How much did you pay for your additional car space and/ or storage cage?

Hi all,

Weighing up whether to purchase an additional car space and 3m2 storage cage. For context it is an OTP apartment, 9km out from Sydney CBD.

I’ve been advised an additional space is approx 50,000 but I have not been advised a price for an additional 3m2 cage.

So out of curiosity, what are real life examples for these to assist in the decision making process?

Cheers,

 

pay 75k in zetland around 7 years ago,

also where is 9km out from sydney ?

currently can sell for 125k, first ask if its separate title if yes, going to be worth more than if its attached to your apartment because you can sell it to someone else,

usually that someone else is going to need to already own in the complex.

if u have the money, just buy the car space,

you do have to pay more strata for it, but if you are borrowing to buy the property, you can rent it out and it should offset your interest payment if you are not using it,

its a no brainer imho

 

Most storage cages are put at the rear of the car park bay, so likely to be included in the $50k quoted.
Check still.
As above, seperate title if possible.
$50k isn't bad, all you have to do is look at the advertised price difference between a 2/1/1 and a 2/1/2......
Then when you decided to proceed "make an offer"
Remember, OTP can be a long term frustration

 

OTP storage often disappears or has restricted access and utility eg major pipes through it.

If it is a separate strata lot, then it may also attract a separate set of council rates (minimum charge).

Will the carspace adjoin the one assigned to the unit or stuck in the bowels of the building?

 

I've had a look at the plans and it appears the storage cages are in their own enclave, separate to the car spaces.

Also, car spaces have not been allocated but yes, I would ensure they were adjacent each other at the very least. Spaces are all AS2890.1 compliant so I'm not too concerned. They are also providing the option to convert one to an electric charge point for electric cars

We are not too stressed about timing whether it be 6 months early to completion or 24 months late so that bit is all good for us.

I'll take a look at the proposed titling, thanks for the tips.

 

The last and only time I bought OTP we were told we would get a "storage room", it was just a cage at settlement........

Paying extra for an additional space might get you a better spot in the basement, but I wouldnt sign for anything until I can see plans with designated and numbered parking bays so you know exactly where and what you are paying for.

Nothing worse than having to spiral down 2,3 or more levels to spend 10 min trying to get back out again, particularly when someone stops near the lift to unload their groceries and blocks the driveway

Great forward planning to consider a charging point

 

I would be trying to get a parking spot that is easy to reverse a large car in and out of (ideally a parking space you can drive straight in and out of, not a spot that requires a 10 point turn).

 

I think we will go ahead with the carapace purchase, I was able to knock this down another 10k. No allocations yet though but I will confirm they are adjacent. The basement plan isn't too concerning after my review of it. Sure there are ideal spots but if I don't get those, I wouldn't sleep over it..

To go into this a bit deeper, it is in an apartment complex between Lane Cove and Chatswood.

No additional cages though

 

Good advice: mine is next to a concrete pillar and I can't help feeling that it's only a question of time ... Two side by side is even better: when I first moved here I was struck by the number of people who had no idea of how to park. Then I realised that they were unit owners with one car and two spaces, so parking semi-diagonally stopped anyone else trespassing and saved the need for careful manoeuvring.

 

Hi all, just circling back here the storage cages were $15k for 3sqm for anyone interested.