Tag: Real Estate

Why Self Storage Makes Great Real Estate

If you’re looking for a great investment opportunity, you can’t do better than self storage with cantilever racking UK. It is one of the fastest growing real estate investment classes in the world. Over the 2020-2025 period, the self-storage market is expected to grow by a compound annual growth rate of 134.79%, from $87.65 billion to $115.62 billion. The industry is recession-proof, because people always need places to store their goods. The massive opportunity in self-storage has attracted investors such as Bill Gates, who invested in StorageMart, America’s eight largest self-storage company. 

The recession-proof nature of the self-storage market is one of its most attractive features. The most important rule of investing is, “Don’t lose any money” and the second is, “Don’t forget the first rule”. You have to survive in the market before you can even think about making a profit. To tilt the odds in your favour, you need to be in an industry that is recession-proof. As we analyse the economic impact of the pandemic and the initial lockdowns, we can see that the self-storage market managed to stay afloat. According to a report by Trepp, delinquency rates on 1,700 loans for self-storage facilities were less impacted than those of loans in other real estate sectors. 

What makes the self-storage business so robust are the changes in where people live. Urbanization has intensified and with millenials moving into their own places, there is a massive demand for self-storage facilities. And people are accumulating belongings at a faster rate than ever, so that they self-storage facilities to store their things, because their rental spaces are just too small. 

Businesses have also gotten in on the act. Many businesses have had to downscale or relocate and often that means they need a place to store their things while they plan the next move or make a transition. That means self-storage facilities have an additional revenue segment they can rely on.

The rise of remote work has led to very decentralized organizational structures. Often, offices have been reduced to very small staff compliments, with the majority of the organization working remotely or working under a hybrid work model. This decentralized work model drastically reduces overhead costs and so businesses have moved to smaller offices and chosen to store their excess belongings in self-storage facilities. The difference between their initial overhead costs and the costs of managing from small office spaces and with their excess belongings in self-storage units, has led to huge savings.

Lifestyle changes are another source of demand for self-storage facilities. When people get divorced, for instance, one party typically has to move out of the house and often, move into much smaller accommodation. Where does their stuff go? A self-storage facility. Between March and June this year, the divorce rate went up 34% compared to 2019. The pandemic’s impact on livelihoods, marriage, and other aspects of human life, have forced many Americans to make major lifestyle changes that often necessitate the use of self-storage facilities.

Remote work is another source of demand. When your job and where you live no longer need to be in the same space, people often choose to leave big cities for smaller ones or even rural life. Where do their things go? Into the best portable storage pod they can find. 

Tips For Finding The Right Estate Agent

It doesn’t matter if you’re buying a new property, or selling your current one, you really do need to find the right real estate agent, to complete the whole process for you. Property prices have been rising steadily in Australia over the years, and they don’t look like they’re going to slow down any time soon. This is why it is essential you have an expert on your side, negotiating on your behalf, and trying to get you the best price for your property, if you’re selling, or get you the best price for the property, if you’re buying. Having the right estate agent, could be the difference between spending additional thousands of dollars on the property. It really is that serious, and so it is something that you need to take seriously.

It’s all about finding the estate agent who has the relevant experience, who was sold or bought, numerous properties over the years, and who doesn’t charge you an arm and a leg for their services. Trying to find such a person by yourself, would be an almost impossible task, but if you turn to a reliable source like LocalAgentFinder in Buderim, then you will find all of your answers. This fantastic service provider tells you absolutely everything you need to know, about the local estate agents who operate in the area in which you wish to purchase. It provides a wealth of information, that every buyer or seller, needs to know, before they make a decision on who their estate agent is going to be.

You can combine this information with the following tips, to help you choose the right estate agent for your next enterprise.

  • Do your research – Even when you get all of the above information from LocalAgentFinder, you still need to do your own research. Look online for websites where customers go to comment on their experiences with estate agents in that area. If there are any negative comments about a particular estate agent, then you know to stay well clear. Talk to people who live in the neighbourhood where you want to buy, and ask them about their real estate experiences, and who it was, that found them their property in this particular area.
  • Choose local – It is better to choose an estate agent who knows the area in which you are looking to buy a property. He or she needs to know immediately when new properties come on the market, so that you can get in early to make a bid, and hopefully be successful. They need to know the properties that haven’t been taken care of, and if it needs essential roof maintenance, that is going to cost you a pretty penny, if you decide to buy. Your agent should be aware of the local scene, and be able to assess properties, and compare them with other properties. If you want to find out more about agent obligations with regards to local government rules, then you can find additional help online.

It is important that your estate agent can communicate and talk with you, and so you need to be comfortable with their particular communication style. It is important that they are a good listener, and whether or not they are friendly. When you meet them for the first time, were they welcoming, and if they seemed like they wanted your business. Using the above tips should help you to make an informed decision.