Are Self Storage Units a Good Investment?
If you’re wondering if renting a storage unit to store some or all of your belongings is a good investment, or a sound idea, then search no longer! This blog will be giving you that information, crunching the numbers necessary to figure out if using a self-storage unit is worth the cost. Spoiler alert: It is.
Looking at our units for instance, they come in sizes of 4×6 (24 sq. ft.) up to 15×22 (330 sq. ft.) You can get that 330-sq. ft. for a reasonable cost – to determine current rates contact us here. For that same amount of space in your home it can cost hundreds of dollars in rent or mortgages a month! In fact, …
According to web real estate giant Zillow, the median price per square foot is $123. That’s per foot! Sure, this is listing price to buying a home, and the rental value per square foot will be a lot different but let’s stick to that number just as a reference, after all you are considering investments – investments mean long term!
Albuquerque Self-Storage, or any self-storage place for that matter, will be able to handily beat that price. Instead of looking for that home with a big enough garage or attic space, you can focus on all the extra living space that can be had for your buck.
Maybe you did not mean to look into self-storage being a good investment savings wise. If that is the case, you may be looking to find out if buying storage lots (as made famous by TV shows over the past decade) and flipping their contents is a good investment. As for that we can say a definite ‘If you’re lucky.’ The whole bidding on storage lots and reselling all the contents can earn you money but only if you have a shrewd eye for possible valuables and the haggling skills of a pro, and even then, you are almost guaranteed to have a few units be a bust. In that case, the financial benefit of self-storage is hardly a certainty.
While not fulfilling the classical definition of investments, according to economics, the money saved by using a storage unit as compared to a larger home or apartment makes it a handy money saving technique you can leverage to keep your wealth in your hands and not flowing frivolously to hold your stuff. With a more cost-effective living space at home you can take those savings and put them to work for you.
Self-Storage units, like any other resource, can be a great investment so long as you make them work for you, as a tool in your overall financial maneuvering. Keeping your same oversized place while moving your seasonal belongings to a unit can be great, but so can streamlining everything. With a little bit of work, we are certain you can get the most out of our storage solutions.
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