Buying a freehold garage

IanCT

Right, having been messed around on the sale of our house, I'm left with a choice: rent or buy a garage to store a very old (non-running) car in.

Obviously renting is fine, but I'm thinking that the value of garages must be pretty stable and so I'm much less likely to lose money on one that's either near a station (I live in the London commuter belt) or in a nice residential area.

So, what are the pitfalls and hidden costs I need to be aware of? Who can provide the correct information about a property with some reliability and accuracy?

I've heard about peppercorn rents but these seem to apply to leasehold garages. Are there sometimes similar service charges applying to garages?

There are two general categories as far as I can see, either separated from a freehold house by a previous sale or ex local authority in a block of similar garages.

Are any council rates payable, or other similar charges?

All advice welcome, thanks.

Ian.

Bananamana

IanCT wrote: »

Right, having been messed around on the sale of our house, I'm left with a choice: rent or buy a garage to store a very old (non-running) car in.

Obviously renting is fine, but I'm thinking that the value of garages must be pretty stable and so I'm much less likely to lose money on one that's either near a station (I live in the London commuter belt) or in a nice residential area.

So, what are the pitfalls and hidden costs I need to be aware of? Who can provide the correct information about a property with some reliability and accuracy?

I've heard about peppercorn rents but these seem to apply to leasehold garages. Are there sometimes similar service charges applying to garages?

There are two general categories as far as I can see, either separated from a freehold house by a previous sale or ex local authority in a block of similar garages.

Are any council rates payable, or other similar charges?

All advice welcome, thanks.

Ian.

You would only be paying a rent if the property was leasehold or subject to a management company.

Have you found one nearby that you think may be for sale?

For most garage purchases they are straightforward transfers of part with a land registry fee of £50.

IanCT

Thanks for the reply.

Yes, found one locally, I guess the question is whether there is any need or requirement for Land Registry searches, or for a conveyancer to touch any of it?

Obviously the garage is in a residential street between houses and has a driveway of about a car length in front of it as part of the same plot, so no obvious rights of access across or through it.

If for example the (prefabricated) garage itself was a bit tired, would I require planning approval to replace it with an otherwise identical building provided it was of 'substantially non-combustible' materials as would be used now?

I've never had to buy or sell land before, apart from my house, which was handled by a solicitor. If it's straight forward and being of low value anyway, I'd obviously prefer to do as much of that work myself to save money.

Thanks,

Ian.

Bananamana

You need to check the title, prepare the Transfer (of whole or part) and apply to the land registry.

Slightly more complicated if the vendor has a mortgage over the land as they'll need to appoint a solicitor to obtain a release of it over that part of the property.

For the sake of around £200/ £250 in legals I'd have a solicitor do it if only for peace of mind.

I should add the caveat to that that I am a solicitor so take that with a "little" pinch of salt.

IanCT

Thanks for the reply again, and don't worry about the caveat, in fact, thanks doubly as it's reliable and you didn't charge for it. My dad is a retired solicitor but property was never his thing so I try not to pester him.

I'm actually happy to pay the £200/£250 in legal costs for peace of mind, particularly if either the garage is still part of another property. I've since been looking more carefully and found another garage more local to me for less money. I find it difficult to gauge values on this sort of thing and while the indications seem to be in the range £5k to £20k, the first was a shabby free standing one for £17.5k which I couldn't really justify, the second is 'en bloc' in a reasonable road, and obviously cheaper.

Next question is probably obvious but I'll ask it anyway...

When part of a brick built block, with rotting fascia boards and a common roof that runs the length of the block and probably no contact with the neighbours, how should an owner of one garage approach repairs? Is there likely to be information in the deeds?

Common sense would suggest that each owner just repairs their own property but I'm not sure if it holds.

Thanks for your time.

Ian.

IanCT

Bananamana, thanks for your help, I've had a search but can't find companies offering conveyances for this sort of money anywhere and wonder if I'm not asking for the right thing - quotes are coming in at around £350, ranging up to as much as £800 even in view of the £8k agreed price.

I've accidentally found a much more suitable garage locally for £8k in a really good area, so am basically ready to proceed now, just need to hire someone!

Any advice welcome.

Ian.