Why Paying for a Storage Unit Is Always a Terrible IdeaExorbitant storage unit prices are one of the many reasons why you should pass on self-storage.

iStock.com / Sean Locke Photography

The comfort of consumption can push people to accumulate so much stuff that the median 2,500-square-foot U.S. home can no longer accommodate the stacks of books and DVDs, specialty kitchen appliances and IKEA furniture that has been amassed. Paying for storage facilities might seem like an easy solution when you’re in dire need of short-term space.

But, typically, storage units aren’t worth it. You should stop spending money on stuff you don’t actually need.

Self-Storage Unit Prices

The common misconception is that by storing old furniture, clothing and other belongings, you can relieve your savings account by not having to repurchase these items when — or even if — you need them in the future. Unlike storing extra belongings in your home’s attic or garage, though, keeping units at storage facilities costs you extra money.

The storage unit price is determined based on a few factors, including:

  • Size of the unit
  • Location of the storage facility
  • Other special features such as climate control and an indoor unit versus an outdoor unit

The average national storage unit costs are:

  • $40-$50 per month for a 5-by-5-foot unit
  • $75-$140 per month for a 10-by-15-foot unit
  • $115-$150 per month for a climate-controlled 10-by-15-foot unit
  • $95-$155 per month for a 10-by-20-foot unit
  • $170-$180 per month for a climate-controlled 10-by-20-foot unit
  • $225 per month for a 20-by-20-foot unit

These expenses combined are the equivalent of a car payment or monthly grocery bill for many households, which would offset any savings you might recoup by hanging onto this stuff in the first place.

Learn: How to Turn Your Hobby Into a Business

Common Justifications for Using Storage Facilities

You might opt for paid self-storage units for a number of reasons. Ultimately, however, you pay for the convenience of being able to put years’ worth of purchases into a dark hole. The scenarios under which you’d be compelled to endure high storage unit prices might vary, but they usually fall into the following categories.

1. I’m too attached to my stuff.

For some people, getting rid of things is difficult. A person who can’t let go of things that others deem useless, such as old magazines or even newspaper flyers, might find it necessary to rent self-storage facilities in order to house all this stuff. This kind of attachment could be an indication that there’s a problem and the person in question might be a hoarder.

The American Psychiatric Association outlines two types of treatment that help people with a hoarding disorder: cognitive-behavioral therapy and medication. CBT works with people to help them get rid of things without feeling overwhelming anxiety or stress. This type of therapy teaches people how to be better at organizing, making decisions and relaxing. Medication might help some people relieve or improve symptoms.

Even if you’re not a diagnosed hoarder, you should learn to let go of more things to make room in your life — and your wallet.

2. What if I need that stuff later?

If you’ve moved into a smaller home, but feel the need to keep the dining-room set that doesn’t fit in your new abode “just in case,” you’ve probably considered paying for extra storage space. Unfortunately, keeping that outdated dining set from 10 years ago can end up costing you quite a bit of cash. If you rent a 10×15 unit that’s on the low end of the national average — so, about $75 per month — you’re spending $900 per year on a unit. And that price doesn’t include any other taxes or fees the facility charges.

Unless your downsize is temporary, it’s time to make money off the furniture and other items that don’t fit in your new home, instead of spending money on them. Try placing furniture at consignment shops; oftentimes they will pick up larger items from customers. Places like Goodwill and other thrift stores will be happy to take items you’re no longer using. And you should be happy to finally have them out of your life so you can avoid paying to keep them in storage.

3. I don’t have time to throw a yard sale.

Everyone has reasons for not getting to their to-do list. You’d rather go out with friends than do the laundry, or hit up that new restaurant instead of mowing the lawn. In the case of putting off that yard sale, it’s time to shelf your reasons for procrastinating and get moving.

Imagine the cost of storing your 15-year-old drum kit, hardly used bikes, the old golf clubs and whatever other items you cleared out of your garage. It’s easy to see how you’re wasting money on things you don’t want. After a few months, you’re looking at hundreds of dollars in storage fees rather than hundreds of dollars in your pocket.

That’s not even the worst scenario. If you forget to pay for your unit, your automatic debit payments are somehow canceled or there’s just a mix-up with the facility, your things could end up in a storage unit auction.

Related: 7 Times Being Lazy Costs You Money

Before you move, set up a date for your yard sale and start planning. Put together a price list, complete with research on comparable items for sale on Craigslist. For expensive stuff, even if it’s outdated, you’ll want to know the value in today’s market. Consumer Reports suggested that sellers treat their yard sales like actual shop owners treat their merchandise. Offer buy one, get one free deals, for example. You might be surprised how much money these space-hogging dust collectors can make at a well-planned yard sale.

