One pertinent question often asked by property investors is “how can I maximize my return on my investment property?” Does mere furnishing an apartment justify a higher rental, or is there more to it? How it is that the owner of an identically sized property is able to command a higher rental than another? Well the owner receiving the higher rental is able to do so because he has invested in Interior Design (ID) work. Research and studies in the property market indicates that a property with ID, can fetch a higher rental or sale price compared to one without. To understand what ID really means to investors and home owners and how it impacts a property, I set out to look for an expert in the subject of Interior Design.
After much scrutinizing, I found the perfect man for the job. You may already know him as he has been featured many times in the media which includes The Edge, Cleo, Her World and other leading magazines. For those that don’t, meet the interior guru; Kennedy Raj, a man with a passion for ID. Kennedy runs a multi-disciplinary consultancy that encompasses Architecture, Interior Design, Interior Fit-Out Works, Landscaping and Lighting Consultancy and consults on projects throughout Malaysia and Indonesia. During his leisure time, he is an avid photographer whose interest in nature and landscape has allowed him to build an international portfolio of images with elements of architecture in nature. Kennedy was kind enough to take time from his busy schedule to do an interview with me and to share with DamansaraPerdana.com.my readers insights and wisdom on doing ID right.
DP: What does interior design really mean and how is it different from mere furnishing of a property?
Interior Design takes into consideration totality.
Essentially it’s selecting and combining various DNA of space creation, which includes all types of building materials, finishes, lightning, space planning, mechanical and electrical, which is then merged and balanced to create functionality that meets the clients needs, and ultimately conforms to his or her preferred ambiance and lifestyle through shape, textures and visual stimulation.
For comparison sake, have you noticed that some magazine layouts of interiors just doesn’t move or speak to you?
It can be decorated with lavish furnishings like vases, chandeliers, expensive wallpaper, but the entire look does not come together or even evoke a sense of ‘desire’ for the reader to live there?
DP: What are the factors that one must consider before beginning ID on their homes or investment properties?
I believe there are 3 essential components (i.e. The Holy Grail): timeline, concept and budget. If you don’t get this right, starting an ID project is going to be a painful experience.
Timeline:
With any type of project, a client needs to provide the Interior Designer with a sufficient and realistic time frame. Majority of the important work is done during the preliminary design stage; this includes space planning, coordination of materials and colors, electrical power points, air conditioner positioning, lighting points, light fixtures, wet works, plumbing,window treatments, and the list goes on.Most often, there are going to be debates and a lot of discussions with the client on their wants versus their needs, especially taking into consideration their budget.
This preliminary design stage is vital. And I use the word vital strongly. It’s so important to spend the time planning and getting it right, so that when it comes to implementation at site, we minimize problems that could delay the completion of the project and worst still, delays that may cost the client more money unnecessarily (e.g cost over runs).
Hence, once all of the above has been confirmed and signed off by the client, the next stage is naturally the implementation. This is normally faster than the planning stage, depending again on the detail of work at site, delivery of materials from suppliers, public holidays, etc.
Concept:
Making the decision on a concept is pertinent. I normally give my clients some kind of homework. I ask them to search the Internet, magazines and home design journals and keep a scrap book of looks that may catch their eye. It saves both the client and I some time as I can visually understand the concept and lifestyle ambiance they are trying to achieve. It’s then my job to collate all this visual information and create their individualistic desired concept based on their budget and timeline.
Budget:
Like everything else in life, a budget is essential. There are carpets that can cost as little as RM2psf and those that can go as high as RM350psf. The same for tap fittings of RM50 and RM3,000. Hence, by setting a budget you really are giving yourself and your interior designer parameters to work within. Boundaries are set.
Also on the topic of budget, is knowing where to spend the money. Are you a cooking enthusiast? If so, you may want to splurge on your dream kitchen with all the bells and whistles, while allocating the remaining money on basic wall finishes, etc.
On this note, the client gets to first decide where he or she wants to spend the money. It’s the designer’s job to then help source for materials and finishes that can fit into the budget and concurrently to the client’s liking. Sometimes however, the client may ‘break’ the budget as they want their cake and eat it too.
Some clients may be so enticed by a particular wall paper that they may decide to trim down the budget on the kitchen in order to get a great wallpaper in the living hall. My job is to ensure I help the client stick to the budget and advice them where it’s pertinent to spend the money. I do not want the client to be penny wise and pound foolish.
DP: Can you highlight some of the common mistakes people often make when attempting to do interior design work?
The most common mistake is not knowing where to start and under budgeting. Some people may start off trying to accomplish a desired concept but with an unrealistic budget. You have to remember that in order to achieve a holistic concept, you need to spend the money on wall and floor finishes and appropriate light fittings; and not just buy any bunch of furniture.
Hence again, it’s about the entire cohesiveness of the design, and this is not easily achieved by an untrained eye.
DP: Some may argue that ID is unnecessary and a waste of money mainly in studio apartments as the maximum rental one can hope for with or without ID is not too great a difference. How does a property with ID compare to a property without ID (both fully furnished) in terms of capital appreciation and rental income in such instances?
I think its best to try to look at this from a tenant’s prospective. If the market for the studio apartment is fairly new with many vacant units, I think a tenant who appreciates a good living ambiance, quality finishes in the bathroom and kitchen, is definitely going to be impressed with your unit.
Hence, in a glutted market condition like now, I personally think that most property investors in the rental market need to invest in ‘smart’ interior design, taking into consideration the needs of a potential tenant.
DP: What makes a good Interior Design and how should one select the right designer to work with?
You should be aware that there are Interior Decorators, Interior Furnishers and Interior Designers.
Interior Designers are registered under the Institute Pereka Dalam Malaysia (IPDM) which comes under the preview of Persatuan Arkitek Malaysia (PAM). Most contractors today claim to be Interior Designers but instead are self proclaimed decorators based on years of experience renovating people’s houses or apartments.
DP: Many of us perceive that ID comes at a high cost. What advise can you give someone looking to include ID in their properties but don’t have a big budget to do so?
The high cost is subjective. It all depends on the space and the budget. As for the fees for an Interior Designer, I think it’s suffice to say that you are essentially paying for the experience, design and time incurred to get your functionality met and ambiance created. For example, it’s just like hiring a lawyer for his or her consultancy, who works to understand your issue/challenge and provide you the best solution.
At the end of the day, it’s better to view the appointment of an Interior Design as an investment. If you do not have a big budget, perhaps it’s better to sit down with the designer and work out some perimeters on the scope of works that he or she is able to assist you with, and from there you can work out some adjustments to your budget.
Kennedy does corporate and residential ID work. If you have any inquiries or would like to reach him, you may call his office at 03- 2287 6654 or write to : dwssbid@gmail.com
Excellent works by the Interior Designers