Storage Facility unit Rental - Good idea or bad idea?

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Some things to consider before renting a storage unit. What is the primary purpose of renting, and how long will you rent? If you are in the process of moving and have to store your belongings for a month or two until everything is final, go ahead and rent. If you are considering making an income from storage unit facility auctions, it may be a good idea to rent a unit, and use it as a place for constantly moving items into and out of. <br>If you have a child that has moved back home, or a family member has passed away, and you are considering a storage unit, here are a few things to consider. Are the items being stored priceless? In other words are these items heirlooms or sentimental that need to be kept in the family at all cost? If so, go ahead and rent, nothing could talk you out of it anyway. If the storage unit rental is simply for tangible goods not simpy sentimental in value, let's do some math first.<br>Put a dollar value on the items you will be storing. Let's say you have furniture that you put a fair replacement value of $1800. You think you will be renting for 18 to 24 months. If the storage unit is renting for $75 per month, you will possibly get 2 free months for signing a one year contract. For the remaining 10 months that will be a cost of $750. Now your furniture has been reduced to $1050. If you stay for another year your cost will be another $900. Now your furniture value has been reduced to $150. Another problem with renting for a longer term like this is that it can start running into years simply because it is easier sometimes than getting rid of the stuff to begin with. It is your stuff, and you like it, but just how valuable is it? If you by chance leave it for another 5 years your furniture has lost all value, and you have spent $4350 on top of the value. That is assuming you can still get the original value of $1800 for the furniture. If you are just planning on using it again in the future, sell the furniture, save the hassle of paying a rental fee every month. Put the money in a money market, and when the time comes to get some furniture, take out the money, and go buy some. You might look me up and give me a tip for all the money you saved. Here is one more idea. Start buying unpaid storage units at storage auctions and fill your home with furniture from the purchased storage unit, and sell everything else. Now you have decorated your home for free, and maybe even made money on top of it. Storage unit facility auctions are fun, and could also be very profitable.

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