For those who live on the Monterey Peninsula, this is a little slice of heaven on earth. And not surprisingly, the real estate values reflect that. Just look at these sales prices:
Carmel Valley • Median Sales Price $980,000
Carmel • Median Sales Price $1.35 million
Pebble Beach • Median Sales Price $1.53 million
Data: Carmel Realty Company, November 2017
So, if you’re thinking about building or expanding your home’s garage, stop. There’s a better way to get the garage space you need — at Monterey Motorsport Park, adjacent to the Monterey airport.
Let’s take the village of Carmel By-the-Sea. According to information compiled recently by Carmel Realty Company, the average value for homes in Carmel works out to $1,159 per sq. ft.
So, if you have a 4,000 sq. ft. lot with a 1,500 sq. ft. home on it, and you’d like to build or expand a garage, you’ll be allocating a bit more than $1,150 per precious sq. ft. to where you park your cars and pack your personal and/or business items onto shelving.
Compare that to investing in a spacious garage-condo at Monterey Motorsport Park, located right off Highway 68 near Monterey Regional Airport. The 88 one-of-a-kind garage units ranging from less than 700 sq. ft. to more than 4,250 sq. ft. at this upscale car-oriented community are currently going for approximately $310 per sq. ft.* That’s a roughly 4x better value than devoting your limited property space in Carmel to a garage!
So, if you want to do something with your Carmel land, which would you rather do? Expand your family’s living area? Or devote space to a garage? The choice is obvious.
Avoid the Regulatory Runaround
In addition, by not undertaking a garage construction project — you’ll avoid endless delays and miles of red tape trying to get the project approved and built. City planning meetings. Nosy neighbors telling you what they think of you disturbing their peace with your construction noise and dust — plus the volume of your cars’ engines when you work on them once the garage is completed.
You’re looking at months of hassles and mounds of fees for architects, contractors, planning approvals, unavoidable delays, and other issues. Read more about scary garage stories.
Preconstruction Provides Added Flexibility and Incentives
Construction is set to begin in the spring with occupancy by early 2019. Because work hasn’t started yet with the construction drawings still to be done, now’s the perfect time to buy — when you can customize your unit by taking out a wall or two, installing climate control for your cars or a wine collection, or making other desired modifications.
What’s more, Monterey Motorsport Park is offering special preconstruction incentives for people who purchase a unit before our groundbreaking. We’ll provide a free electric garage door lift and grind and polish your garage floor to a glossy mirror-like finish — yours at no additional charge for getting in early to this unique car community.
Not the Best-Kept Secret
While it’s still early, the word is getting out fast. And people like you are really excited. Already 30% of the units have been reserved just a few months after the project’s announcement. And remember, our now sold-out Garage Unlimited of Monterey project was nearly 75% committed by the completion of construction. So, if this sounds like a solution to your garage’s growing pains — don’t wait! Contact us Today
Thanks to Courtney Jones of Carmel Realty Company for her help with this blog.
* Sales prices are subject to change without notice. Check the website for the most recent pricing.