When having Too Many “Toys” Becomes a Problem
The problem for many families with higher incomes is that they have too many large valuables such as RVs, cars, jet skis, boats, etc. It’s a crude observation, but very realistic. Given this problem, families attempt to determine where to store their valuables. One option might be to build another garage or new building for their valuables. Nationally, homeowners spend on average $24,794 building a new garage, which seems much cheaper than buying a $69,900 storage condominium, but buying a storage condominium (a large storage unit) is a much better investment.
People do not always stay in the same house forever and when it comes time to sell the house, potential buyers may forgo buying one’s property because of an additional garage or building. Building another garage only has a 60-70% return on investment according to a variety of home improvement experts that I read about and to me, building a garage that doesn't have a100% ROI is not worth it. A storage condo, moreover, appreciates in value – ensuring a full return on one’s investment and potentially allows a seller to make a profit. In this article, I will give 3 reasons why buying a storage condo is a better investment than building a new garage or building on your property.
3 reasons Why a Storage Condominium is a Smart Investment
Amenities at the Storage Facility
Building a garage or building on your property is cheaper than buying a storage condo, unless it is a high end garage. Regardless, almost all garages will not have as many amenities as a storage condo. Storage condos, such as ours, are under 24/7 security camera surveillance, which ensures that your valuables are safe from theft. Our storage condos also come with electricity and have a drive up garage door, allowing one to have easy access to their storage condominium for anything. Storage condo owners are allowed to use the storage condominium as they please and have 767 sq. ft. to do so. The storage condo is climate controlled and kept clean while vacant. In addition, there are financial benefits of owning a storage unit.
Storage condominiums will save you money in the long run. Having a place to store your possessions, no matter where you live and right away in a clean and secure location is ideal for most people. Storage condominiums appreciate in value due to the low supply and high demand, which allows owners to capture a full return on investment and more. Extra garages and buildings on a property does not always increase the property’s value and it can actually depreciate the value of a property. Storage condominium owners also receive tax breaks because it is commercial real estate. One can even rent out their storage condominium at monthly rates higher than the facility itself!
One of the most obvious benefits of storage condos is that it one can choose what they want to store, how long they want to store it, or what they want to use the condo for. People who move around a lot do not want to haul all of their possessions frequently. With a storage condo, one can use it as a permanent place to store anything they want. In addition, the owner can use it as a place to have a home away from home, to work at, or store large items. There are many options for storage condominium owners and that is another reason why they are a good investment.
Storage Condominiums Are Optimal for Large and Expensive Items
People who have purchased storage condominiums around the US have been satisfied with their investment, including many of our customers. I encourage you to think about whether you want to risk decreasing your property value by building another garage or purchase a storage condominium which guarantees a full return on investment. As you can see there are many benefits to investing in a storage condominium and the benefits definitely will exceed the costs in the future. You can do the research yourself and see that storage condominiums are a smart investment. Let us know if you have any questions or comments regarding storage condominiums through facebook or here.