I am negotiating to buy a house with no car accom. Has anybody ever built a double carport with a concrete pad and drive. What sort of money ? I feel tenants would see it as a must . John
John Groeneveld
Hi John,
A carport can vary in cost for numerous reasons, different people, materials used, state!!!
I have bought IPs with, and without, car accom. in the past, and generally, if it was without and I decided to add it later (for value) a cheap exercise would normally cost approx. 4k (or thereabouts) just for a carport, unattached to the property. To recoupe this money, I would raise the rent approx 10 p/w, and within a year the carport has paid for itself and then some!!!
I remember once, looking at two IPs which I was having trouble deciding on. One had car accom and was priced at 280K, the other did not as was priced at 250K, which do you think I bought??? That’s right, and it rented for $10 p/w less because it had no car accom.
As we discussed over the phone, the 7k you were talking about, does not have to be spent now, and because the property is in close proximity to all amenities, I seriously doubt that I would do so ATM. Perhaps later down the track; certainly when there are tenants in it!!!
Hope this helps,
Jo
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