I own a 2 br investment unit with currently one carpark – the owners corporation (10 units all together) want an extra carpark for every unit. The catch – a cement slab with 3 carparks will be constructed right outside my unit – there is a grass area at the moment (common property) . Will this increase the value of my unit by having the extra carpark or would it decrease the value via extra noise, asthetics etc?Would really appreciate feedback – thank you.
One point to note – there is plenty of onstreet carparking. My unit is approx 50- 70 metres from street.
Cheers WoodinatorHi mate…
Generally speaking… adding an additional carspace to your unit title would INCREASE the value of your property…
Extra noise should NOT be a problem…
However if this obstructs your view for example,
then this might be a problem.It sounds like a POSITIVE move to me.
thanks Contrarian for getting back to us, have searched the forum on this and no real relavent posts on adding a carpark yet plenty on purchasing etc for investment. I think it will also be a positive although my wife disagrees hence we put it to the forum. Anyone else out there with a comment. A quick yes for add value or a no for decrease value is all we need.
Thanks again,
WoodinatorI think it will add value on paper i.e for the banks valuation but will detract from tenants wanting to live there. I know i wouldnt want to live in a house where my front door was used as a parking space for others. if it was my parking space that would be a different story.
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