Own vs. Rent
Personal Storage Ownership brings renting storage a past thought. Own your space
and capitalize on the benefits of ownership. Be a part of a Garage Club community
that provides great amenities and services located in the convenience of your city.
Rental:
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
Monthly
$900 $963 $1,030 $1,103 $1,180 $1,262 $1,351 $1,445 $1,546 $1,655 $1,770 $1,894 $2,027 $2,169 $2,321
Annual
$10,800 $11,556 $12,365 $13,230 $14,157 $15,148 $16,208 $17,342 $18,556 $19,855 $21,245 $22,732 $24,324 $26,026 $27,848
Ownership
Loan Payments
$973 $973 $973 $973 $973 $973 $973 $973 $973 $973 $973 $973 $973 $973 $973
Taxes
Insurance
HOA
$195 $201 $207 $213 $220 $227 $234 $241 $249 $257 $265 $274 $282 $292 $301
Insurance
HOA
$195 $201 $207 $213 $220 $227 $234 $241 $249 $257 $265 $274 $282 $292 $301
Monthly
$1,168 $1,174 $1,180 $1,186 $1,193 $1,200 $1,207 $1,214 $1,222 $1,230 $1,238 $1,247 $1,255 $1,265 $1,274
Annual
$14,020 $14,092 $14,164 $14,236 $14,320 $14,404 $14,488 $14,572 $14,668 $14,764 $14,860 $14,968 $15,064 $15,184 $15,292
Total Payment: $271,393
No Equity
No Equity
You Own With No Debt
Projected Equity: $291,050
Projected Equity: $291,050
Assumptions:
Unit Size
wide
20
deep
50
Total Sq Ft
1000
Rental Unit:
Rent per SF
$0.90
$0.90
Annual Increases
7.00%
7.00%
Owned Unit:
Cost Per Foot
Purchase Price
Down Payment
Amount Financed
Loan to Purchase Price
Years Amortized
Interest Rate
$140.00
$140,000
$35,000
$105,000
75%
15
7.50%
25.00%
HOA Dues
Property Taxes
Insurance
Property Appreciation
$50.00
1.1%
$300.00
5.00%
2.00%
5.00%
5.00%
Please Note: This analysis does not consider using the UNIT for business purposes.
There is no consideration given for interest deduction or depreciation.
There is no consideration given for interest deduction or depreciation.