Buying a flat with difficult parking

cymruchris

I wouldn't have offered without there being a parking space in the proximity that was guaranteed. So it sounds like you've done the right thing from what you've outlined.

seven-day-weekend

We bought a terraced house in 1976 when not everyone had a car.  By the time we sold it in 2015 everyone had at least one car and some had two or more.  The street had free parking but anyone could park there and there was also a garage that parked its cars there while waiting for customers to pick them up.  It became like a linear car park on each side of the road and frequently we couldn't park anywhere near our house.

When we moved one of our main criteria was that the property we bought had off-road parking.  It got ridiculous having to carry shopping or stuff for the tip to the other end of the street to move it into the car.

If a car is part of your life, then you have made the right decision.

(We now have a property with a drive and space for two cars . Bliss!).

NameUnavailable

If parking is a requirement for you then you should probably walk away.

I bought a place with no allocated parking or garage but there is plenty of (permit) on street parking where I am so it wasn't an issue. I wouldn't want a place where I had to walk 20 mins or more to get to my car, think rainy days, early/late times, carrying stuff! Also your insurance may be affected (more costly) if the car isn't parked in your own area.

You also need to think about saleability, this will be an issue for other buyers when you want to move (and even if they don't drive it's still a factor for visitors and .... saleability).

lookstraightahead

If you're able to walk a little way, and you don't 'have' to park outside your property (eg for physical reasons), then it might be a step in the right direction (pardon the pun). 

My MIL never had a car and she was as fit as a fiddle.
we've recently got rid of one of our cars to see if we can manage with just one and I'm finding I don't really miss it much (don't have kids at home anymore, have a train line close etc). I did it as part of a get fit thing - and it's worked.

r4and0mno5

Deleted_User said:

I sympathise regarding the mortgage interest rate you were offered. I had an offer accepted on a property back in March when interest rates were incredibly low. I was subsequently gazumped, and it kind of sucks having to now apply for mortgages with higher rates. However, the situation has evolved in other ways (less competition, slowly reducing house prices) so hopefully, when you finally buy a flat, the difference in interest rates will be overridden by more positive factors, such as cheaper/ more accessible parking. Wishing you the best.

Sorry to hear you were gazumped, I can only imagine how frustrating that must've been. Yes, I'm just hoping that things cool down enough to offset the interests rates on what I'll need to borrow a bit, and next time I think I'll be going for a "no move no fee" solicitor!

Hope things work out in your search if you're still looking.

r4and0mno5

seven-day-weekend said:

frequently we couldn't park anywhere near our house.

Yeah, I made it work for me before because I had to, and because I hardly used my car anyway. But at least I could load, etc. Now I use my car every time I go to work. Currently I can park right outside with no problem and the idea of giving that up does not fill me with excitement.

r4and0mno5

NameUnavailable said:

Also your insurance may be affected (more costly) if the car isn't parked in your own area.

I'd considered this. It's not just the cost of physically parking the car, but then even that could be affected. The way prices of everything else are increasing, there's nothing to stop them putting a season pass up and there'd be nothing I could do about it.

r4and0mno5

lookstraightahead said:

If you're able to walk a little way, and you don't 'have' to park outside your property (eg for physical reasons), then it might be a step in the right direction (pardon the pun). 

My MIL never had a car and she was as fit as a fiddle.
we've recently got rid of one of our cars to see if we can manage with just one and I'm finding I don't really miss it much (don't have kids at home anymore, have a train line close etc). I did it as part of a get fit thing - and it's worked.

I'm on my feet a lot of the time and very active so that side of things doesn't bother me. It was more the inconvenience/ expense/ resalability

lookstraightahead

r4and0mno5 said:

lookstraightahead said:

If you're able to walk a little way, and you don't 'have' to park outside your property (eg for physical reasons), then it might be a step in the right direction (pardon the pun). 

My MIL never had a car and she was as fit as a fiddle.
we've recently got rid of one of our cars to see if we can manage with just one and I'm finding I don't really miss it much (don't have kids at home anymore, have a train line close etc). I did it as part of a get fit thing - and it's worked.

I'm on my feet a lot of the time and very active so that side of things doesn't bother me. It was more the inconvenience/ expense/ resalability

For sure, you have to consider your circumstances. All things being equal, it can work. 

r4and0mno5

lookstraightahead said:

For sure, you have to consider your circumstances. All things being equal, it can work. 

Definitely, and I'm glad to hear it worked for you. If the car park had been free, or there was plentiful street parking the same distance away, I would've made it work for me too.