5 Ways In Which Self Storage Can Help Millennials Achieve Their Goals

About 30% of millennial renters are using self storage, according to one of our surveys — and for good reasons, as self storage fits the millennial lifestyle quite well. From help during relocations to providing a safe place to put hobby-related items, renting a self storage unit can offer plenty of benefits to millennials. Here are just some of the typical millennial life experiences that are easier to deal with by using self storage:

1. Buying a fixer upper

Millennials now make up about 43% of all homebuyers, according to the National Association of Realtors, with 81% of younger millennials buying their first homes. Even with home prices starting to cool down a bit, millennials are still experiencing an incredibly tough and competitive real estate market, which often means they are hunting for cheaper options, like fixer-uppers. Buying a house that needs extensive work can be a rewarding, albeit complicated, project. It can take months or years until all the work is done, especially if, in typical millennial fashion, a lot of it will be DIY. Keeping the bulk of your furniture and other belongings in self storage until most of the remodeling is done helps in two ways. First, doing work around the house is easier if the rooms are not fully furnished. And second, belongings can be damaged during construction work, so it is better to keep your valuables safely in storage. A 10’x10’ storage unit can hold belongings that would normally fit in two compact bedrooms or a living room. If you need more space, you could consider a 10’x15’ storage unit or even a 20’x20’ unit. The average national street rate for a 10’x10’ storage unit hovers around $126, with larger ones naturally being more expensive. Prices also vary significantly based on location — so check out self storage costs and availability in some of the country’s major cities.

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2. Living with extended family or a roommate

While some millennials are climbing the property ladder, others are living in multigenerational homes or sharing their space with roommates. In such situations, the storage space at home is rarely sufficient for all the storage needs of people living there. Renting a self storage unit not only allows you to store belongings you don’t need on daily basis (out-of-season clothing, camping equipment, books and so on), but it also grants you privacy regarding your stuff, which is something hard to come by when living with other people.

3. Practicing the digital nomad lifestyle

Fully remote jobs are now far easier to come by, which is the reason many employees can realistically consider trying out the digital nomad lifestyle. As millennials are, in general, more attracted to traveling and new experiences than older generations, the new reality of being able to work from anywhere is very appealing to many of them. If you’re one of the millennials who set their hearts on living and working out of an RV for a while, or even want to work abroad, then you also need a safe place to keep the bulk of your belongings while you are on the road. A self storage unit is just what you need. You can get one as small (or as large) as you need. The lease for a self storage unit is on a month-to-month basis, which means you have flexibility, and you won’t be stuck paying a bill for the unit if you decide to return from your digital nomad adventure sooner than you had planned.

4. Turning to minimalism

Minimalism as a lifestyle is capturing the interest of plenty of millennials, and for a very good reason: the idea of living with fewer material possessions, thus freeing up both time and money to spend on things you’re passionate about, is very appealing. Part of a minimalist lifestyle involves limiting your living space — which can bring serious financial benefits, particularly to those residing in major urban hot spots. However, this also means that there simply might not be enough space at home to store everything you own and enjoy a neat and tidy environment at the same time. Self storage can help you achieve a minimalist home décor (and lifestyle): store those possessions that you use only occasionally (but still need and can’t do without) in a storage unit located close to your home.

5. Practicing your hobbies

From knitting and Lego-building to cycling or candle making, millennials are into all sorts of activities and hobbies (and sometimes even turning those hobbies into side gigs for extra money). However, hobbies generally involve some sort of equipment and materials — unless collecting is your hobby, in which case it involves not some, but lots of items. And if you don’t want your home to be taken over by your hobby entirely, consider renting a self storage unit for your treasures. A climate-controlled self storage unit is an ideal place to keep things like collectibles (Lego sets, comic books, vinyl records, antiques), musical instruments, or expensive equipment of any kind.

What else have you used a self storage unit for before? Let us know in the comments.