Buying an additional car park slot in an apartment complex: Worth it?

Most people buy a Royal Enfield in their mid-life crisis. I am trying a buy an additional car parking.

BHPian rohan_iitr recently shared this with other enthusiasts.

Hi Friends,

I have moved into my new apartment a few months back and I am facing the dilemma of buying an additional car parking slot.

I have been allotted a covered car parking in the basement (-1 level). The apartment has 2 basements (-1 and -2).

My existing car is about to be 15 years, hence the itch to upgrade. Also, my wife has shown interest in learning to drive, hence I want to buy an automatic/automated car now.

The problem is that my existing car, even though 15 years old, is in excellent condition and I don’t want to let go of it for a meagre sum. Hence the need for a second car parking slot.

When I checked with the builder about purchasing a second car parking slot, he mentioned that he doesn’t have an independent parking slot available. But he can sell me a double car parking slot and I would have to surrender my existing parking slot.

The double car parking slot is not parallel, but sequential. This means – the cars would be parked one behind the other. To remove the inner car, one must first remove the outer car.

The price quoted for such a parking slot is around 3L+taxes. (Builder will sell me this parking slot legally with registration) This is over and above the price which I have already paid for my existing parking slot.

Please help me with my dilemma:

1. Is it practical to have sequential car parking in an apartment? (I will be using one car to go to the office – 9 to 5, Monday to Friday. So the other slot would generally be easily accessible for my wife.)
2. Is the price of the double car parking slot justified? (This is a good locality, at walking distance from IT park. Builder is quite reputed.)
3. Am I being a fool in trying to hold on to a 15-year-old car? Does it make more sense to just buy one bigger and better car?
4. My current usage doesn’t really call for having 2 cars. My office is only 3 kms from my apartment and my wife doesn’t really need a car for herself. (But I want her to learn to drive and be independent)
5. The apartment association has started a drive against residents who are parking their second car in the visitor parking slots. Such cars are being locked and fined.

Most people buy a Royal Enfield in their mid-life crisis. I am trying a buy an additional car parking.

Here’s what GTO had to say on the matter:

Golden rule = When real estate is well priced, don’t even think twice. Especially in big cities like Bombay, Bangalore, Delhi, Chennai etc. It will only appreciate. More importantly, you will definitely find a use for it. My Dad bought our current building with 8 parking spots when he had just 2 cars. Today, we own 5 cars, and there are always additional needs due to the press/media cars.

3-lakhs for a parking spot falls in the “don’t even think about it” category. Just do it.

Here’s what BHPian androdev had to say on the matter:

Absolutely go for it. Even if you don’t ever plan to keep a second car. If you ever find yourself renting or selling the apartment, 2nd car park will help immensely. The price also seems reasonable. To be honest, most apartment owners consider it very lucky to get an extra parking slot – the demand far exceeds supply in most cases

Here’s what BHPian Vid6639 had to say on the matter:

I have the same parking setup in my apartment. 2 cars back to back.

I have had no issues.

I keep the daily errands car in front and the less used one at the back. Hardly takes 3-4 mins to swap the cars around.

I have 4 parking slots in 2+2 format. Sometimes I end up taking the car I didn’t plan if in a tearing rush but usually not an issue.

You can comfortably go for it.

Here’s what BHPian Chetan_Rao had to say on the matter:

A most critical point.

Even if the slot dimensions can hold two full-sized cars, manoeuvrability in & out of the slots often becomes a limiting factor.

One should be able to park, exit or swap the cars around without blocking passageways and needing to do car-gymnastics beyond a reasonable time/effort limit.

Two independent (even if not adjacent) slots are worth it, even at a premium. It pays for itself in convenience, in the long term.

Keyword: Buying an additional car park slot in an apartment complex: Worth it?