By comparison, Starbucks now has 11,100 stores in the US. Self storage is a huge industry that pulls in over $154 billion dollars a year.<\/p>\n
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In Canada, it is estimated that there are over 3,000 storage facilities and business is booming. North Americans are living well beyond their means and Canadian household debt is at an all-time high.<\/p>\n
We\u2019re purchasing so many things now that we don\u2019t know where to put it all!<\/p>\n
Consider these incredible research findings:<\/p>\n
- \n
- According to a Boston College sociologist, the average US consumer purchased one new piece of clothing every five-and-a-half days.<\/li>\n
- A 2006 study by UCLA discovered that middle-class families in Los Angeles were \u201cbattling a nearly universal overaccumulation of goods\u201d and that \u201cthe home goods storage crisis has reached almost epic proportions.\u201d<\/li>\n<\/ul>\n
By the mid-2000s, the average size of the Canadian home peaked at 2,300 square feet. In the 1960s, homes were around 1,200 square feet. We have more storage space than ever before but it\u2019s still not enough.<\/strong><\/p>\n
Storage units\u00a0aren\u2019t the answer.\u00a0There are countless stories<\/a> of people coming to this realization after spending thousands of dollars. Hopefully the rest of this article will convince you why storage units\u00a0are a bad idea.<\/p>\n
1. Storage units are expensive<\/h3>\n
The price of self storage units in downtown Toronto are not cheap.\u00a0You\u2019ll pay less in Ajax or\u00a0Brampton by up to $50.<\/p>\n
Listed below is some sample pricing for small and medium storage units in Toronto:<\/p>\n
Small storage unit (5′ x 5′)<\/h4>\n
- \n
- 25 square feet of space<\/li>\n
- enough to store some small items, boxes and luggage<\/li>\n
- $139\/4 weeks<\/strong><\/li>\n<\/ul>\n
Medium storage unit (5′ x 10′)<\/h4>\n
- \n
- 50 square feet of storage space<\/li>\n
- most popular size<\/li>\n
- enough to store the contents of a bachelor apartment<\/li>\n
- $233\/4 weeks<\/strong><\/li>\n<\/ul>\n
A medium storage unit can\u00a0cost $3,029 each year<\/strong>. In\u00a0five years that cost balloons to\u00a0$15,145. Does it make sense to spend that much money on storing your excess clutter?<\/p>\n
2. Your storage unit is full of junk<\/h3>\n
It\u2019s hard to part with your things. They might be family items with\u00a0sentimental value.\u00a0Perhaps you collect rare books,\u00a0baseball cards, musical instruments,\u00a0or antique furniture.<\/p>\n
Be honest with yourself. How much of the stuff that you collect is really junk? A lot of the items in storage lockers have little to no value.<\/p>\n
If you\u2019ve ever\u00a0watched an episode of\u00a0Storage Wars<\/em>, then you\u2019ll know that most of the storage units out there\u00a0are full of junk.<\/strong><\/p>\n
It costs a lot of money to store junk. If you haven\u2019t used something in your home for several years, you probably don\u2019t need it. Just throw it out.<\/p>\n
3. Hidden costs and services<\/h3>\n
There are hidden costs and services associated with renting a storage locker that\u00a0can add up\u00a0quickly.<\/p>\n
Many\u00a0self storage companies in Toronto charge a setup fee and require a mandatory monthly insurance premium.<\/p>\n
A 5′ x ’10 storage unit might start out at $199\/4 weeks<\/strong>. Factor in some of these\u00a0additional\u00a0costs and services:<\/p>\n
- \n
- $7.50 for mandatory insurance<\/li>\n
- $20 for secure locks (extra security and protection)<\/li>\n
- $20 premium storage (units are closer to access points in storage facility)<\/li>\n<\/ul>\n
All of a sudden you could be paying $246.50\/4 weeks<\/strong> or an additional $2,470 each year!<\/p>\n
4. It\u2019s smarter to invest in home storage and organization<\/h3>\n
If you own a home or condo, it makes more sense to invest in home storage and organization instead of self storage.<\/p>\n
People rent storage lockers because they think there\u00a0isn\u2019t enough space\u00a0in their homes. There is a lot of underutilized storage space in your home<\/strong>.<\/p>\n
Sometimes it just takes a design expert to help you find it.<\/p>\n
![\"White](\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\")
<\/a><\/p>\nInstead of wasting money on a storage locker, invest in a custom closet<\/a> or custom cabinetry. It might cost the same as renting a storage unit for a year or two, but it will increase the value of your home.<\/p>\n
Realtors believe that a walk-in closet can help a condo stand out from other homes on the market when it comes time to sell.<\/p>\n
5. Theft and damage<\/h3>\n
A lot of self storage facilities don\u2019t have onsite security guards. Depending on the construction of the storage locker, it is possible to break into a storage unit.<\/p>\n
If a storage unit doesn\u2019t have climate control the contents of your unit could be at risk. Furniture and electronics that are exposed to extreme heat or cold can become damaged over time. Mould and water damage can also occur.<\/p>\n
Just do a Google search for \u201cwater damage storage unit<\/a>\u201d. Sometimes insurance claims are denied if you don\u2019t have proper coverage.<\/p>\n
6. Storage units are a bad investment<\/h3>\n
People often store furniture or electronics in storage lockers because they cost\u00a0a lot of money when they\u00a0were first purchased. Throwing them out feels wasteful.\u00a0Maybe they will\u00a0increase\u00a0in value when they are older.<\/p>\n
Why would you sell a piece of furniture on Craigslist for $50 when you originally paid\u00a0over $1,000 for it? You could put it in storage for 10 years and give it to your kids when they move out.<\/p>\n
The only problem with that logic is that your storage costs after 10 years could be more than $20,000! That\u2019s way more than the original value of the furniture. And that doesn’t make any sense. Sell these items on Craigslist, Kijiji, or give them away.<\/p>\n
7. You can donate your furniture to someone who needs it<\/h3>\n
We often store things for years and never use them. As time goes by we get fed up storing things like furniture and\u00a0eventually throw them out or give them away. Why wait?<\/p>\n
Help a family transitioning out of homelessness<\/strong> or displacement and donate your furniture to an organization like Furniture Bank<\/a>. You\u2019ll be doing some good and will even get a tax receipt.<\/p>\n
8. Environmental footprint<\/h3>\n
According to the the Self Storage Association, the US\u00a0 has over 2.3 billion square feet of self storage space. Consider the\u00a0climate control and lighting costs<\/strong> for all of that storage space.<\/p>\n
If you care about the environment, you have to wonder why we are spending so much energy to house so much junk.<\/p>\n
9. It is cheaper to declutter<\/h3>\n
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<\/a><\/p>\n![\"The](\"https:\/\/www.organizedinteriors.com\/blog\/wp-content\/uploads\/2015\/08\/life-changing-magic-of-tidying-up.jpg\")
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