Can i sell my garage

Beatle_Ray

Hello,


I just had an idea, we don't use our garage, only for storing rubbish essentially, if I cleaned it up and put a new door on it can I sell it separately from the house and if so how would I go about this and what would be an average price, the garage sits behind the house independently, we live in East Hertfordshire.

lincroft1710

Do you mean sell the garage along with driveway access

Guest101

Do you have a mortgage? - if yes, then it's going to be difficult.

armchaireconomist

If mortgaged, no, probably not. In addition to "selling" it, if it's behind the house you will need to include a right of access etc. which would make your house far less saleable in future.


I would consider renting it out personally if you're that keen to make money from it. Location dependant of course.

eddddy

If you have a mortgage, you would have to ask your lender for consent to release part of the property.

They would send out a valuer to value the house without the garage, to make sure you were still within the LTV limit of your mortgage.

If you're not within the LTV limit, they might require you to pay off a chunk of your mortgage, with the money from the sale of the garage.


(FWIW, I'm guessing the garage is behind your house and is accessed from an access road that runs behind the houses. I think others may be guessing differently.)

AnotherJoe

I think very few people would be interested in buying a garage, because they would have to sell it at some point and that would be difficult. . Chicken and egg. Why would they not just rent one if they wanted a garage ? (Central London or Edinburgh, maybe would be an exception)

Also, it would make a big difference to the value of your house (quite possibly more than the garage would realise) especially if access rights came with the garage ((which would be almost mandatory).

Why not just let it out ? Doesn't cause any issues when you come to sell, up if you change your mind. Selling would be irrevocable, letting it out, not.

Ocelot

If the garage is in a block, then yes people can and do sell them. I bought one in 2005 (sold it last year). You often see garages in the 'commercial' section of rightmove. When you say sits behind the house independently, is your garage actually on the boundary of your property or in a block?

G_M

Rent it out. Weekly, monthly or annually.