Client Question of the Week – How Difficult is it to Buy or Rent a 2nd Parking Space?

“How hard is it to purchase or rent a second parking space after you buy a condo with only 1 parking space?”

Dear needing a 2^nd parking space:

It does really depend on a few factors such as how many people in the building don't have a car (and therefore don’t need their space), or whether it's a building with a lot of two bedrooms that allowed owners to buy second parking spaces back when a building was built, and lastly if the condo is in a location where lack of street parking is even an issue.  And yes, having a larger building can help provide more possibilities but that also means that if the building you are buying in is in an area with slim pickings for street parking and/or has paid parking only (Downtown, Belltown, parts of Cap Hill, Fremont, etc.), than more people will also be looking for an extra parking space to rent or buy in that building too.

In general, I would say it’s a fairly small chance to find one right away when you buy a place and first move in, but if you’re patient, there is a pretty high likelihood that someone in the building will eventually have a spare spot they are not using that they would be open to renting or potentially even selling.

I hope that helps!
Marco

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.