How much is reasonable to buy a car parking space in addition to a house?

ProDave

FWIW, I think £20k for a parking space is a steal, but I think I am in a different part of the country to you.

It does depend where you are.

I paid £50K for a 1/3 acre house plot with planning permission to build a house and we have a garage and space to park at least 6 cars outside.

housebuyer143

ProDave said:

FWIW, I think £20k for a parking space is a steal, but I think I am in a different part of the country to you.

It does depend where you are.

I paid £50K for a 1/3 acre house plot with planning permission to build a house and we have a garage and space to park at least 6 cars outside.

Yes and my neighbour bought 3 parking spaces from the council behind her house for £5k including all the legal fees. 
I would say £20k is a lot for one space but on the other hand, the property will sell better and for more with it, so I would likely still buy it. Try and haggle the price though.

baser999

Flugelhorn said:

sheramber said:

prowla said:

NibblyPig said:

Thanks for all your answers.

The property is freehold. Imagine a a courtyard, basically, a gravel carpark, and the buildings are around the edge of it. The front door of the property basically opens onto this courtyard, with about 2 metres of paving slabs separating it (this 2 metres of slabs forms part of the property, there are no other gardens). You could put a table and chairs and sit in front of the property, and you'd be right at the edge of the courtyard area.

The whole courtyard is being divided into spaces, so there is the option to purchase 1 or more. I would be able to get one (or more) immediately outside the property, although I don't really have the budget for more than one and I'm stretched so thinly already on the prospect of buying the first.

But your replies seem to have made it clear to me that it would be a good investment to buy one, just to make the property more attractive in the future.

If these spaces hit the open market I don't know if they'd sell like hot cakes or not. But probably better not to wait and find out.

So someone else could buy the portion of road in front of your house?

And is likely to if the OP doesn't buy it.

spot outside your house is definitely worth a lot - you don't want someone else parking there. Buy it, will make the house so much more sellable 

So OP doesn't buy the space outside his house and developer sells to someone who decides to park a motor home, lorry, or similar nasty eyesore there 24/7. Not sure that I’d welcome that? If the space is £2000 and the best annual rate nearby is £1300 pa then the space is effectively free after 18 months? 

eddddy

baser999 said:

 If the space is £2000 and the best annual rate nearby is £1300 pa then the space is effectively free after 18 months? 

The OP says the space is £20k, not £2k.

user1977

baser999 said:

Flugelhorn said:

sheramber said:

prowla said:

NibblyPig said:

Thanks for all your answers.

The property is freehold. Imagine a a courtyard, basically, a gravel carpark, and the buildings are around the edge of it. The front door of the property basically opens onto this courtyard, with about 2 metres of paving slabs separating it (this 2 metres of slabs forms part of the property, there are no other gardens). You could put a table and chairs and sit in front of the property, and you'd be right at the edge of the courtyard area.

The whole courtyard is being divided into spaces, so there is the option to purchase 1 or more. I would be able to get one (or more) immediately outside the property, although I don't really have the budget for more than one and I'm stretched so thinly already on the prospect of buying the first.

But your replies seem to have made it clear to me that it would be a good investment to buy one, just to make the property more attractive in the future.

If these spaces hit the open market I don't know if they'd sell like hot cakes or not. But probably better not to wait and find out.

So someone else could buy the portion of road in front of your house?

And is likely to if the OP doesn't buy it.

spot outside your house is definitely worth a lot - you don't want someone else parking there. Buy it, will make the house so much more sellable 

So OP doesn't buy the space outside his house and developer sells to someone who decides to park a motor home, lorry, or similar nasty eyesore there 24/7. Not sure that I’d welcome that?

I'd be impressed if the developer was providing such generously-sized parking spaces that they will accommodate a lorry - in any event there will almost certainly be covenants restricting what can be parked.

baser999

eddddy said:

baser999 said:

 If the space is £2000 and the best annual rate nearby is £1300 pa then the space is effectively free after 18 months? 

The OP says the space is £20k, not £2k.

Agreed, misread it.

dimbo61

I would buy at least one parking space and if possible two spaces.
Maybe offer £30,000 for 2 spaces outside your home.
Install an electric charger and charge drivers money for a parking space or two in the town centre with the option to charge their electric cars while parked up.
Lots of parking apps now available for you to advertise your town centre parking spaces with electric charging facilities.
Your in control and can earn money from your spaces and electric car charger.
This will add value to your home.
Make it much easier to let either short term of long term
Think about it many peop!e would like a parking space outside their home