Hey Peepsies Garage For Sale How Much

[ukanonymous]

Hey peepsies so basically my oh has a 19m square 1 ground floor garage. How much do you think we should ask for it? The neighbors say they will pay like 4 or 5k. Yet if you look at say 200 pounds a square foot of land it should be worth 18k. We are not desperate to sell it. Any advice would be amazing :) thanks poos

[ukanonymous]

It's in leeds uk btw hehe :)

[ToraToraTora]

Is 19 metres square or 19 square metres?

[gingejbee]

^19 metres square wouldn't be a domestic garage...

[Ellipsis]

Is the garage near your respective houses, and do you both own your houses?

[bednobs]

is it in a place you could rent it? 19sqm is huuuuuge for a garage - could itbe made into anything else?

[bednobs]

of course i meant 19 msq is huge

[davebro]

I would estimate how much it might enhance the value of their property & ask for a sum based on a % of that.

My friend sold a 4 bed period country property for £525k. It has no garage but there is one (pretty derelict) on an adjacent plot. I reckon if they were combined it would add £40k - £50k.

[JJ109]

Is the garage part of your property and is that property subject to a mortgage? A mortgage lender may not allow a sale anyway!

[jno]

ah, if it was in Kensington you could start somewhere round half a mill

https://www.theguardian.com/money/2016/feb/17/chelsea-garage-sells-auction-south-kensington

But you could probably improve it with a six-storey basement with ballrooms, swimming pools and so on.

Leeds, though, I don't know.

[ToraToraTora]

"^19 metres square wouldn't be a domestic garage... " - 19 metres square = 361 square metres that's very big for a domestic garage.

[Ellipsis]

> Is the garage near your respective houses, and do you both own your houses?

Assuming the garage is near your houses, and you both own your respective houses, then base the price on the value it takes off your house or the value it adds to the neighbour's house, whichever is the greater.

Alternatively you could rent it out, rather than sell it ...

[ukanonymous]

your shed is 4.6 metres wide (front) by 4.2 metres deep (side).

It's in-between the neighbours houses... its a funny set up.. there are 3 people who want to buy it but only want to pay 4 or 5k.. no rush in selling it

[ukanonymous]

Daym peeps... I need to explain.. he had a house and a garage. The garage was in-between his neighbours house. He sold the hoise separately and we kept the garage and keep some stuff in it now. The person who bought the house wants to buy it for storage. But it is in-between both the neighbours ours so they would equally want to own it and expand... its a little complicated sorry

[naomi24]

4 or 5K? That can’t be freehold. It has to be on a short term lease. Get an agent to have a look.

[ukanonymous]

Yes that's what they offered freehold. To me it seams rediculous.... thats why I am asking here :) but thank you for confirming the fact I need to question it. We really do

[davebro]

//How much value does a garage add? Research carried out recently suggests that a garage can add between 5% – 10% to the value of your home. But that's just for a single garage.//

If their house is worth (say) £200k the garage could add 10 - 20 thousand to it's value. Assuming they will pay the legal costs & may have to do some structural work I would go with the lower figure - i.e. £10k. If their hose is worth more (or less) adjust accordingly.

[GlenB]

Why sell it if you don't need to? If you retain it, it is likely to increase in value over time - if you sell it the proceeds are likely to lose value due to inflation.

[Atheist]

4.6m by 4.2m is too small to be used as a garage.
You referred to it as a shed. Doesn't sound as if it would be worth much. More info needed.
I think you should approach estate agent for advice, someone who could view it and has some experience of property prices near you.

[THECORBYLOON]

Those dimensions give 208 square foot and you mention land being about £200 a sq ft so that would be £41,600 for land that area.

Where do you get your value of £18,000 from?

[Atheist]

Land price would depend on its development potential.This plot seems too small to construct a new dwelling, and that might be impossible for other reasons e.g.access, impact on other properties etc. If the plot can't be developed for profit, then it's not worth big bucks.