purchasing single car parking garage

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paulie

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I'm interested in purchasing a block-walled detached garage from a neighbour.
It's roughly 3x6m and currently part of the neighbours property (at the very back) but connects to a laneway shared by multiple houses.
It's not adjacent to my house and is in a built-up area.
The neighbour has agreed in principle.
Honestly, I don't know anything about what's involved, I imagine it would require a solicitor to do up the new deeds and carrying out conveyancing which would cost more than €1k.
Can any wise souls on this forum point out any catches or gotchas I should be aware of?
Since it's not a residence, I don't think I'd need to pay recurring taxes like property tax on it?
Before I start paying a solicitor, should I do any research or homework first? Thanks.
 
The title will have to established on the sellers property, then a division made for the sale of the rear portion, assuming no planning or retention required for the garage , assuming no lender is involved that'll mean maps having to be drawn, solicitors fees, stamp duty, registration , it will run to several thousand euros before you pay him, you would really want to have it.
 
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Some great advice, much appreciated.
Renting might not be an option at the moment, agree it would be simpler.
I'm now thinking long and hard about this.
Another thing I hadn't considered, how hard this would be to sell in the distant future or if circumstances changed.
Erring on the side of passing on this thanks to the suggestions here. Cheers folks!
 
In addition to the great advice above, check if you could even get insurance cover for if once you've bought it. It might be difficult if it's not adjacent to your own house.
 
RedOnion said:
In addition to the great advice above, check if you could even get insurance cover for if once you've bought it. It might be difficult if it's not adjacent to your own house.
Click to expand...
Didn't even think about insurance, good point!
 
Paulie

How much are you paying for it?
If you can afford to buy it, go right ahead.

If it's in a built up area, I am sure that others will want it if you don't.

If you are selling your own house in the future, it's very likely that a spare garage would enhance the value of your house.

What would you be putting in it that would need to be insured?

Brendan
 
Hi Brendan, thanks for the alternative perspective.
I'm not sure about how the garage could be included with my house sale.
As disconnected land; might that be complicated from a mortgage perspective for a buyer?
Agree that including a garage wouldn't hurt otherwise!

Thinking about it, I would want to put insurable items in it (bikes and the like for now, and a car in future).
Although, I think cars are typically covered by their own insurance, not that of the property.
Maybe could do the same with bikes and leave the garage uninsured.

Price hasn't been decided but it's not the primary concern.
I suppose it boils down to convenience of having the garage versus all the paperwork buying,insuring an unusual plot.
Lots of food for thought, thanks again.
 
Would you need electricity? A separate connection and meter would be required.
 
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