May 22, 2008

Make Your Next Garage a Condo

A company called GarageTown USA is blazing a new trail for those who own special cars -- or boats, RVs, trailers and other “boys’ toys.” It has just celebrated the sale of its 200th garage condo unit in Arizona, spurred by what the company calls “standard appreciation and tax benefits allowed by law.” Rather than paying rent that goes out the checkbook never to be seen again, owners of the garage condos find the fact that ownership offers some tax advantages and the potential for appreciation in value to be significant benefits. Launched in August 2007, the company opened its first of five Arizona developments in Chandler’s Stellar Airpark. GarageTown USA now offers garage condo ownership at developments in Idaho, Alaska, Texas, Colorado, Washington and Arizona.

“We were amazed at how quickly people took to the idea of purchasing a garage condo here in Arizona,” said Stephanie McDaniel, director of sales and marketing for GarageTown USA Arizona.

GarageTown USA AZ offers private garages with 16-foot ceilings and up to 2,000 square feet of usable interior space, which owners have found excellent for protecting their “recreational toys.” And, almost inadvertently, the developments have created a community of like-minded individuals who enjoy socializing and admiring one another’s garages. Many of the owners have taken the time to upgrade units with custom cabinetry, checkered floors, car lifts and mezzanines, which offer a second floor for added space.

“On the weekend, many of the owners have their door open and don’t mind if other owners take a peek at their shiny cars and other collectibles,” Stephanie said. “In fact, they encourage it.” Next Driving Today News>>