I live in 1980’s estate and my house has a garage in a block nearby. I use my garage a lot and my neighbour doesn’t use their garage at all (as witnessed by the bush growing infront of it) so I was going to ask them if they’d like to sell it. I’ve then got a double garage and they have some money to put towards their wedding.

I’m therefore asking if there’s a rule of thumb for valuing a garage?

Is it a % of the house price, or is there an accepted price in a locality?

Any experience welcome!

DAVE

I’d imagine it will be whatever the difference it will make to their perceived house value + a bit.

Are there any similar houses around without garages that you could use as a comparison?

Dave

Why not ask en estate agent to come and do a valuation on your garage as you are “thinking of selling it”

If they are local, and know the area, they won’t actually come out to value it I wouldn’t expect, they will just tell you how much they think it would be worth.

Is the garage Freehold or Leasehold?

depends where it is. someone I know has just sold one in Dartmouth for £60000.

you would pay 60k for a parking space in some parts down this way (west cornwall).

They can be quite a bit. Do a lot of work with HA’s that buy up old garage courts and build bungalows on them.

Cheers guys.

The house is a freehold.

I’d thought about going into the Estate Agent and asking them if they had any for sale in the area to gauge a price but hadn’t thought about doing it in reverse.

I don’t think it’s worth £60,000. If it is then the ‘house’ was a bargain!

DAVE

gavtheoldskater, st ives?

http://www.guardian.co.uk/money/blog/2012/nov/29/car-park-st-ives-hourglass-society

i think when i looked into on websites there was a formula that was like, monthly rent x 60 to give you a guide figure on purchase price