If you are moving to a new home in Kamloops, you may want to consider a significant side-benefit of renting a Kamloops storage locker: savings on your home purchase. With Kamloops real estate prices on the rise, do you really want to pay for extra square footage that you only need for in-home storage? Before purchasing your next home, talk to the experts at Valleyview Mini Storage about Kamloops storage locker options and prices. It could change your perspective on the amount of living space you actually need.
According to the Kamloops Real Estate Blog, as of this writing the Kamloops and District median home price (not including condos and mobile homes) was $429,900. The median home price in the city of Kamloops was $473,000. If several hundred square feet of that home is only used for storage, you are paying a premium for space that you’re not living in.
Several Ways a Storage Locker Saves You Money
The following are several ways you can save, or even make money, by clearing out your in-home storage and moving those belongings to a Kamloops storage unit. So, read on, then grab some moving boxes and packing supplies, reclaim your space and save some money!
Pay for less square footage when you buy (or rent) a home.
As mentioned, you could pay thousands per year for in-home storage square footage you don’t actually need. Instead, you could save that money by estimating the square footage you need for storage and buy or rent a smaller home. You could rent a storage locker and save thousands of dollars per year on your mortgage and interest.
Purchase more living space.
With the money you save by renting a storage unit, instead of paying for in-home storage square footage, you could purchase a home with more living space (e.g. bigger kitchen, bigger rooms, a home office). If you are going to pay for space, it should be space that you live in!
Free up space instead of moving.
There are many reasons to move. Sometimes people move because they are running out of space. Maybe you have a den that is overflowing with seldom-used items or a garage or basement that is stuffed to the rafters. What if, instead of purchasing or renting a home that has more space, you maximize the space you already have? Clear out the basement or den, pack items into moving boxes and take them to storage.
Turn a former storage space into a room rental.
If you have a spare room, den, or heated, secure garage that you are currently using for storage, clear out the clutter, move it to a storage locker, and earn some cash by renting the space to students or as a vacation rental. On Airbnb currently, typical rental prices for a separate bedroom in a shared home are $30-$60/night. That’s $900-$1,800/month, or, $10,800 – $21,600 per year in rental revenue! Even after paying for storage to clear out those spaces, you could generate some handy revenue.
Need a Kamloops Storage Locker?
If storage might be the right option for you, visit Valleyview Mini Storage before you move. Our helpful staff will help you choose the right storage locker and can answer any questions you may have about locker sizes, prices, security, moving boxes and supplies, and more.