Real Estate

Buy 2nd condo parking space?

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  • Jan 17th, 2022 6:39 pm
Member
Oct 27, 2013
343 posts
94 upvotes
MISSISSAUGA

Buy 2nd condo parking space?

Do you see value in buying a 2nd parking space in your condo?
11 replies
Deal Addict
Jan 19, 2008
1682 posts
1579 upvotes
Etobicoke
Is it near a subway/transit?
Moderator
User avatar
May 27, 2007
16088 posts
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Toronto
Abacus1010 wrote: Do you see value in buying a 2nd parking space in your condo?
This is such a vague question. There's not enough information for anyone to provide you with any valuable feedback.

Until you answer the questions below, the answer is yes or no.

How big is your condo unit? Location? What's the maintenance fee? Cost for the second spot? Rental price of parking spots in your building? Are you keeping or selling the condo in the next 5-7 years...?
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Member
Oct 27, 2013
343 posts
94 upvotes
MISSISSAUGA
AcidBomber wrote: This is such a vague question. There's not enough information for anyone to provide you with any valuable feedback.

Until you answer the questions below, the answer is yes or no.

How big is your condo unit? Location? What's the maintenance fee? Cost for the second spot? Rental price of parking spots in your building? Are you keeping or selling the condo in the next 5-7 years...?
That’s excellent.
Member
Oct 27, 2013
343 posts
94 upvotes
MISSISSAUGA
xxxray wrote: Is it near a subway/transit?
No. It’s a 15 min walk away from subway line…in the fashion district. And no other units in the building have 2 spots.
Sr. Member
Jul 4, 2018
526 posts
468 upvotes
Abacus1010 wrote: No. It’s a 15 min walk away from subway line…in the fashion district. And no other units in the building have 2 spots.
In downtown one parking spot itself is sometimes not necessary, now we are talking about 2nd
Deal Addict
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Apr 29, 2010
1625 posts
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GTA
No it’s terrible. Just rent a spot if you need.
Member
Oct 27, 2013
343 posts
94 upvotes
MISSISSAUGA
Lavaris1 wrote: In downtown one parking spot itself is sometimes not necessary, now we are talking about 2nd
I know. Now. This will all be dependent on whether the world returns to being in the office or whatever else office work looks like after Covid.
Sr. Member
Jul 4, 2018
526 posts
468 upvotes
Abacus1010 wrote: I know. Now. This will all be dependent on whether the world returns to being in the office or whatever else office work looks like after Covid.
My quote is for pre COVId only
Not sure what holds for post COVId
Deal Addict
Aug 9, 2020
1400 posts
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What are prices out there for parking spots right now in downtown GTA? Is it worth it to buy a parking spot?
Deal Addict
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Apr 12, 2013
2924 posts
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Moon
Stupido wrote: What are prices out there for parking spots right now in downtown GTA? Is it worth it to buy a parking spot?
average project is about 100k, something like concord sky is 180k.
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Member
Jan 27, 2018
203 posts
201 upvotes
Stupido wrote: What are prices out there for parking spots right now in downtown GTA? Is it worth it to buy a parking spot?
depends on location/building? but 100k is usually a good estimate.

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