How to Budget for Self-Storage

Before settling on a self-storage unit for your belongings, you’ll need to ask (and answer) yourself the following questions:

Why do I need a storage unit?
What am I planning to store?
How long am I going need the storage space?
Will I be accessing my items on a regular basis?
What unit size is right for me?

Why are those questions important?

Because they can help you properly select – and budget for – the Ten Mini Storage unit that’s right for you.

Why do you need a storage unit?

Knowing the reasons behind your storage unit will go a long way towards establishing a budget.

Are you:

Moving to a new home? If so, then you might need a secure storage rental space for a few weeks to a few months at the most.
Downsizing? If you’re downsizing and looking for a safe place to store those items you want to keep, then you’ll probably want a long-term storage rental.
Going away for school? If you’re going to school, then you’ll need a storage unit that’s available for the duration of the school year.
Undergoing a significant life change? Whether it’s divorce, coping with death, or something else, you’ll want an open-ended rental until you decide what to do next with your life.

What are you planning to pack and store?

Once you know why you require self-storage, the next budgeting step is to determine what you’re planning to store.

For example:

You’re going on an extended vacation and need to store your motorcycle. You probably want to keep it indoors and out-of-sight, so that precludes using outdoor storage.
Maybe you’re a senior citizen who requires a storage unit for special family furniture. In that case, you might consider a convenient, easy-to-access drive-up unit.
Perhaps you need commercial storage for your business electronics. If so, you might want to check out heated, or climate-controlled, storage.
Going to store furniture during a home renovation? You’ll want a large enough storage space so you can keep your couch, chairs, tables, etc. away from the door.

For many people, when looking for self-storage, all they want is a “place to store their stuff.”

However, by sitting down and really thinking about what you plan to store, that’ll help with your budgeting plans.

How long will you need the storage space?

As mentioned earlier in this blog, knowing why you need a storage unit directly leads to how long you’ll require it for.

Here at #10 Storage, our storage units are rented on a 4 week cycle (as opposed to monthly billing).

So let’s say you need self-storage temporarily while undergoing a home renovation. If the job is expected to last 3 months, then you’ll need a storage space for 12 weeks.

And let’s assume you need to rent an 8×10 storage space (which is available at $135/4 weeks).

Doing some simple math:

$135 (rental cost per 4 weeks)
3 (number of 4 week cycles you need the unit for)
$135 x 3 = $405

Now, if you want to get really detailed, you can even break that down on a weekly basis:

$405 (total rental cost)
12 (total number of weeks you need the space for)
$405 / 12 = $33.75

To summarize: If you needed an 8×10 storage unit for 12 weeks, it would cost you $33.75/week for a grand total of $405.

Click here to view pricing information for all available unit sizes

Will you be accessing your items on a regular basis?

Again, this goes back to what you’re storing and why you’re storing it.

Let’s say you’re a very busy independent contractor who needs safe, reliable tool and equipment storage. Chances are you’ll be accessing your storage unit on a daily basis.

In that case, you’ll want a unit which allows you to run in, grab what you need, and run out.

Now, if you’re using self-storage on a seasonal basis (such as putting away your Christmas decorations after the holidays or storing patio furniture for the winter).

In this case, you’ll only be visiting your unit a few times a year and you’ll probably want to spend some time in there when you do.

With this information in hand, you can go on to perhaps the most important self-storage budgeting step…

What unit size is right for me?

There are two common mistakes people make when choosing the right-sized storage unit for their needs. They either:

Select a unit that’s too small (which could damage their belongings and may require renting additional units).
Pick a unit that’s too big (and end up paying for space they don’t really need).

You may look at the stuff you need to store and think “there’s no way I can fit all that inside one storage unit.”

But the reality is, storage units can hold more than you realize.

For example:

10×10 storage units can hold your family room, two bedroom sets and a few boxes too.
5×10 storage units can safely contain a dresser, dining room suite, and a mattress set.
10×30 storage units are capable of storing the contents of a 5 bedroom house.

Just remember when picking a self-storage unit size, you’ll want to give yourself enough room to safely and comfortably move around in there.

Click here to view all available unit sizes (and their holding capacity)