Buying a flat with no parking space

united4ever

Am buying a shared ownership flat (50 % - full price 175 000) but there is no allocated parking. Is this flat going to be really hard to sell/let in the future?

It's only the SO flats that have no parking, hence they are £30 000 cheaper. Surely the parking space alone isn't worth £30 000 so maybe they are subsidised a little. The flats in the centre of a medium sized town (Altrincham) with great public transport links, tram takes 25 minutes into Manchester city centre.

But parking is apparently really hard to find in the centre of Altrincham, there's always traffic wardens around so I doubt I could just park a car in the street nearby. I don't need a car myself but I could see it being an issue when I try to sell a few years down the line. The flat has everything else you could want, parking is the only issue. Do you think this will be a big issue in the future?

peter999

united4ever wrote:

Do you think this will be a big issue in the future?

Of course it will be a big issue, that's why you are asking the question.
It will be an issue now, not just when you try to sell in future.

Properties are being developed & specifically will not be allowed Residents Parking Permits under Section 106 agreements.

See following:
http://www.richmond.gov.uk/home/transport_and_streets/motor_vehicles_roads_and_parking/parking/car_parking_permits/residents_parking_permits/properties_not_allowed_resident_parking_permits.htm

They want you to get on your bike or use public transport.
I think it's outrageous hypocrisy.

I don't think people who cannot afford more expensive properties, should be discrimanted in this way regarding their basic needs people take for granted
ie: being able to own & use a car.

vansboy

Guess the mods'll move this to House prices/property in minute, but...

Our new flat is in a cul-de-sac, with unrestricted parking, too - not sure how long this'll be, but if the places have a garage, it adds another £5000 at least to the value.

There is a new development of verrrrrrry expensive flats nearby & they only have 1 parking sppace per flat & no option to buy/rent another. This MUST be a long term drawback, for centre of Luton, guess it'd similar for your area.

We certainly wouldn't consider ANY property without some sort of designated parking.

VB

pompeyrich

Well it could be an issue but you're prepared to buy it so surely there will be someone else who is also prepared to buy it in the future. I paid £20,000 for my 1st house, with no allocated parking, in the cheapest area of town, I was on good money and stretched myself, then I worried who would buy it, if they were on more money than me they would want a better area if they were on less they wouldn't be able to afford it. I sold it ok for double what I paid and people are still buying them for nearer £150,000 today. So if it feels right now do it, yes it might put some people off in the future but you will be selling it for a lot less than those with parking so it should still be attractive to someone.

AKK_3

Hi,

I am in the process of buying a flat with no parking space cos the council are not giving out parking permits. Although I have called them and asked for a form and see if they process it. They guy didn't seem to know it was an issue. Long shot me thinks!

Its an issue that does concern me but the housing association have taken the deposit out of my account. It seems like its too late to change my mind now!

I really like the flat, 3 mins from station and on the high street!

I don't think they are building developments with parking anymore, well not in London anyway!

A

Alan_M_2

I thought it was a planning requirement that parking be provided for multi occupancy buildings? It certainly is around here (Tandridge council) maybe it varies from council to council.

scorpio_princess

They've done a similar thing here with a posh new development (cheapest flat is about 200k) - no parking at all, on the whole estate! Have to say, it hasn't affected sales - they all sold before they were even built (although the vast majority went to BTL). Thing is, the roads are really tiny and narrow, so there's not even the option of parking on the road. As far as I can see, this is a blatant government 'initiative' to force people to use public transport (more people would use public transport if it was a, cheaper b, cleaner and c, more reliable - not rocket science!)
Also, the fewer parking spaces and 'empty spaces' there are, the more houses and flats they can fit in = hey presto, more money!

I wouldn't personally buy somewhere with no parking. Even if you don't drive or have a car, I presume you have friends and family that do drive, and would therefore need somewhere to park? It could be quite lonely and islolating of nobody can visit

olly300

Alan_M wrote:

I thought it was a planning requirement that parking be provided for multi occupancy buildings? It certainly is around here (Tandridge council) maybe it varies from council to council.

No in certain places normally cities, developers are allowed to build flats with no parking spaces or not enough parking spaces for the number of occupants i.e ensuring there is less parking spaces than one per flat. The reason these get planning permission is they build them close to public transport i.e. train stations.

However lots of local residents are getting wise to this and are kicking up a stink because they know that people who work will park in their spaces during the evening when there are no traffic wardens and will ensure their car is elsewhere on the weekends.

seven-day-weekend

I have a Victorian terraced house and it has no parking (didn't need it in Victorian times!).

People have to park their cars in the road. Many old houses are like this and it doesn't seem to put people off buying them.

It's not just a problem with new build.

mrsS_2

Had Victorian Terrace myself- had to park miles away

little problem with the sainsburys shop each week though....how many carrier bags is it possible to get on each arm?

Also if you internet shop for your groceries the van has to park somewhere in order to deliver....

resorted to using my grans shopping trolley!

lynzpower

Alan_M wrote:

I thought it was a planning requirement that parking be provided for multi occupancy buildings? It certainly is around here (Tandridge council) maybe it varies from council to council.

Definatley not in london. It seems "car free developments " are becoming the norm.

Nothing to say you cant get "visitors" permits though, when my folks come down or I have a tradesman coming I give them a visitors permit - that were something like 10 for a fiver.

Not bad for 5 hours or whatever it covers