2010
    Post Count: 1

    Hello
    First time poster but I thought I might have something useful I could add to this from recent experience.
    I have done a few renos and never used a consultant. I've always been of the school of thought that I would rather use the money on the actual reno instead of paying someone to choose paint colours.
    I used a consultant for the first time on a project this year (actually the same firm mentioned above) and found out I didn't know what I didn't know! I reckon she saved me about 50% of what I had planned to spend and the valuation has come in above what I was expecting.
    And I learned there is more to using design to add value than just pretty colours!
    So no I would never just try to `figure it out myself' again. I suspect it is like accountants and mortgage brokers, it isn't until you experience what value a good one can add that you see the benefits of the expertise.
    Hope this helps.
    Cheers,
    Melanie MacDonald

    Profile photo of alanak80alanak80
    Participant
    @alanak80
    Join Date: 2010
    Post Count: 11

    hi

    i have used hotspace earlier this year – i couldnt be happier

    i was hesitant to use someone internet based as we are in Melbourne and they are in QLD..but really it didnt make a difference to the end product.

    the report was fantastic and so detailed and so many money saving ideas. Where i wanted to just tear something down – Hotspace recommended small changes/facelifts with great results

    it also saved hours in bunnings with my husband and i fighting and getting headaches over choosing the paint colours.

    for the cost of the report i think it was saved many times over in time, money spent on unnecessary changes and effort trawling the internet for colour schemes, light fittings, vanities, light fittings.

    once i got the report the only thing to do was get the best price for everything.

    good luck
    alana

    Profile photo of dtrumpdtrump
    Participant
    @dtrump
    Join Date: 2010
    Post Count: 50

    Hi,

    Interesting concept about hotspace consultants….has anyone else on the forum used them?

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    especially forum members with more than 1 post ;) Don't mean to sound cynical, but always better to hear from people who have said more on here than just praise for one company…

    thanks to Alana for your feedback, I read with interest your prior posts about your kitchen renovations.

    Profile photo of CatalystCatalyst
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    @catalyst
    Join Date: 2008
    Post Count: 1,404

    Can someone please give a few examples of things that were advised that saved  money?

    Where to buy things? What to buy? or are we talking, "no don't do that do this instead"?
    thanks

    Profile photo of RnPRnP
    Member
    @rnp
    Join Date: 2010
    Post Count: 27

    As we are also in teh game of renovation education and assistance we couldn't agree more that having an expert who has been in the game for years and knows all the ins and outs is very beneficial for a renovation project.  A professional does take all the emotion out, they've made the mistakes so you don' t have to and can teach you how to quickly and eficiently renovate your property.  Good on you for taking that step.

    Profile photo of Ben KBen K
    Participant
    @ben-k
    Join Date: 2010
    Post Count: 103

    i feel funny about reading someones very first post to promote a company, then 4 mins later a first post from someone who registered 4 mins later to promote the same company in the same thread.

    am i weird?

    Has anyone used a reno consultant the first time around and then taken that knowledge and "template" if you will, into the next property they do?

    cheers

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Ben and Mina – I feel exactly the same!!! which is why i was a bit cynical of those posts… so close together and interesetingly within 15 mins of the consultant in discussion having logged on and posted elsewhere on the site. I hate to be cynical but when we’re talking about a grand of my hard earned money I want to make sure its well spent!

    I appreciated Alana’s comments quite a lot, and her post history showed her renovating journey.

    Just wish there were a few more comments out there from some posters who have been around a bit.

    Makes me wonder – are there not many people using that service? I really do see the benefit of it and am quite interested, just wanted some honest testimonials first.

    wonder if we can search IP addresses of members or posts? lol that could give us an answer!

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Ben and Mina – I feel exactly the same!!! which is why i was a bit cynical of those posts… so close together and interesetingly within 15 mins of the consultant in discussion having logged on and posted elsewhere on the site. I hate to be cynical but when we’re talking about a grand of my hard earned money I want to make sure its well spent!

    I appreciated Alana’s comments quite a lot, and her post history showed her renovating journey.

    Just wish there were a few more comments out there from some posters who have been around a bit.

    Makes me wonder – are there not many people using that service? I really do see the benefit of it and am quite interested, just wanted some honest testimonials first.

    wonder if we can search IP addresses of members or posts? lol that could give us an answer!

    Profile photo of illuminatiilluminati
    Member
    @illuminati
    Join Date: 2006
    Post Count: 81

    i am actually really tempted to use that service, i see it as risk money, but if i get what they say then ill be happy. so once i use it ill track down this post and update it with my experience…. could be a few months though.

    Profile photo of Jane - HotspaceJane – Hotspace
    Participant
    @jane—hotspace
    Join Date: 2010
    Post Count: 69

    Hi everyone its Jane from Hotspace Consultants here (referred to in the above posts).

    Yes I did ask some of my previous customers to hop on to this forum and give a testimonial for me – thought better than to big note myself… And I promise there was no bribery involved! They are real people and I'm pretty sure they'd be happy to provide a verbal testimonial.

    I am fully booked at the moment anyway, but there is loads of free info on my website (eBooks, Blog etc.) so lots to get on with while you start the planning of your reno's (see below).

    I wish you all well with your renovations.

    Regards,

    Jane – Hotspace | Hotspace Consultants
    http://hotspaceconsultants.com/home
    Email Me | Phone Me

    Renovating for Profit specialist

    Profile photo of Ben KBen K
    Participant
    @ben-k
    Join Date: 2010
    Post Count: 103

    Wisepearl – as illuminati said it may be worth considering it risk money, perhaps sacrificing something like a new laptop or something and chucking it at a reno consultant instead? it may be worth ten times the initial cost in terms of knowledge gained etc, in which case tell me! hehe, also you might learn enough from the experience for it to be a one off cost then duplicate that in future reno's

    what ever you decide i wish you th best and look forward to hearing how you go

    good luck!
    Ben and Mina

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