Should you buy parking and a locker with a new condo?
In many new GTA condos, parking and lockers are sold separately, and they are often limited.
Parking: when it pays off
- You drive, or a future buyer or tenant in that area would expect to.
- The building is outside downtown, away from a subway or GO station.
- Larger units (two bedrooms and up) where families are the likely buyers.
When you might skip it
- The building sits on a subway or major transit line and most residents do not drive.
- It is a studio or small one-bedroom for an investor targeting students or young professionals.
- Street or nearby paid parking is easy.
Lockers
A locker is cheaper and adds practical value, especially for smaller units without much storage. They are often hard to buy after the building is sold out.
Check the details
- Is the spot owned (a separate unit) or exclusive use?
- Does it come with an EV charger or rough-in?
- Monthly maintenance fees on the parking and locker units.
- Can you sell it separately later, and to whom (often only to owners in the building)?
Book a call to discuss whether parking makes sense for your unit.
What does this mean for you?
Book a free 15-minute call and Dinesh will walk you through how it affects your plans.
