If you are like the majority of homeowners in the United States, you have too much stuff and not enough space to store it in. While we recently wrote a post on the best ways to keep your garage organized, even we can admit that keeping all of your things in line can be tough. If you have kids, keeping your things organized can be even tougher! For many of us, it is hard enough to even keep the indoors, visible areas of the house organized. The thought of organizing more concealed spaces, like garages and basements, sounds like a far off dream. While it is both a blessing and a curse, we simply have too many things to adequately store in most homes. Keeping storage spaces organized is hard when you have too many things to possibly organize!

 

Why does organizing your storage spaces even matter? Out of sight, out of mind…right? Not so much. Simply put, prioritizing cleanliness and organization – even in spaces that are designated for storage – can pay dividends toward your mental health, energy levels, and overall happiness. Some people simply cannot part with the items that they have in storage, but these items often tax their mental health slowly as they turn into clutter. Staying ahead of this clutter by organizing can free you from stress that you do not need to feel, and ultimately make all of your knickknacks and mementos more accessible.

 

While many homeowners reach this conclusion, most of them get hung up on the next key question. If you have too much stuff for your home and you can’t bring yourself to get rid of any of it, where do you store it?

 

There are really two options for you. You can either rent a place to store it, or you can build a place to store it. In a nutshell, that means that your options are either to build a shed in your yard or to rent a storage unit at a facility somewhere nearby. There are pros and cons to both of these options, and this post is going to dive into the advantages and disadvantages of buying a shed or renting a storage unit, with the goal of making your decision a little bit clearer.

 

Advantages of Buying a Shed as a Homeowner

 

 

·      You own the shed

 

Ownership cannot be understated. One of the biggest advantages of buying a shed as a homeowner is that you own it. While buying a shed requires a bit of investment on the front end, it ultimately stays with you for as long as you want it and requires no further payments after you have paid it off. The initial price can be daunting, but that price looks a lot lower once you start to calculate the cost of renting a storage unit for several years. If you are looking for a long-term storage solution, sheds are a much better option than storage units, even despite the higher initial investment.

 

·      Your shed adds value to your property

 

When you build a shed on your property, its worth contributes to the overall value of your house and property. While the amount of value that it adds is likely less than the price that it costs to build, you still are able to earn back some of the cost of the shed when you sell your house. Even if it only adds a few hundred dollars to the selling price of your home, that is several hundred dollars that you would not have saved if you opted for a storage unit instead of a shed. Like anything, the value of a shed decreases over time and the better you take care of it, the more it will add to your home’s total worth when you are trying to sell.

 

·      Your shed is located right in your yard rather than a drive away

 

In most cases, you probably want your stored goods to be easily accessible. After all, that is why so many people use their garages and basements for storage! If this is what you are seeking, having a shed is likely the better option for you. Being located right in your yard, sheds are significantly more accessible than storage units, which typically require you to drive several minutes in order to access your things. While that may not be a major inconvenience most of the time, there may be times where you just need one thing to use for one minute and you need to drive all the way to the storage unit to get it.

 

·      You can make permanent alterations to your shed without the need to ask permission

 

This is another benefit of ownership that might be very significant, depending on your intended use of the storage space. If you plan to use standalone shelving units, this likely makes no difference to you. However, if you were hoping to install fixed shelves, racks, or other things that require mounting into the wall, a storage unit complex may not permit you to do so. As the owners of storage units are responsible for the longevity of their units, they are often hesitant to allow drilling and permanent alterations to their units. If you buy a shed, you are free to drill holes and make changes wherever and whenever you want.

 

Disadvantages of Buying a Shed as a Homeowner

 

·      You need to pay for insurance for your shed

 

While insurance is a social good that can protect you from tens of thousands of dollars of financial damages, there is no denying that it can be costly. While nobody that has ever had to claim on their insurance regretted having it in the first place, it is still true that insurance can be a real financial drain in the short run that makes your budget ever so slightly tighter. Buying a shed means that you will likely need to expand your homeowner’s coverage to include it, which will lead to an increase in your insurance premiums. While that increase is likely minimal, it is still an expense you are responsible for that you might not have to worry about if you rent a storage unit. Storage units do usually require insurance, but it can usually be included via the storage company for a very minimal fee.

 

·      Your shed will take up space in your yard

 

For some homeowners, this does not matter one bit. If you have a large yard, for example, plopping a shed in the corner of it probably won’t make much of a difference to you. However, if you have a small yard to begin with, odds are that a shed would take up a large portion of that space, cutting down on your other usage options, like gardens or decorative spaces.

