Cass6561, Home Buyer in Northampton, PA

I am looking to buy a property that only has on street parking. Is this going to be an issue when we look to sale in the future?

Asked by Cass6561, Northampton, PA Mon Oct 19, 2009

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Jennifer Tom…, Agent, Princeton, NJ
Mon Oct 19, 2009
Will buying a property without off street parking hurt your future resale potential?

Possibly....it really depends on the area in which you are buying.
If you are buying in an area where most people park on the street it won't hurt you as much. However, if you own a property WITH off street parking in this scenario, it is probable that your house will sell more quickly, and potentially for more money.

The other thing to consider is where the property is located. Is the property located in a busy area where it is difficult to park near your house, or is it a quieter section of town where you can readily find a spot?

This scenario is typical for the City of Lambertville. The majority of the properties in town are row homes and very few have off street parking.

Good luck in your home search.
Jennifer Tome
Keller Williams Real Estate
Licensed in NJ and PA
0 votes
Dan Chase, Home Buyer, Texas City, TX
Mon Oct 19, 2009
Others will have different answers.

I would not buy it. No room for my car means I am in trouble. Many others agree with me. Some do not care.
0 votes
Sean LaSalle, Agent, Macungie, PA
Mon Oct 19, 2009
Cass- yes it could be. I would ask your realtor to show you recently sold homes with off street parking vs on street. He or she should be able to make adjustments like an appraiser would, one of those being for the parking. You will see a difference. So you should pay a bit less for a home with no off street parking. When it comes time to sell, it will be a deterent for most buyers if there are similar priced homes that have it. Again, ask your realtor. If you do not have one, feel free to contact me.

Sean LaSalle
Weichert Realtors
610 737 5369
Slasalle@weichert.com
Web Reference:  http://www.seanlasalle.com
0 votes
Patrick Thies, Agent, Anytown, IL
Mon Oct 19, 2009
Depends. Is this the only house that has street parking only? If this is common for the area, then it shouldn't be a problem. If it's a rarity then it could be a factor.
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