Economical Storage Units - A Comprehensive Guide 2024

Published: Mar 15th, 2024
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Finding an economical storage unit in the vast United States landscape is undoubtedly a very hard task. Whether you move from one place to another or renovate your home, you need to shop around to find a storage unit that meets your requirements.

 

Have you ever felt a little lost when considering hiring a storage facility? Well, you are not alone. According to a Self-Storage Association (SSA) survey, 77 % of clients either miscalculated the storage expense or needed clarification on its pricing.

 

Understanding storage unit prices and how much self-storage costs may appear difficult initially, but we're here to help.

 

In this blog, we will discuss the cost of storage units, the cheapest storage options, factors that affect the average cost, and the tips you should use while deciding.

If you are considering a cheap and economical move, you can also check out this article:

Cheapest way to move out of state

How much does a storage unit cost?

The average cost of a storage facility by size is :

Size Average Cost
Small Unit $50-$80
Medium Unit $100-$150
Large Unit $200-$350

 

A climate-controlled storage facility costs at least $25 to $30 monthly. Depending on the items in the storage unit, you may require a specific temperature or amount of humidity.

 

Most storage unit companies offer this form of specialized storage, but it may not be included in the normal storage leasing plan, so make sure to ask. 

Pros and Cons:

Pros Cons
Declutter Size
your Living Space Limitations
Flexibility of Services Risk of Damage
Climate Control Management Issues
Safety of Your Items Insurance Costs

 

6 Economical Storage Unit Options to Save Money.

You could rent any affordable storage unit, but that does not guarantee you will get the best value for your money. Here are six economical storage units for a variety of needs.

 

1. Self-Storage at Your Location

Self-storage is one of the best options to store your belongings. If eliminating storage is not an option, you can save much money over time by reducing and storing items at home or work.

 

Attics, basements, garages, guest bedrooms and offices frequently have empty storage areas in sheds or under decks, ideal for storing household goods, boats, equipment, or construction materials.

 

In this way, you can save your items in your place and save a lot of money.

2. Utilize Friends and Family Extra Space

You can cut the cost of storage facilities by utilizing your friends or family member's extra space. If your friends or relatives have additional space, ask if they would be willing to hang onto a few items for you. This approach is usually appropriate for short-term storage. After all, you want to avoid burdening a buddy by storing stuff there for a long time.

 

Begin by asking close friends and family members. Sweeten the offer with a complimentary lunch, supper, or movie. You won't have 24-hour access to your possessions by storing your items there, but the cost is worth it.

3. Temporary Donation

If you want to store your possessions but don't want to spend money on storage units, you can temporarily donate them. It's a great idea to save money spent on storage facilities.

 

Donations are typically final, although this is not always the case if you have a long-standing relationship with the organization you donate to.

 

If you plan to store an old living room set or a patio table and chairs for six months, you may save on storage rental fees by temporarily donating them until you are ready to use them again.

 

In this way, you can save yourself from rental fees for storage units.

4. Rent a Portable Storage Container:

Renting a portable storage container is also a good choice to save money on storage units.

 

Container storage companies allow you to select the size of your moving container and then call or schedule delivery online.

 

Find the best container moving companies in USA here

The provider will then send an empty container to your home or business. Once loaded, you can leave it on site, transport it to the company's secure facility for local storage, or even relocate it to another state until you are ready to move into your new house.

 

5. Purchase a Pre-Owned Overseas Container

Purchasing a used overseas container is the best option if you want to store your items for a long time. A used 40-foot shipping container costs between $1000 and $3000, depending on factors like your area's location and the container's size.

 

Smaller 20-foot containers may be substantially less expensive than their larger counterparts and take up much less space while still affording sufficient area.

6. Consignment Shop Storage

Consignment shops are free storage units where you can temporarily store items. They allow you to drop off your belongings and get them out of your home before they sell.

 

Consignment shops will then sell your belongings for a commission. Typically, you should expect to earn between 30% and 75% of the overall transaction price, though this can vary per dealer.

Factors that can affect your storage Cost?

Several factors influence the storage cost. Understanding them can help you manage or reduce your expenses. Here's how factors can affect your storage cost:

 

Location

Location is the major factor affecting storage unit cost. Storage units located in major cities and urban areas often have higher rental rates due to the higher cost of real estate and greater demand.

 

Units that offer easy access, such as those close to major highways or in densely populated areas, might charge more for convenience.

Duration

The time duration of your storage unit also influences its overall price. Some storage providers offer discounts for long-term contracts to secure steady occupancy and revenue. In contrast, short-term storage might come at a premium due to higher turnover and administrative costs.

 

Season

The season you choose to store your items also affects the storage unit costs. Prices can fluctuate based on demand. During peak moving seasons (usually summer months), prices increase due to increased demand for storage space.

 

Conversely, storage companies might offer special promotions or discounts during off-peak seasons to attract customers.

Size of Items

The size of the storage unit you need directly impacts the cost. Larger units cost more than smaller ones. 

 

Insurance

The value of stored items and the desire for insurance coverage can also influence costs. Some facilities require you to purchase insurance, while others may include it in the rental agreement.

 

Climate Control

Climate-controlled units maintain a balanced temperature and humidity level and are typically more expensive than standard units but necessary for sensitive items.

 

Best Storage Companies

Finding the best storage companies can be overwhelming. But with My Good Movers, it is just a one-click task. Choose your best self-storage unit companies in the USA here. 

Things You Should Consider When Choosing an Economic Storage Unit

Making an informed decision when choosing an economical storage unit is essential for the safety of your belongings and your wallet. Here are some things you should consider.

 

1. Stay Informed about the costs of each location.

Storage rents will be more expensive in more convenient and highly populated places. This is normal because there will be a greater demand for storage facilities in that area.

 

If you are moving from a big city to a rural area, always select the storage unit closest to your new house. It will be closer and also much more affordable.

2. Choose the right size for the storage unit

Storage units are available in diverse sizes, from compact 5′ x 5′ spaces to more spacious 10′ x 30′ units and many sizes in between.

 

Selecting the appropriate size is crucial, as the dimensions of the storage unit primarily determine the monthly rental fee.

 

It is common for customers to opt for a significantly larger unit than necessary. 

3. Avoid potential rate increases.

Are you aware that rental rates can fluctuate? Indeed, many storage facilities reserve the right to adjust their rental rates over time.

 

Such changes depend on the storage provider's policies, making it crucial to inquire about potential rate adjustments before signing a lease. These possible changes should also be detailed in the storage unit contract, so reviewing the agreement thoroughly is vital.

Tips to Choose an Economic Storage Unit

Storage units come in different sizes, price points, and locations. The simple way to determine which storage unit is best for you is to consider your needs. Here are some of the main things you should consider when choosing an economical storage unit.

 

  • How many items will you store? And for how long? Will you rotate your storage or keep it the same over time? 
  • Do you require it to be close to your current house or a specific location? 
  • How will you store objects? Will you need a storage dolly or a huge team of people to help you transfer your belongings? If so, a ground-level unit may be ideal.

Frequently Asked Questions (FAQs)

The winter season often presents the most affordable opportunity to rent storage. Demand decreases with the end of the peak moving season.

Collectively, 10x10 storage units can accommodate belongings from approximately three rooms, such as mattress sets and appliances.

The typical storage unit sizes vary from 5-by-5 feet to 10-by-30 feet, with numerous options in between. Smaller units are ideal for storing small equipment over an extended period, while medium and large units are better suited for short-term storage needs during relocation.

Storage units may be worthwhile for someone who resides in a small apartment but plans to upgrade to a larger location.


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