The Money Pit of Self-Storage I recently sold a couch for $1000 that had been in storage for over 25 years. It was a good couch, it was mid-century modern. My client had spent over $20,000 in storage costs. The couch was not worth $20,000 at any point in its life. I almost never recommend that my clients put their belongings in storage. The only exception is when there is a very short range plan to retrieve the contents. Self-storage is a money pit. Within months, the value of the items stored is eclipsed by the cost of the unit. So, why do people keep things in storage? Here are some reasons. • They seem useful. But, if they are in the storage space, they are not being used. Do you use one set of plates? Then what about the other 2 in storage? • They are worth something. Yes, you paid a small or large amount for the item, but paying more to store it, doesn’t make it more valuable. It may have increased or decreased in value since you bought it. That is reality. • They give us pleasure. It’s hard to derive pleasure from items that you have forgotten are in the storage locker. • They are aspiration clutter. “When I have time or retire, I will read these books, paint with these water colors, use these woodworking tools……” • They represent us. We believe that our stuff IS US, and that by giving it up, we will lose part of ourselves. • The items were gifts. You feel a social reciprocity to the gift giver, even though you don’t want or like the item. • The possessions belonged to deceased relatives. Honoring the memory of your loved one does not necessarily mean that you must keep their belongings. What if you took pictures of the items rather than keeping them? Thinking ahead, do you want your children to keep your china, glassware, and furniture in storage indefinitely even though they won’t use them? • Conservation. You don’t want to throw things out because it seems like a waste. Many things can be donated. Some cannot. Are you not wasting money by storing them? • Because you can. You have the money to pay for the storage space, or room in an attic or basement. What keeps people from cleaning out their storage spaces? • Inertia. Out of sight, out of mind. Auto payment on your credit card. • Value. You don’t know what the stuff is worth, and don’t know who to ask. You are afraid of giving away something valuable • Overwhelm. The job just seems too big, or too emotional. • Embarrassment. You need help but you don’t want anyone to know how much you’ve spent on storage. • Time. You can’t seem to find the time to do this with your busy schedule and family commitments. • Cost. Paying for help to clean out the space seems indulgent, but you continue to pay for the monthly storage, year after year…… Judith Moves You can help. We will do the physical labor. We will help you disperse items that can be sold or donated. We will arrange for items to be to be carted that have no value (this includes National Geographics and encyclopedias!) We will do all this with compassion and sensitivity. We will give you permission to throw things out. Is 2019 the year to get rid of the emotional and financial burden of your storage space? Call us today to get started. |
Judith Kahn member
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