Why do you need a Garage?
Everyone knows it’s hard to find a parking place in densely populated locations and town centers. The first question a buyer asks is the availability of a lock-up garage or parking space. There has been a surge in car importations in the last decade, and most families have two cars. More luxury cars have been imported and populate our streets. That has led to an increase in demand for parking facilities by property buyers. Many people own an expensive vehicle that they want to keep in good condition. If you are selling your property, it could be a deal-breaker. If you do have one, well and good, but what if you don’t?
What can you do if your Property doesn’t have a Garage?
If you happen to reside in a densely populated area, the chances are that there are a few new apartment blocks under construction in your location. Larger blocks, in particular, will have several lock-up garages and car spaces available in the building. There may be a few for sale, as not every buyer in that block will have bought one. Buying a parking space for €20,000, or a lock-up garage for €30,000 can boost the value of your property considerably. Investing in parking facilities to offer with your property will increase the selling price by far more than the price you pay for the parking space or garage.
A Prerequisite for many Property Buyers
Without a garage, your property is at a disadvantage when compared to the competition. You will automatically be eliminating a large chunk of buyers who won’t even view a property unless it has one, no matter how much of a bargain it is. Lock-up garages are a must for buyers who own more than one car and those who own expensive luxury vehicles. Any sort of parking facility adds value to your property whether parking is a problem on your locale or not.
Double Benefits
Not only will a parking space or garage increase the value of your property, but you will struggle to sell it at its market value. Luckily, there are options for you to consider, such as buying a space or lock-up garage in a block near yours. There may be stand-alone garages for sale that aren’t overpriced. Even buying one at €20,000 might make sense if your property is in the €250,000 to €300,000 price bracket. Without one, your property is worth less than you think. You need all the advantages available to sell fast, and parking space is top of that list. It doesn’t need to be a street-level five-car lockup garage, although that would be the ultimate benefit for prospective buyers. A car space in a block of apartments nearby will do. At least you can then market your property with parking space and not lose out to the majority of buyers who won’t see a property without one. We have an extensive database of such options that will increase the value of your property and enable you to sell it faster.