 

·      Your shed is permanent

 

Depending on the context, this could be either an advantage or a disadvantage. If you are seeking a long-term storage option, then the permanence of a shed is likely and advantage. However, if you are looking for something that can quickly store things that you don’t have room for but haven’t really thought about a long-term plan, buying a shed might not be the right choice. Sheds take time to build, and they are usually impossible to move without destroying. For these reasons, it is important to thoroughly think through the benefits and sacrifices that come with buying a shed.

 

·      Your shed requires upkeep

 

Sheds are a really nice addition to any property…until they aren’t. Like anything, sheds experience wear and tear and they depreciate over time. As a homeowner, it is your responsibility to keep your home in good shape at all times in order to maintain your property value. Sheds often require new rooves, new siding, and extra maintenance, and none of these things are required when you rent a storage unit.

 

Advantages of Renting a Storage Unit as a Homeowner

 

 

·      Storage units do not take up any space in your yard

 

If you have a smaller yard, the thought of buying a shed may be off-putting. As your space is limited, you might not want to permanently occupy it with a shed. While the storage is nice, the shrunken yard can be limiting, especially if you have children. In this case, a storage unit might be a better option, as it enables you to leave your yard fully intact and usable.

 

·      Storage units can be much larger than the average shed

 

While your yard may limit the size of shed you can buy, there are also limits as to how large sheds are even sold. At a certain point in size, sheds become garages which are significantly more expensive. Storage units encompass the full range of sizes, from lockers to garages, giving you more flexibility regarding how much you are able to store. On top of that, you can always move from one storage unit to another in the same complex fairly easily if you need more or less space, while exchanging your shed is likely impossible.

 

·      Storage units are designed to be temporary

 

Going back to the note on the permanence of a shed, storage units are meant to be temporary solutions. While some people do opt to rent storage units for long or indefinite periods of time, they are not necessarily meant to be used this way. Storage units are fantastic temporary options that give you the ability to store things in the present without the long-term commitment that is inherently required by buying a shed.

 

Disadvantages of Renting a Storage Unit as a Homeowner

 

·      Renting a storage might require a time commitment

 

One of the biggest advantages of renting a storage unit, as we just saw, is that they are great temporary options with little to no time commitment. While that is true in most cases, some storage unit facilities require longer-term contracts. For example, some storage units require tenants to sign a 12-month contract, which can make renting a storage unit very costly if your intention is only to use it for a couple of months. Before you sign a contract to rent a storage unit, just be sure to check the terms and conditions to make sure that the timeline and price match up with your goals.

 

·      Storage units do not increase your home value

 

As with anything that you rent, storage units do not increase your home value or your net worth. Renting a storage unit is strictly transactional, just like buying groceries, and it will not do anything to help you in the long run. It simply solves your problems of having too much stuff and not enough space to store it all.

 

·      Storage units are costly over time

 

Renting a storage unit for a year, in some places, can cost more than buying a comparably sized shed. While the price of renting a storage unit fluctuates heavily based on geography, a 10x10 storage unit usually ranges anywhere from $100 to $300 per month. This is equal to $1,200 to $3,600 per year. At a hardware store like Home Depot or Lowes, you can purchase a 10x10 shed for $1,500 or less, depending on the degree of quality that you would like. This means that a shed is roughly the same price as renting a storage unit for between one year to 18 months, and renting a storage unit for any longer than that becomes a financial drain. If you are renting a storage unit because of a lack of space, that is one thing. However, renting a storage unit for more than a year with the goal of saving money likely will not save much money at all, if any.

 

 

Which Is Better for Homeowners: Buying a Shed or Renting a Storage Unit?

 

 

After laying out all of the advantages and disadvantages of buying a shed versus renting a storage unit, it is probably clear that there is not one option that is universally better. Buying a shed is usually cheaper in the long-run, and the autonomy of owning a shed provides more freedom for how you use it. However, sheds inherently take up space on your property and are your responsibility to maintain, which is more of a sacrifice than some homeowners are willing to make. On the flip side, storage units are a costlier, more inconveniently located option, but they do not require you to commit to permanent ownership and upkeep nor sacrifice space in your yard. The better option for you will fully depend on your situation and your intended uses for the shed or storage unit, and there is no further way to break that down.

 

 

Thank you for reading our post on buying a shed versus renting a storage unit! Hopefully this post has been helpful as you consider how to store all of the excess things laying around your house. When the garage and basement simply aren’t enough room to store your things, you will likely need to call in backup from one of these two options! Hopefully now you understand which of these two options is a better fit for your situation.

 

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

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