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What's a garage worth?
tomstickland
Posts: 19,538 Forumite
I'm just interested in opinions really.
I bought my 1 bed flat without a garage, but on looking at the deeds found that I owned a garage. I took possesion of it and have recently added power and water to it.
I live in a block of 9 1 bed flats and there's loads of off road parking and a car park with allocated parking for each flat. So unless someone wanted the storage space they're not going to suffer without one.
The flats are worth about 90-95K at the moment. It's on a reasonably smart estate of late 80s houses in a semi-rural location in the Stroud valleys.
Just for a laugh, what difference do you think it would make to the selling price of my flat having a garage?
PS: I'm not thinking about selling.
I bought my 1 bed flat without a garage, but on looking at the deeds found that I owned a garage. I took possesion of it and have recently added power and water to it.
I live in a block of 9 1 bed flats and there's loads of off road parking and a car park with allocated parking for each flat. So unless someone wanted the storage space they're not going to suffer without one.
The flats are worth about 90-95K at the moment. It's on a reasonably smart estate of late 80s houses in a semi-rural location in the Stroud valleys.
Just for a laugh, what difference do you think it would make to the selling price of my flat having a garage?
PS: I'm not thinking about selling.
Happy chappy
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Comments
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gotta be worth a few grand at least knock fair amount off your car insurance for a start plus good storage space0
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I just built a double garage and it cost £20,000.00"Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0
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Is it big enough to turn into a studio? I've paid £200 quid a month for something about the size of a garage before, with en-suite shower, kettle, toaster and nuke. The house owner would allow me to come in and use her kitchen as well. That was in the country, you may get more in the city.0
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The last property I lived in that had a garage was a two bedroom flat in Purley, but that was 5 years ago or so, it made about £5K - £6K for the flats with a garage.0
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I would say about 5k-7k, probably worth more if near town centre/city centre.
If you dont use it why not rent it out if you need cash, just an idea.0 -
House next to my new one went for 114k last October, and theres had a garage I got mine for 90k and it didn't have a garage.0
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Hard to tell really, if your flat is as small as mine, then I imagine it'll add a little, extra storage space & all. From a rental point of view, round here it costs c. £50 a month to privately rent a garage (without power or water) or (£6 pw from the council). If you want a yield of 10% that makes it worth £6k."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Oh no! I've just added power and water so I can use it for car and bike maintenance.If you dont use it why not rent it out if you need cash, just an idea.Happy chappy0 -
As I said it was just an idea, depends on whether you need it or want cash, I no plenty of garages round my area that are rented and I live 10 mins from town centre which also has residents parking, most of garages are taken by people who live round here.0
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Depends on what the individual wants it for as well.
Eg:
The same garage would have a different value to the following people but would depend on if you are looking to store your prized classic car or simply want somewhere to put your mountain bike.
Andy0
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