Another option is to list the items on eBay, Craigslist or a neighborhood community board. Even social media sites, like Facebook, have “For Sale” groups that members can join based on area or neighborhood.

Find: 20 Hidden Sources of Income Lying Around Your House

4. I’m too busy to get rid of my things.

By leaving your belongings in a storage unit indefinitely, you’re wasting money month after month. Rates can rise or fall dramatically depending on your ZIP code, even a small unit can cost $100 or more per month. As the years go by, this unit can turn into a devastating financial loss.

Before more time passes, try making a plan. Whether it’s setting aside a weekend to sort out your things or accepting that there might not be a place for some of your property and it’s time to donate it, give it to a family member or sell it — action will yield savings and probably some relief, too. You just have to make time for it.

Feeling ill-equipped to perform a certain task is one reason people procrastinate, according to Psychology Today. Therefore, if you are finding it hard to imagine how you’re going to get rid of a unit’s worth of stuff — perhaps all by yourself — then it’s easy to understand why you might want to put it off. It’s overwhelming.

The solution is to just dive in and do it. You can use a cognitive coping self-statement, sort of like “The Little Engine That Could.” Try giving yourself a pep talk in the vein of “I think I can.” Positive affirmations like this can help take the fear out of the task and eliminate your need to procrastinate — and spend unnecessary money on storage fees.

Comments
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  • Angelo_Frank

    Renting a storage unit to hold clutter while selling one’s home is a good idea. Extra clothes, family heirlooms, suitcases and miscellaneous items should be out of view. An open, clean, uncluttered home shows well.

    • ODWms

      That’s what attics are for.

      • Angelo_Frank

        To begin with, many homes don’t have attics, especially on the West Coast. Besides, many items are too heavy to move into the attic and the question of temperature sensitivity of heirlooms comes into play. The home inspector while probably making you move the items, may trip over something, get injured and sue the home owner. I’d rather play it safe and rent the storage unit.

        • IIlI

          heirlooms = codeword for junk that the next generation has no interest in. what a joke. get rid of stuff. it takes over your life. we are all gonna die and take NOTHING with us other than memories. objects will be dumped in a landfill

  • H Smith

    Storage units are decent short term use; i.e. you’re in college and moving out of the dorms for the summer, and where you’re staying for the summer is several hours away. Just renting a nearby storage unit for about three months may be easier than making several trips for stuff you wouldn’t use there, such as the mini fridge, the xl sheets, and the heavy winter jacket.

  • Tina

    I’ve been thinking of getting a storage unit lately so I can move out of my house and into an apartment. See, my mom owned this house but she died a year ago. Since then the mortgage has gone up and I haven’t been able to part ways with her things sitting upstairs. I could rent this place out and earn money instead of losing it, and comparing the costs of staying here and renting a small apartment with a storage unit makes me think it would help. Can anyone give me a valid reason not to? Also, I know it’s odd but I want to keep the stuff, but not have to see it.

    • Rogueree

      How did the mortgage go up? If you are in an adjustable rate mortgage, refinancing to a fixed rate is an option if you own the house as an inheritance. The mortgage will never change afterward.

      • Tina

        It was because of the home insurance/escrow, I guess the price changes every year. Either way, I’ve tried refinancing (before I knew the problem was escrow) and no one will because her credit is so bad.

  • BSman

    Just as they say. “It’s easy as heck to get into a storage unit, but hard as hell to get out of one”. People don’t realize that every month they have items in a storage unit they are devaluing what is stored there by paying rent to keep it. Great for self storage facilities but bad for the average individual who really can’t afford storage in the first place.

  • Drew

    It sounds to me like this person is upset by the fact that storage facilities do provide a much needed service and potentially become a large income producer for the owner. However, the person who wrote the article has missed the boat as far as storage ownership and has come up with a weak list to deter folks from storing their personal belongings…Poorly written article..

  • WakeUp3

    This is a great article. I have a friend who has multiple storage units around town. He goes to flea markets and thrift stores and he likes to buy things. He doesn’t want a cluttered home, so he stores stuff. In the past he also transferred a whole house worth of furnishings into storage after he moved into the inherited family home and wanted to hold on to his own home collected items. I have no doubt that he pays at least $500/month for storage. So in the past twenty years, that amounts to $120,000 …. to store stuff that is worth, at most, $10,000. Crazy. Pack rat syndrome is an addiction as costly as many others.