To buy a garage?

[user593]

The house we bought is a little bit too small for us. One of two concerns we have about it is that it doesn’t have a garage. We don’t need it for our car but it would be great to have storage for camping equipment, seasonal decorations, etc. Storage units are expensive, SDLT is expensive, and a garage about five minutes walk away has come up for sale.

AIBU to buy the garage? It would hopefully be an appreciating asset rather than dead money wasted on private storage.

If anyone has any positive or negative stories regarding doing the same I’d be pleased to hear them!

Friend of my granddad's bought a double garage years back, five minute walk from his house near the allotment it suited him to have it there and it was a good deal apparently, he just sold it for a pretty penny to a developer who wants to build a house on the land. I think it depends where you live land never loses value here but we're spitting distance from London

Yes go for it

@TheCurious0range We’re in London and it’s near the station. It wouldn’t have development potential though (I don’t think).

It sounds like an excellent idea. Just look at some of the parking threads on here.

Parking in London near a station is never going to lose value!

I don't know how people manage without a garage! If it's a good deal, do it!
As per a PP, a garage near a London station will always have value.

I have a garage up the road and round the corner that a previous owner of my house evidently bought for this reason. There's no downside really, apart from occasional maintenance; it's handy to have, not too far away, and you don't really have to think about it when you're not using it.

If you don’t have space to build one on your garden then sure, buying one locally seems worth while if you have the means.

I guess this is one of a block of garages, I used to live in a cul-de-sac, our garages were in a block at the end, presumably because it allowed more houses and garages in a the limited space. I could just about get my car in, but usually used it for storage. The worry is security if you intend to put anything of value in it, bikes, tools etc. Mine, I'm sure could have been opened by just tugging the handle hard, a couple of them had big padlocks fastened to the door and eye bolts set into the ground, which does sort of give away that there might be something inside,

I think it would be very useful and definitely worth buying.
I would not want to store valuable or sentimental items there but a really good place to store "stuff".

You never know what the future may bring with regards to property/land so it could well be a very sound financial investment.
If nothing else, it should increase the desirability of your house if it has a garage in the immediate vicinity.

One of my uncles owned a series of garages/lockups, they provided a steady income for decades and eventually made him a very significant sum when he decided to sell.

A garage in London and near the station is a very good investment. Should you even find yourself not needing to store staff, you can rent it out on a monthly basis quite easily.

Sounds like a good idea to me! We have a garage and still bought another garage at the end of the village! Ours is for storage too, between camping and hobby equipment it would have taken over our house.

Ooh how much (roughly) would this cost? Such a good idea I’ve never thought of!

You could rent out the parking space daily using one of those apps that does it all for you

This one is £30,000 but we’re in an expensive part of London.

Unfortunately it doesn’t have a drive (communal access to a row of garages) and the garage itself would be full of our stuff.

If its camping and seasonal stuff, have you tried de-cluttering first? Sometimes people will hold onto stuff without actually using it and it becomes stuff that you either pay extra money (buying or renting space is the same thing regardless of how you do it). I'd look for a bigger house, perhaps in the outskirts of London?

What's your loft like, OP, is it boarded? I'd be looking at that first, if not.

30k plus annual insurance and maintenance to store a Christmas tree and a fucking tent 🤣

Is this really the best solution you can find OP?

Sounds like it will appreciate so it's a solution to a problem and an investment.
I think I'd go for it if I was you OP.

how much would the legal stuff to sign it over to you be i wonder??

We could afford to buy a bigger house where we are but the SDLT alone would be £150k and the garage is £30k. DC are settled in a local school also. We’ve decluttered. We don’t actually have any camping stuff yet. We’d like to buy some (two young boys and a DP who loves camping) but we don’t have the room to store it.

It’s converted. We have a bit of storage deep under the eaves but not enough.

It’ll end up being more than that I’m sure but that is what immediately comes to mind. DP also has a boxes and boxes of books he won’t part with. Alternative would be to move I guess. We otherwise like our house though and are mortgage free.

30k is that freehold or a lease? A storage locker woukd likely be 1200 a year depending on size so could work out...
Is it dry insulated etc ? Rats? (Or you can store things in plastic boxes...)