MegaSack DRAW - This year's winner is user - rgwb
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got a garage, outside my garden, with one wall making up part of my boundary.
i dont use the garage at all. been approached by a neighbour, asking me if i want to sell it.
normal concrete/dash slab building, up and over door, and a roof that leaks.
anyone have a idea on a price
Be careful, renting may be a better option and protect the value of your home
Depends where it is surely. Lady I work with just sold her single garage for ~£100k.
It all depends on location and local on street parking issues.
Personally I wouldn't sell it, it adds value and saleability to your home.
I would rent it out, however, you will have to maintain it then and fix the leaky roof.
My dad's in a similar situation but with a garage at the end of the road. Large double with metal door but no electrics. Parking's a premium there and he has another double (narrow, one car behind the other. Anything wider than a Fiesta is a squeeze) on the side of the house. Been offered well over £35k for it but he won't sell as it adds a LOT of value to the house. Ask an estate agent for an idea of value as it is very dependant on your area.
Are we talking about the building or the actual plot and building?
As above, if you sell it would be a real ballache if you ever need to sell your house, plus there would be a chunk fees associated with changing the title deeds etc.
If you don't have the cash to hand to do up the garage yourself then you could enter an agreement with him that he can rent it for X length of period at a peppercorn rate of rent providing that he does certain renovations to the garage. Find a template agreement which both parties sign etc, it'd go both ways, i.e. you would need to give him notice if you ever want to boot him out and would need to pay him back for renovation cost pro-rata if you break the agreement within the pepporcorn rate period.