Running Short on Cash? When a Self-Storage Unit is Right for You & Your Needs

Self-storage units are available all over the country like the Lighthouse Self Storage in West Palm Beach FL and they continue to provide extra space and room for those who are in need of it. Statistics show that about 10 percent of all US homes utilize a storage unit. That is a big number and while many people do use them, is it a good idea?

There are times when it does make sense for you to rent a storage unit but there are other times that it just not make any financial sense to do so. But, how do you know if you should or should not rent a storage unit?

Below, we will talk about good reasons to rent a unit and times when you are simply tossing money into the air. 

Reasons You SHOULD Rent a Storage Unit 

It would be impossible for us to cover all reasons for renting a storage unit makes sense, so you should judge your situation and determine if it makes the most sense for you to rent one. Remember, storage units cost money, and, in some states, they can cost upwards of a couple hundred dollars to rent per month. With that said, you want to make sure that you are storing items you truly need and want. 

Reasons to store items in a storage unit:

  • Selling your home, buying a new home, or moving
  • Keeping an investment safe and secure 
  • Needing extra room for a short amount of time 
  • Running a business or storing inventory for a business

Times You SHOULD NOT Rent a Storage Unit 

A self-storage unit seems like the solution to any problem where space is an issue. Need more room? Rent a unit. Have an item you don’t know what to do with? Rent a unit. Inherited a car that doesn’t run? Rent a unit. 

While storage units are indeed extremely helpful and worth it in most cases, there are times when you simply do not need one and all you are doing is throwing your money away. 

Reasons that do NOT justify a storage unit:

  • You simply do not want to throw something away 
  • Keeping items, you never use or do not need 
  • You cannot afford the monthly payments on the unit 
  • Using storage beyond a reasonable timeframe

What to Keep in Mind as You Decide to Store Your Items 

Before you go out and rent a storage unit, think about what you need the unit for and think about whether you have the monthly payment. You do not want to strap yourself financially for the sake of extra space. 

In addition, do not waste your time or money storing items that you will never use, broken items, or items that you could toss in the trash. 

Your storage unit should house items that are valuable or worth something to you. Also, as you move into your storage unit, toss out as much as you can to keep costs to a minimum. The smaller the unit, the more affordable it will be too. 

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