Houses are expensive. The average house price in the UK is £175,000 but how much is parking your car worth to you? And how much is storing your belongings in your garage costing you?
Modern developments, often in a desperate attempt to get as many houses onto a development as possible, tend to offer minimal car parking space. The result of this is that car parking can cost a pretty penny, particularly in densely populated areas.
Many families do not use their garage to keep their car, instead packing it with garden furniture, tools and lawnmowers. But how much money could you make from a bit of smart planning and possibly investing in a small storage locker (available from as little as £6 per week, so that’s still only £1312 per year)?
In Kensington, where house prices tend to be around seven figures, two garages in the same block have gone up for sale. Their combined asking price £400,000! More than the price of a detached house in many parts of the country.
The garages, situated on Stanhope Mews NW7, where two bedroom leasehold flats are bought for just short of a million pounds, can accommodate two cars. One of the garages is currently being rented out for more than £6,000 a year.
Inhabitants and garage owners on Stanhope Mews, or indeed in London could be £400,000 worse off for the privilege of storing their belongings in their own garage, or looking at it another way, maybe by de-cluttering your garage space and renting it out, you could be making up to £6,000 a year extra income! What better excuse can you find to get those boxes out of your garage?