Quote:
Originally Posted by kikin
there is also future resale value though, we bought a condo that includes a parking stall even though we have no vehicle. In the meantime we are renting it out for $200 per month and when we decide to sell our condo will be easier to sell and will fetch around $50k more resale price
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Maybe, maybe not. In the meantime you're making a 4.8% return (before the taxes you declare I'm sure.)
It's fine, but it's also fine to save that $50k today.
I rent parking and storage lockers. Storage lockers return much higher returns IME. Buy extras in your building if you can.
On parking, I find a lot of demand in a new condo in a dense area as people move from other areas with parking. Over time this wanes as the new area is much more walkable and transit friendly. People adapt and new renters often come without vehicles.
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