Will it make money?

d900

Good day,
I currently own a house that has a garage in a block. I am looking to separate the garage from the house on the deeds so both can be sold separately (or I can keep the garage and sell the house etc)

The garage is expected to go for at least £5,000 and i have been advised to put it up in an auction.

Does anyone see any issues with this?

The house dosnt gain any value from having the garage and if i do sell it i can still sell the buyer the garage if they want (perhaps offer it as a freebie to get the max asking price etc)

Has anyone done this? Is it possible?

If so how much does it cost and is it worth the hassle

Thanks in advance!

maninthestreet

"The house dosnt gain any value from having the garage and if i do sell it i can still sell the buyer the garage if they want "

I'll think you'll find that this sort of arrangment puts buyers off. If you did sell the garage to someone else via auction, I'll think you'll find it does devalue the house when you come to sell.

Kez100

You say your house does not gain any value by having a garage. Why not? I know it's not next to the house but I would value a place to store my car, or a freezer or, even if there is no electric socket, stuff that I can't keep in the house.

If other homes in your estate/road/terrace are being sold with garage space I would expect, when you come to sell, it will reduce the value yours will sell for. If other houses are being sold without such a facility and yours had one, I would expect your home to be higher in value. I can understand you wanting to sell it but I don't understand your argument that it's not worth anything for the house to own it.

d900

well i asked 7 estate agents - all of whom valued the property at the same amount and all said "if i was you i would sell the garage"

dosnt it add any value to the house i ask

"no" they reply.

like i said if someone wants to buy needs teh garge i will chuck it in for them.

while i dont like or trust estate agents the 7 i asked are all local and know the area better than me

Gorgeous_George

It may make little or no difference to their guesses (valuations my !!!!!). This is because they are guesses based on greed.

I wouldn't even look at a house that did not have a garage. I'm a bloke and I need a garage!



GG

Kez100

d900 wrote: »

well i asked 7 estate agents - all of whom valued the property at the same amount and all said "if i was you i would sell the garage"

dosnt it add any value to the house i ask

"no" they reply.

like i said if someone wants to buy needs teh garge i will chuck it in for them.

while i dont like or trust estate agents the 7 i asked are all local and know the area better than me

My husband has a habit of asking salemen stupid questions as well. You know,he sees a second hand vehicle and asks 'do you get a lot in this condition?' 'Are you expecting a lot more cars in when the registration number changes' ...... these people are NOT independant. :rolleyes: They have a vested interest in the answer they give you.

Can I say, I cannot believe that 7 agents all valued your property at exactly the same amount and all happened to say exactly the same thing.

Is this garage in a decent condition?