Yes, it sounds like a good idea to rent a storage unit. There are a variety of reasons: you may be downsizing, in rental limbo, your home doesn’t have enough storage space, and so on. I’ve had many clients who believe they need to store furniture, accessories or personal items for the future.
But is a storage unit really a good idea? Possibly not. Here are 3 reasons why:
1. You’re likely holding on to things you won’t use
If you’re renovating, a unit can make sense. But for the majority of people, you’re likely just storing stuff you don’t need anyway. If something is of value, sell it or give it away to someone who will appreciate and use it. The funny thing is many people actually forget what they have stored anyway.
2. It’s a hassle
You’ll need to shop around, figure out the right unit size, find the best deal (they generally don’t post rates online), sign papers, move things in and (eventually) move things out. Aren’t there other things you’d rather be doing?
3. The costs can be shocking
There’s a wide range of unit prices depending on the size, location and options you need. Climate controlled, electrical access, ventilated, high security? It’s easy to spend $300/month on a storage unit in Vancouver. That’s $3,600 a year! After 4 years, you’ve spent $14,000! Think of everything you’re storing- is it even worth that much? Where else would you use that money for?
I urge my clients to think through all their options before renting a storage unit. If it’s exactly what you need short-term, then go for it. But for many people, it’s really not a good fiscal decision. To read more, check out a LinkedIn post from my colleague, local realtor Mona Lamarche called Where Do I Put all My Stuff?
If you need help moving or downsizing your home, be sure to contact us at Out of Chaos. Learn more about our move management services here.