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


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

You Own With

No

Debt
Projected Equity: $291,050

Assumptions:

Unit Size

wide 20
deep 50
Total Sq Ft 1000

Rental Unit:

Rent per SF
$0.90
Annual Increases
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.