Apartment Car Parking

subpar

Thinking of buying an apartment in the city centre , however it does not come with a designated underground parking space.

Would welcome views.

whiskeyman

Where you gonna park if you've a car so?
What about visitor parking?
Are you going to need to rent car parking - cost Vs other apartment choice with parking?

subpar

Thats the sort of thing that bothers me. I think I would be able to rent a space at approx 100 euro / month.

But what really worries me is the resale situation.

odyssey06

If you're living in the city centre, as yourself do you really need a car? If you do need a car for getting to work \ visiting family, then I think you need to find an apartment in city centre that has a car park space attached so you have an idea of how much a space is worth.

subpar

From what I can make out the current value of a car parking space is about 25k but they are impossible to buy seperately.

I need a car so need a space, so I guess buying an apartment without its own parking space, even if it is discounted by 25k is not the smart thing to do.

ProudDUB

subpar wrote: »

Thats the sort of thing that bothers me. I think I would be able to rent a space at approx 100 euro / month.

But what really worries me is the resale situation.

Talk to an estate agent. They can probably give you a better idea on what it would do to the apts resale value. I lived in an apt (in the IFSC) that didn't come with a parking space. I then moved to one that did. I've been keeping an eye on rental and sales prices ever since & there doesn't seem to be a massive difference in apts with parking spaces, versus those that don't.

A lot of the residents where I lived, were foreign nationals who worked in the IFSC and over at companies like Google and Facebook. They could walk to work and they had no need for a car. So I guess a lot depends on where you buy. I'd say that apts would keep their value pretty well, if there are lots of large companies near by, where people could walk to work & wouldn't need a car. If it were down by Smithfield or closer to Phibsboro, that may not be the case.

Cushie Butterfield

If I were you I wouldn't buy an apartment that didn't have a designated parking space.

It's one thing renting an apartment without one but it's another if buying. You may not need a parking space at the moment but you may in the future (for yourself or a future partner/tenant/visitors etc).

While the resale value might or mighn't be affected to any great degree it would certainly be a deal crusher for many prospective buyers or even renters should you decide to rent the property out down the line.

Yes, of course you could pay to rent one at €100 per month if you needed it, but that's an extra €100 per month on top of your mortgage repayments and management fees.

If you bought one with a designated parking space & didn't need it you could rent it out to someone & charge them €100 per month, which would cover your management fees.

Swings & roundabouts really, & down to personal choice but my advice would be to look for somewhere else or if you particularly like the area/complex hold out until a similar apartment comes up for sale with a space included..