Is it worth buying a garage to let?

Most people thinking of investing in property to earn from letting it to private individuals focus on flats. Meanwhile, buying a garage to let may prove quite an interesting alternative.

Problems with parking spaces

Polish society has grown wealthy enough that most families own a car, sometimes even two. The number of parking spaces is also growing, but not necessarily at the same pace. The result is predictable – when someone comes home later in the day, they often have trouble finding a parking space. Unless they have bought a space in an underground car park (which some developers offer) or have a garage. Their own or a rented one.

So there is demand for garages to let. The question is whether there is also supply. If we look at the current market situation, it turns out that supply is much smaller than market demand. That being the case, the subject is worth looking into.

Is it worth investing in a garage to let?

Yes, if only because, compared with the cost of buying a flat, a garage is much cheaper. Keeping it in order also takes less effort. There is another advantage of such an investment too. With an unreliable tenant, the problem is much smaller than with flats.

READ ALSO – PARKING SPACE OR GARAGE – WHICH IS BETTER?

What to watch out for when buying a garage to let?

First of all, you need to check carefully whether the problem of access to parking spaces in the given area is actually serious. On the other hand, even if it is not, there may be people who are simply interested in protecting their vehicle from adverse weather conditions – and in that respect a garage is ideal.

You should definitely not buy blindly, on the basis of a favourable price alone.

You also need to take into account that if you cannot find a tenant for some time, you will still have to pay the tax the whole time.