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Garages as an investment
barrymung
Posts: 638 Forumite
Been chatting with a knowledgeable estate agent friend of mine about the property market. He's of the opinion (And I think I tend to agree) that freehold lock up garages could well be a good property investment, given the housing dip.
The logic being that parking spaces are in short supply, new properties (esp flats) having inadequate parking provision, soaring in car crime, people putting stuff into storage etc..etc.
Down this way £15k will buy you a tatty lock up..decent one £18k to £20k at local prices. Wouldn't cost too much to turn a poor one into a good one.
Long term, there's rental income and potential price increases.
Good long term investments? Bad investments?
The logic being that parking spaces are in short supply, new properties (esp flats) having inadequate parking provision, soaring in car crime, people putting stuff into storage etc..etc.
Down this way £15k will buy you a tatty lock up..decent one £18k to £20k at local prices. Wouldn't cost too much to turn a poor one into a good one.
Long term, there's rental income and potential price increases.
Good long term investments? Bad investments?
0
Comments
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What do they rent for? £15k - I'd want to see £100 per month if you can achieve that then possibly worth a punt.0
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But car crime is falling... Otherwise sound.
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