Discover Ryan's Shed Plans and Woodworking Projects (new window)
Discover Ryan's Shed Plans and Woodworking Projects (new window)
Discover Ryan's Shed Plans and Woodworking Projects (new window)

Backyard Storage Sheds – A Cost Effective Alternative to Self-Storage

Have you found yourself with more stuff than space to store it in? If you’re considering taking your stuff to a self-storage facility, you may want to reconsider. Backyard storage sheds are a better use of your money over time. Following are 3 reasons to look into building a backyard storage shed instead of renting space at a local storage facility.

1. Cost

Now on the surface, it may seem much cheaper to rent storage space instead of building it. While that’s true initially, it is not true of the long haul. Let’s consider some numbers.

Monthly rental rates for self-storage facilities vary widely due to location and other considerations, so always take the number you use from the facility you are considering using. I’ve seen rates vary from $0.50 per square foot per month to as much as $2.00. For the purpose of this example, let’s use a middle of the road number like $1.25 per month per square foot. Let’s say you’re looking at renting a 10X10 space, which comes out to 100 square feet. Your annual cost per square foot is $1,500. (100 sq.ft. X $1.25/sq.ft./month X 12 months)

Now let’s look at the cost of building a backyard storage shed. Again, the numbers here can vary widely because of the design of the shed, the type of lumber and materials used, etc. But you can expect to pay from $2,000 to $5,000 for a 10X10 shed, whether it’s built by someone else or by you. Let’s use a middle of the road number like $3,500 for this example.

So, on the surface, it’s obvious that the storage facility is less expensive. But are you really only going to need extra storage for a year? My guess is that you will always need that extra storage. So let’s use a number like 10 years to analyze the costs. A storage facility will cost around $15,000 for ten years. A backyard storage shed will only cost you the initial cost of $3,500. Now which one is less expensive?

Granted, there are maintenance costs for a backyard storage shed, like paint. However, how likely is it that the rent for the storage facility will stay flat over 10 years? I’ve ignored both of those items for this example, but you can see that a rental increase is probably going to be more than the cost of paint over ten years’ time.

2. Usefulness

When renting a storage facility, you will be at the mercy of the operator of that facility as to when you have access to your stuff. A few places offer 24 hour accessibility, but rates at those facilities tend to be more. When you have your own backyard storage shed, you can have access to your stuff whenever you want.

Additionally, if you have mowers, snow blowers, bicycles, and other large and bulky items, how easy is it to use a storage facility for those items? You’re certainly not going to put any of those items in a storage facility (except maybe the bicycles during the winter). But with your own storage shed, you can store those items in it and have access to them year-round.

So the overall usefulness of a storage shed certainly outweighs a storage facility.

3. Expense vs. Investment

Finally, let’s consider the nature of the financial expenditure you make for storage space. With a storage facility, your monthly rental is an expense. It’s not an asset that you can sell or transfer to someone else. It’s just money out of your pocket every month.

With a backyard storage shed, it’s an investment. Yes, it is an expense when you shell out that money initially. But the fact that a storage shed will last many years and will add value to your property and home makes it an asset. You could sell it separately (if it’s built on skids). And it certainly will be an added benefit to your home if you decide to sell your home. (After all, who doesn’t need extra storage space?)

I hope you can see that if you’re in the market for more storage space and you’re a homeowner, the best choice is in building a backyard storage shed.

Backyard Storage Sheds – A Cost Effective Alternative to Self-Storage

Technorati Tags: , , , ,