Choosing the best storage solution: renting versus buying

StorageBuildingPicNo matter how large or small your home, there’s never enough space for all your stuff. For years, my garage was so full of tools, holiday decorations, used furniture and random boxes that I had to park my car outside. And my attic was so packed with stuff I was afraid the ceiling would cave in. I decided to clear some things out, but I didn’t want to get rid of anything, just get it out of the house.

If you are living in Australia, we recommend you to take a look to the units available at Storage Sydney, they have different sizes and prices where you can store your belongings.

My first inclination was to rent a self storage unit, but I did some homework that soon changed my mind.

Rental self storage units are a perfect solution for temporary problems. If there’s some downtime between moving from one house to the next or you want to stash away valuables while you’re on vacation, a short-term self storage unit lease is a great option. When it comes to long-term storage, however, the choice isn’t as clear.

While renting space is cheap enough on a per month basis – starting around $50 per month for a small unit, if you need storage for longer periods, it can add up quickly. Larger air-conditioned units can cost $200 per month or more. You may also want to purchase insurance. Most self-storage facilities won’t insure the safety of your items. You are responsible for your items even though someone else owns the premises. In this case, you really need to thoroughly check out the location before signing the contract. Even if you do, there is still possibility of trouble.

For long-term storage – the kind I needed – the cost of buying a storage building and keeping your stuff on your own property is really attractive. You can buy an 8′ x 12′ portable storage shed for right around $1700. A comparably sized rental unit will run you about $120 per month.

Let’s do the math. At $120 per month, it would take you right around 14 months to pay off a brand new storage shed and then you own it – forever.

And today’s portable storage buildings aren’t like the ones your grandparents had in their backyard. They’re built really solid and can withstand hurricane-level winds. Some even come with 20-year warranties and you can choose a style and paint scheme to match your house. Many come pre-wired with electricity, have windows to let in natural light and are well-insulated to protect your items from extreme temperatures.

The most important point, however, is that your stuff is conveniently within reach. It’s literally just outside your backdoor. That was the deciding factor for me.

No one option is best for everyone, just make sure to weigh the pros and cons of your personal circumstances when making a decision. If you’re looking for a long-term solution to your storage needs, I’ll bet you’ll find buying a storage shed is your best option. If short-term is all you need, renting may be right for you. Either way, at least you’ll finally be able to park your car in the garage and sleep soundly at night without wondering if that creak upstairs signifies the impending collapse of your attic.

About the Author

Damion Keller is a husband and homeowner who enjoys writing about everything from family life to home maintenance. In his free time, he enjoys traveling, reading and watching sports on TV.

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