Today we share a blog article from the US. It will interest Albertans because we already know the solid values in holding Edmonton real estate investments. This is from Nu Wire Investor http://www.nuwireinvestor.com/articles/garage-condos-offer-storage-and-investment-opportunities-52005.aspx
Garage condos may prove to be a blessing for condo-dwellers, homeowners looking to downsize and those living in developments with storage restrictions. These garages offer a permanent, owned space to buyers in need of off-site hobby and lifestyle space . They can also be put to use as extra recreational and business spaces, or serve as affordable investment real estate.
Many homeowners living in housing developments need to deal with restrictive covenants that limit the ways in which they can use their property. These restrictions may forbid the construction of storage sheds or refuse to allow the storage of recreational or non-working vehicles on the property. Some property owners simply live in small homes with limited storage space for larger items. And others may just not want to let their valuable collector cars sit in a driveway exposed to the elements. Whatever the reason, garage condos may offer a potential solution.
Garage condos are storage spaces that can be bought and sold in a manner similar to traditional condominium units. Owners of these permanent storage spaces pay dues just like traditional condo owners, which vary depending upon location and the company that provides the unit. Amenities like cable television hookups, controlled temperatures and shared clubhouses are offered by many garage condo associations. Read more here