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No Garage - Deal breaker? VIC

Discussion in 'General Property Chat' started by Jonno Yeo, 6th Aug, 2016.

  1. Jonno Yeo

    Jonno Yeo Member

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    Just want some opinions, in Coburg North in Victoria, would you say no garage would be a deal breaker for you?

    Townhouse ~$750k, has a car park space on property, just no garage.

    Yes, no?
     
  2. Joynz

    Joynz Well-Known Member

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    Yes, a deal breaker - but depends on rest of the street and target tenant market. For example, in some areas of Melbourne garages in older houses are very uncommon.

    In any area, a garage will add value to a property, but not having one in a specific area may not decrease value...

    Is there a lot of on street parking? Will your demographic have an expensive car? Will they be tradies with valuable tools in the back?

    My POPR has no garage and I wish I had known then what I know now....
     
  3. Jonno Yeo

    Jonno Yeo Member

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    Yeah, ie. say richmond it's all on street parking, but that's richmond and this is Coburg.
    There is a lot of on street parking around!
     
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    It's a stones throw from town - any offstreet parking is a bonus. You get what you're paying for - if you've got a mindset that you need a garage, you'll need to stick your hand deeper into your pocket.

    • Is a garage going make it easier to lease, reduce vacancies, provide a better rate of return and provide more capital growth?
     
  5. Big Will

    Big Will Well-Known Member

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    If I was living in Coburg I would expect a garage.

    Not having one will reduce the appeal of the property but everything always has its price.
     
  6. kamchatsky

    kamchatsky Well-Known Member

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    It really depends on the other factors as well, such as number of bedrooms, the newness of the property, location to shops/station, body corporate cost etc.
     
  7. albanga

    albanga Well-Known Member

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    Deal Breaker at that cost and suburb but more than anything because it's a townhouse.
    A lot of people don't have a garage for a car anymore, they have it for storage.

    Think about it, houses and land are becoming smaller, the days of large sheds in sought after suburbs are going but people still need to store things.

    On the flip side cars are becoming cheaper, more resilient to the weather, more secure, easier to park meaning less reliance on the old CAR garage.

    I am building a townhouse now and have 0 intention of EVER parking my car in it.
     
  8. Big Will

    Big Will Well-Known Member

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    Storage is one thing but also some people their car is their most valuable asset.

    I prefer to park my car undercover even at the staff car park there are some that are undercover and others are out in the open. I always try to park undercover and I don't like parking in the sun.

    Depending on councils regulations some enforce car parking spaces per home as there isn't enough streets to park all the cars and streets are made for driving and not for storage of cars.
     
  9. albanga

    albanga Well-Known Member

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    Yeah I guess my argument loses value when you consider how I care for my possessions. My iphone has had a cracked screen for 1 year, my car I purchased 1 year ago has been washed once and my laptop has just died. haha
     
  10. MTR

    MTR Well-Known Member Premium Member

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    I think it would be very much dependent on the area/location/price point.
    I just sold 2 townhouses without garages, FHB market, no issues whatsoever, but I expect the higher the price point the scenario would be different.

    Easiest way to find out whether this would impact when selling would be to contact re agents in the area and find out what buyers want and what sells. To a point will be limit your market.
     
  11. paulF

    paulF Well-Known Member

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    I would think it is a deal breaker for me in Coburg for a property not to have a garage.
    Didn't realise that townhouses where going for that price point in the area!