Should I buy a garage??

cslogg

I live in a Victorian terrace house.
A garage has come up for sale about 200yards away.
Its in a block of twelve and is in good condition with a new door fitted 18 months ago.The parking where I live is pretty difficult with residents having to pay £40 a year to park with no guaranteee of a space,its first come first served.Obviously buying it would allow me to park every day but would it be a good investment?Its on ther market for £9500 but I am pretty sure I can get it a bit cheaper.I live in Herts by the way and my house is probably worth around £250000 although I doubt if I will be selling in the next ten years.

Any thoughts??

Thanks
cslogg

PasturesNew

If you can afford it. Buy it.
I'd say buy it even if you didn't have a car.
You can't lose if you own a garage.
You can use it, or rent it out while you live there.
When you come to sell it will add value AND make your house more saleable.

Get down there and grab it now.

nutmegman

I would go for it, when i sold my terraced house many people were put off by parking.....

Dont look on it as an investment, ok you shouldn't loose money on it, but it will help sell you house

BiggaThanBen

I would go for it, especially if that is a proper garage which can fit an average car not a mickey mouse one where you can not even open a door once inside

m1ntie

PasturesNew wrote: »

If you can afford it. Buy it.
I'd say buy it even if you didn't have a car.
You can't lose if you own a garage.
You can use it, or rent it out while you live there.
When you come to sell it will add value AND make your house more saleable.

Get down there and grab it now.

Good advice! If you can afford it - go for it.

Muppit_2

We recently looked at a property with no dedicated parking - totally put us off a property which would have otherwise been very sellable. The property had been on the market for over a year so I think others must have agreed also.

lisahobden

Less than 10k for a garage in Herts?? Go for it!!

PS Where is it, I might buy it myself.... only kidding!!

poppysarah

Can you afford it?

It'll add value to your home. You could probably rent it out if you wanted it to earn it's keep.

cslogg

Well going by all of your replies it looks like its a good idea.
To answer a couple of your questions.yes I can afford it and it will cost me £8000 with a 900 year lease.

cslogg

titewad_2

cslogg wrote: »

Well going by all of your replies it looks like its a good idea.
To answer a couple of your questions.yes I can afford it and it will cost me £8000 with a 900 year lease.

cslogg

It would be no good for Connor McCloud