***MY FIRST 12 MONTHS AS A HMO INVESTOR*** Month 5, May 2018
Month 5 was lots of shopping! Now, I could have asked my builders and electrician to source the kitchens, bathrooms, tiles, sockets, light fittings etc- and they did get some items- but I really wanted to keep costs down by doing this myself and build great relationships with suppliers for future projects.
A lot of the products were bought through LNPG suppliers, including the kitchen, bathroom / en-suite items, paint and door fittings.
Tiles and carpets were sourced locally.
The design course that I had been on also recommended products, colour schemes and design tips on how the various items complement each other and come together.
This did slow down the process a little, as I was doing lots of research, meeting suppliers, waiting for quotes. However, this was time well spent.
A buying group like LNPG will save you lots of money in certain areas. However, don’t ignore local suppliers - you can source great products and service from them at reasonable prices.
Try to follow design guides and recommendations from professionals. Some classic design concepts and ideas have been around for a reason - they’ve withstood the test of time.
Start sourcing your products as soon as possible. I was a little guilty of not having items ready for the tradesmen when they needed them and precious time was wasted here researching items. However, I don’t beat myself up about it too much. I was creating a product that I would base future projects on - and it was my first one!
Any questions, please let me know!
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