Real Estate

Parking Spot-Good investment idea??

  • Last Updated:
  • Oct 5th, 2021 6:46 am
[OP]
Sr. Member
Aug 9, 2020
851 posts
460 upvotes

Parking Spot-Good investment idea??

Hi there, we have a chance to buy a parking spot at $100K for our pre condo unit downtown in King West before it closes in the next month or so. Currently in occupancy period and being held for investment.

Is this purchase a good idea for investment purposes ?

Thanks in advance.
1 reply
Deal Addict
Mar 2, 2017
3115 posts
5962 upvotes
Toronto/Markham
You have to look at this in a few different ways. As an investment at that price it's likely that it's not worth it.

However if this is a bigger unit like 2B then I consider picking it up because it will make the unit + parking much easier to sell/rent in the future. You also have to consider if the building has scarcity of spots or not. For a 1B, no chance.
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