16 Feb 2012

Storage industry booming thanks in part to need for downsizing

Even amidst financial hardships worldwide, one industry that continues to prove its worth in terms of stability and longevity is the self storage market. According to Inc. Magazine, the housing market has faced a huge crisis in the U.S. and Canada, but storage facilities continue to see a profit.

Some experts believe that more people have been trying to sell their homes in order to downsize and the best way to show a presentable home is to remove clutter and trinkets. These items must be stored somewhere, so many opt for convenient and safe affordable self storage in Toronto or anywhere else.

The Self Storage Association reports that there are currently 2.21 billion square feet of self storage in the U.S. alone. Inc. Magazine adds that the majority – 90 percent – of storage solutions businesses are owned by individuals or entrepreneurs rather than major corporations.

This means that when people store their belongings at such facilities they are helping working individuals just like themselves.

According to Moneyville, those looking to sell their homes in order to downsize should address how much their homes are worth in this economy, opt for an open house mid-week and try to depersonalize the space as much as possible. This way the home is open for all potential buyers. 

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