Are you thinking of selling your house and moving? How you can utilise Self Storage units to save money.
So you’ve got the seven-year itch, or you’ve noticed things are starting to move along in the economy and now is a right time to scale up or downgrade. You’ve decided to have a sea change and fulfil that long-held dream. You know a home move is going to cost you money, and you will need to sell your house first in order to buy a new place. There is so much to do and contemplate. Saving money is at the forefront of your mind. After all, with Covid 19 still in the big picture of the world’s economy, life is pretty unpredictable.
If you have ever bought or sold a house before, you probably know it’s a big event, can be stressful, and there is a lot of planning that takes place before the action starts. Maybe you have never needed to rent a storage unit. Now might be the right time. The following factors can determine how and why renting a storage unit could be right for you.
Usually, in order to buy your dream residential, rural or business property, you would need to sell your existing premises first. In our current property market, sellers are looking for finance ready buyers. Home loan Interest Rates are low and expected to stay this way for some time, but not forever. You can make an attempt to make an offer on your desired house land and or building, subject to the sale of your own property. You will be very lucky for this option to go smoothly and within the time limit, the sellers ask for. Even before you put your home on the market, a storage unit will come in handy to do a fast and efficient declutter of your home. Proven statistics show that sparse staging sells fast and creates a calm and stress-free vision for a prospective buyer.
Planning keeps your stress levels lower
Planning can go even further. Sell your home now why the market is steady, placing your funds from the sale into the bank. Utilising self-storage units to store your furniture now, why you hunt for the perfect home, building or land. Of course, I know, you might need somewhere to live in the meantime, for a short time, and this is where your planning would come in. If you can organise a cheap rental or a friend or family place to move to would be the ideal solution, and this would be set in place before you sell. So basically, three steps.
- Organise a cheap rental or organise to board with family or friends.
- Rent the self-storage unit to store furniture and belongings to declutter.
- Sell your immaculate staged home, building, apartment.
- Place funds from the sale into the bank
- Keep your storage rental until you have purchased your new property.
The above options are just one way you could plan your new move.
Do you have spare cash?
Now, if you have the spare cash, you could also purchase a new property, move into a new place and sell your home later. Freeing up your ability to purchase the premises you want without having to rent somewhere else.Renting a self-storage unit to declutter your home will be a smart move for a quicker sale of your home once you have moved to the new place.
A third option would be to access the equity in your current home loan. Using the equity in an investment property to buy a home works pretty much the same too. The equity from your home or investment property can be used as a deposit on a second property, while your current property becomes security on the new debt. Using equity allows you to buy a second property with no cash deposit. You can then either rent out your first home and keep them both. Or sell the first home once the new home is purchased. Utilising a self-storage rental unit will still come in handy to declutter.
Talk to your financial institution
These are just a few suggestions that won’t work for everybody, it depends on your circumstances, and there are plenty of options out there. You may have some ideas of your own that have been proven to work better. We are open to your comments. Speak to your bank and financial advisors for expert advice.
You can book and sign-up here. It’s so easy and there are NO lock-in contracts. Our storage agreement is accessible on line.
Debra at Dolphin Storage can help with any questions you may have to do with your self-storage needs.
Call Us Today | 0403 503 519