New build flat with no permanent parking

gfplux

Sailor Sam, remember your friends may also have downsized and no longer own cars.

uk_american

I bought such a place in 2009, purpose built flats, a 30 second walk to the bus station and 1 minute to a commuter line into London. It was built in 2006. None of the flats had parking, parking is restricted 8-6 in this area but free on Sundays.

Fortunately, a friend lets me park cost-free, a 10 minute walk away. It's a hassle when I want to get the cat to the vets but otherwise I do my shopping after 6 or on Sundays, but mainly as I'm walking past shops I'll pick up things on my way home.

Flats in this building rent prior to them being vacated: uni students, young professionals working in London or locally...the majority don't own a car and don't care. Having spoken with some, they're not even licensed, so really not a care!

Run the numbers...plenty of people are happy with a flat without parking in my area, you just need to see if it works for you too?

Jam88888

TBagpuss wrote: »

do the developers own the garages? if so, then you could try to negotiate to buy, rather than rent, the garage, or for a longer lease.

I am sure that it will be harder to sell a flat with no parking, than one with parking, when the time comes. But presumably you, and any future buyer, would be paying less than you would pay for an equivalent flat with parking.

If parking is already tight, then the premium people will pay for allocated parking will be high.

It would be a deal breaker for me, personally. After 18 years of living in properties with no off road or allocated parking, I didn't look at anything which didn't have parking. And I lived in areas where parking wasn't horrendous.

No, the developers actually had to pay a big sum to secure the lease of two garages (for six flats), so first come first serve. Hence the 1k p.a. fee for the garages.

Actually the flats are costing more or at least the same as equivalent places with car parking, which has contributed greatly to our dilemma as well as the garage issue.

Jam88888

uk_american wrote: »

I bought such a place in 2009, purpose built flats, a 30 second walk to the bus station and 1 minute to a commuter line into London. It was built in 2006. None of the flats had parking, parking is restricted 8-6 in this area but free on Sundays.

Fortunately, a friend lets me park cost-free, a 10 minute walk away. It's a hassle when I want to get the cat to the vets but otherwise I do my shopping after 6 or on Sundays, but mainly as I'm walking past shops I'll pick up things on my way home.

Flats in this building rent prior to them being vacated: uni students, young professionals working in London or locally...the majority don't own a car and don't care. Having spoken with some, they're not even licensed, so really not a care!

Run the numbers...plenty of people are happy with a flat without parking in my area, you just need to see if it works for you too?

I agree that it would be easy to rent out as it is so close to the station there will always be interest. The main issue is if we decided to sell, the market will already be narrowed due to the uncertainty over the parking space. Although, it may turn out that in the future, our area will be like yours and people will not be too worried about parking space. We're just not sure it is worth the risk right now.