Using Storage Buildings For Housing

Many people are facing serious financial crisis. It is an unfortunate sign of the times, but a lot of people are having to seriously downsize, and some are taking some pretty drastic measures to cope with the problems of housing loss due to mortgage problems, and job loss. If this is happening to you, don’t feel all alone, because it is happening everywhere, to thousands, even in communities that won’t admit that there is a real estate or job market problem.

Many are taking control of the problem by providing themselves with temporary housing that they can pay for up front, or “rent to own” for just a fraction of what a mortgage payment would be.

Some thrifty folks are buying portable utility buildings, often known as storage sheds, or storage buildings, adding the necessary accessories, and living in these units while they get the family finances in order.

Why not? Portable utility buildings can be larger than many efficiency apartments, are much cheaper, and after the crunch is over, the owner will have a nice apartment to rent, a guest house, or use for other purposes.

Storage buildings, or utility buildings manufactured by the better builders in the business, are not far from being completed homes to begin with. Most of them are past the point that would be known as the “dry in” stage, and are ready for adding electrical, insulation, and other accessories, and some suppliers offer those services as well. It is a perfectly practical and reasonable course of action.

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Storage Tips Rent to Own

There are a lot of ways to finance a storage building , and there is one perfect for your situation. One of the best ways for many people is Rent to own. A lot of people have questions about just how that works. I had someone call me the other day about rent to own. The person on the line had heard that rent to own was, well, she couldn’t make herself put it bluntly, so I finished the statement for her: “You are wanting to know if it is a scam?” I asked politely. “Yes!” She said, in a way that showed an element of embarrassment and surprise!

Wrong information

There is apparently some bad information floating around on the subject, so I thought I would address that here. No. Rent to own is not some kind of scam. It is a perfectly viable way of renting or buying. I can’t speak for everyone, but the programs with which I am familiar are good programs.

Rent to own and interest

First of all, there is no interest on rent to own. you are paying rent for a building, and part of that rent, usually about half of it, goes toward the purchase of the building. Rent to own payments are very similar to what you would be paying for renting an equivalent amount of storage space from one of those self storage, or mini storage public storage facilities. The major difference is, that when you complete your contract on rent to own, you actually own the building, and it is setting on your property!

Early pay off

Many people choose to pay off the building early with income tax return money, or some windfall. This will save quite a bit on rental payments, since you would be paying for the building and not the rent if you pay it off. There is no penalty for early pay off. There is no credit check, and no credit damage for default. Since you are renting the building, you can call the company and have them pick it up, and your credit will not be hurt.

Storage buildings Rent to own

Financial uncertainty is a fact of life in today’s economy, and unlike the perfect world sometimes offered by on screen entertainment, most people do not have perfect credit. There are a lot of reasons why, some may be the result of difficult economic conditions, and some may even be of our own making. Everyone makes a mistake or 2 in life, and that doesn’t mean that we should be ground into fiscal dust. In a perfect world, we wouldn’t have credit rating problems, but in a perfect world, we wouldn’t need credit to begin with. The world is not perfect.

Storage building financing

So, what can we do when the need arises for a fairly large purchase, and our creditors say no? We could always save our money until we have enough cash to purchase the product, but it takes a while to save a few thousand, and time can be our enemy, especially if we need the product for the purpose of making and saving money.

There are always options like loan companies, who can eat your financial lunch when it comes to interest, and you have to be careful when it comes to the way the interest is structured. In some cases,  the interest may be as costly as the purchase, and there may be no way of paying it down ahead of time, and no route of escape if something goes wrong. Similar problems may exist with credit card purchases.

Storage buildings rent to own options

There is another option. Rent to own. In the rent to own system, you are paying for rent and ownership. You are not paying interest.

If you are paying 75.00, 100.00 or more per month for storage, you can find an equivalent amount of storage space in a portable storage unit, and rent to own for about the same price. The big advantage is that you will be paying for something that will belong to you, and you won’t be throwing those dollars away! Throwing away dollars makes no sense! Neither does driving all over the country to get something that you need from storage, when you can just walk into your back yard to do the same thing.

There may be other advantages to storage building rent to own programs. If you use your home as a base for your business, and if you use your storage building as a place for storing building supplies, an office, or a business work shop, you may be able to write off the cost of the rent as a business expense. When it comes to storage buildings, rent to own can make a lot of sense for the home business.