Buying parking spots

[UrbanVigor]

I may very well be buying a new build and so far I'm not gauranteed a parking spot. But I get a feeling that they could offer one to me. We'll see, I guess.

If I'm not able to purchase a parking spot, when do they usually go on sale in the resale market? After registration? I don't mind putting it off, but I don't want to be left out either (especially since my car will need to be parked somewhere). Same with a locker.

 

[Kenny]

why would it be misleading .... it is part of the full SF.

Because if I see a listing that says 1 bedroom + locker (no knowledge that the locker is in the suite), I usually assume that the locker's square footage isn't included.

 

[cdr108]

Because if I see a listing that says 1 bedroom + locker (no knowledge that the locker is in the suite), I usually assume that the locker's square footage isn't included.

most buildings have lockers exterior to the unit, so the SF is not included.

i know what you're trying to say, but hopefully, this developer trying to pass off a walk-in closet/storage space as a locker, is an aberration and not a trend.

 

[KA1]

Ka1

Often the purchaser can make a "request" for a certain parking space, however it builder may not grant that request.

Determining the parking locations is a tough task, and a good builder will pay attention to as many facts as possible. In determining your parking location, a builder may look at any of the following:
- Random placement (I have not seen this done);
- Location of your suite to the most relevant elevator;
- Where is your locker (if purchased) being located;
- Price of suite (total)
- Price of suite (p/SF)
- Upgrades purchased?
- Loyalty to the builder (is this your first purchase with them?)
- Have you made a specific request?

 

[BlueCat]

Determining the parking locations is a tough task, and a good builder will pay attention to as many facts as possible. In determining your parking location, a builder may look at any of the following:
- Random placement (I have not seen this done);
- Location of your suite to the most relevant elevator;
- Where is your locker (if purchased) being located;
- Price of suite (total)
- Price of suite (p/SF)
- Upgrades purchased?
- Loyalty to the builder (is this your first purchase with them?)
- Have you made a specific request?

In my condo, the developer seems to have grouped certain risers together in clusters throughout the garage. I was lucky and got my spot really close to the elevators. Everyone who parks in my area of the garage lives in my riser. I can basically count the suite numbers off in the spots near me. As for my locker, they didn't seem to consider that when assigning me a spot. Locker is two garage levels above my parking spot which bugged me in the beginning but now I'm used to it.

 

[Eug]

If you're paying $50000 for a parking spot, you're getting ripped off IMO. If that is the normal going rate in a building, then I would saying everyone in that building is getting ripped off.

Often the purchaser can make a "request" for a certain parking space, however it builder may not grant that request.

Maybe not if you just "request" it, but the same rules for condos also apply to townhouse condos, even with connected small shared garages, and for this reason I put it into my purchase contract that my parking spot HAD to be the one connected to my unit, or else I wouldn't sign the contract. Period. After that the builder was quite happy to grant me that specific spot. YMMV. Some of my townhouse neighbours were not so lucky, because they didn't put that stipulation into their contract.

However, I bought in a balanced market, not in a sellers' market like it is now, so sellers can be a lot more rigid these days.

 

[Thesb]

for purchasers of new development condos with parking spaces, it seems like most builders include in the contract a clause that says it's up to the builder's discretion where the actual parking level/location is.

does anyone have any experience with how they actually determine your parking space? is it randomized? or is it based on first-come-first-served model? does the purchaser have any say in choosing a parking level?

Our builder just sent a letter to everyone - if you bought a parking spot ($25,000), for $5000 more you can have your choice of spots on P1 (close to elevators, lockers etc.) For $3000, you can have your choice on the other parking levels - first come, first served. From what I've heard, people are pretty annoyed at what looks like a blatant cash-grab a month before occupancy. Everyone had been assuming it was to be a lottery.

 

[zeeden]

Our builder just sent a letter to everyone - if you bought a parking spot ($25,000), for $5000 more you can have your choice of spots on P1 (close to elevators, lockers etc.) For $3000, you can have your choice on the other parking levels - first come, first served. From what I've heard, people are pretty annoyed at what looks like a blatant cash-grab a month before occupancy. Everyone had been assuming it was to be a lottery.

WHo's the builder?

 

[cdr108]

Our builder just sent a letter to everyone - if you bought a parking spot ($25,000), for $5000 more you can have your choice of spots on P1 (close to elevators, lockers etc.) For $3000, you can have your choice on the other parking levels - first come, first served. From what I've heard, people are pretty annoyed at what looks like a blatant cash-grab a month before occupancy. Everyone had been assuming it was to be a lottery.

what else is new !?!

 

[rbt]

Our builder just sent a letter to everyone - if you bought a parking spot ($25,000), for $5000 more you can have your choice of spots on P1 (close to elevators, lockers etc.) For $3000, you can have your choice on the other parking levels - first come, first served. From what I've heard, people are pretty annoyed at what looks like a blatant cash-grab a month before occupancy. Everyone had been assuming it was to be a lottery.

A lottery? Really? Isn't it typically assigned by suite value, with more expensive suites getting the better spaces?

 

[Eug]

A lottery? Really? Isn't it typically assigned by suite value, with more expensive suites getting the better spaces?

That's not the way it worked at my place. It was more due to location.

It doesn't make sense anyway. If Person A and B both paid $25000 for a parking spot, why should one get a better spot than the other?

I'm surprised they don't have more places with more of a range of pricing of parking spots. Key parking spots cost lots more, and annoyingly located ones cost less, and everything in between.

 

[MadMax]

Well if Person A paid 600k for his unit and Person B paid 200k for his suite, then I think Person A should get first dibs...

 

[rbt]

That's not the way it worked at my place. It was more due to location.

Location of the unit? Sure, if there are multiple elevator banks the "optimal" parking place is located to the elevator bank nearest your unit. Spaces with adjacent storage also have constraints.

Every building may be done differently, but in many cases the penthouse units have pretty good parking spaces on the 1st floor of parking and the ground floor bachelors have not so great spaces.

 

[BlueCat]

I suppose it also depends on what one would consider a good parking spot. Sure being close to the elevators is a given but I personally wouldn't want to park on P1. It's usually where all the visitor parking is and the busiest and sometimes it's hard to get out of your spot if it's located on/near the main driveway, etc.

A good spot to me is one by a wall or a pillar/pole so it minimizes door dings by neighbours and a wide spot. I've seen condo garages where some poor person gets a really narrow spot or the spot is in a really awkward position and it must be a nightmare to get in and out of. So I guess it depends on what you consider to be important when choosing a parking spot.

I park on P3 in my garage and it's the lowest parking level. I like it because I have a wide spot, by a wall and a pillar, it's close to the elevator and it doesn't have the membrane on the floor so it's brighter down there.

After saying all that, I can't believe what a nerd I am for even thinking of all that stuff

 

[Tacoma]

Well if Person A paid 600k for his unit and Person B paid 200k for his suite, then I think Person A should get first dibs...

But, as Eug says, if both Person A & B paid the same money ($25K) for a parking spot, then they should have equal opportunity at getting the best spot. The cost of their condo unit is separate and independent of the parking spot so it should be irrelevant in this case.