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New condos in Powell just for cars


Dharris89

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. If I had this type of money to spend on car storage, I would already own a house/property that had the storage I need or the room to add it.

 

 

I used to say that...and then I realized that I hated everything that came along with home / property ownership.

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It’s not for everyone, but it’s the perfect time for that right now. Economy is booming, we are living in the golden age of “the car guys”, property in Columbus is skyrocketing, I think it’ll do well. To me, it’s more of a country club for car guys with money.
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I used to say that...and then I realized that I hated everything that came along with home / property ownership.
"Maybe" you have the money to have someone take care of that for you? ;-) I get you though, we have an old house with a couple acres and there's always something that needs attended to.

 

We definitely all have different interests, priorities, etc. It just isnt something that would work for me, but it only takes a few dozen people that it works for to make it a success.

 

Sent from my SM-G970U using Tapatalk

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I like the idea, it's cheaper for me at the moment to have access to space like that then move to a new place in this current housing market within city limits........don't have room to add a garage at the current house. It's a reasonable option to me. Plus it's a condo, so it's an asset.

 

We are looking outside 270 and it's tough to find something in our price range ($300K max) that already has a substantial extra building that is ready to just start slamming cars and lifts into......

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Dude...typos/grammar on the website. :no: What is "Horsepower Famrs"?

Bob Evans - Down on the Famr...

Pepperidge Famr remembers...

 

 

To Andy's point, though...I could see someone that lives in an apartment or downtown - where parking spots are now $200+ a month, let alone a garage - being very attracted to having a garage they own that's fully kitted out with all of their toys, and they can go up on a Friday after work, wrench, get a shower and watch a movie at the Clubhouse, sleep overnight, and wrench some more in the morning....and the clubhouse/bathrooms are maintained by the association.

 

That does sound pretty attractive, especially if it was the wintertime, or I was single with an automotive hobby.

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I can see value in the idea. I live in the burbs where zoning regulations won’t let me put a decent size building on my property. I’m reasonably close to Powell.

 

The real question is how will the value hold up over time? If I spend $150k building a sweet man cave and storage and it’s still worth $130k-ish in 5-10 years when I want or need to sell it....that’s pretty reasonable and likely less than I’d have to pay to build a garage on my own property. But if it’s worth $75k at the end that value proposition goes out the window.

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that’s pretty reasonable and likely less than I’d have to pay to build a garage on my own property.

I'd rather build a garage that I can walk to, not drive to. It's also a pretty major improvement that will raise your property value.

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There is one being built on Orange Rd and 23. The sign went up a couple weeks ago. I agree with what others said, I would use the money and build a barn or upgrade to a property where I can enjoy my hobby at my house. It takes too much time to drive to another location, when I can just walk out to my shop.
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Interesting but....

 

$120K buys an empty box. To build some of the garages they show, double that +++

 

After the buy in, $100+ per month "condo fees" plus property taxes.

 

Still is interesting due to zoning and the fact you can't build something that size, that close in most areas.

 

Long term value - could go up - could go down.

 

Depending on use (if just storage, what's the cost for similar enclosed storage to rent)?

 

Given the current cost of commercial property anywhere outside "the hood" it could still be attractive.

 

Still looking and thinking......

Edited by craig71188
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I'd rather build a garage that I can walk to, not drive to. It's also a pretty major improvement that will raise your property value.

 

Unfortunately not likely a return on investment in my neighborhood. Even if I could build another garage it would take up a lot of the little lawn space I have and that would turn off most potential buyers. #suburban problems. I knew this going into our purchase and accepted it as the home was right for our family otherwise. Thankfully my wife is great and has given up her garage spot for go karts this year. Lol.

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As the people who buy these should already have enough money to justify their toys, I'm not sure what this would qualify for from a loan/mortgage standpoint: it's not an investment property or second home, and it's not on your primary residence property so I don't think a HELOC could help someone fund the purchase of this.

 

Is there a captive-finance group providing loans to potential buyers?

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As the people who buy these should already have enough money to justify their toys, I'm not sure what this would qualify for from a loan/mortgage standpoint: it's not an investment property or second home, and it's not on your primary residence property so I don't think a HELOC could help someone fund the purchase of this.

 

Is there a captive-finance group providing loans to potential buyers?

 

Most will probably just pull a 3% 144 month loan on their GT2RS.

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If I had the Money and no kids, then I would live in a place like this for sure!

 

Only problem, is that from the pictures, it looks like they would frown upon actually "working" on the car with parts and drills... or is it just me?

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