Shipping containers are a popular solution for people and businesses in urgent need for additional storage space. One question that often comes to mind is whether one should rent or buy such a container. Both are excellent options, but the response to your concern will depend on your spending plan and storage requirements.
Should you lease or acquire a storage container? In this article, we will help you find the answer by going over both sides of the argument.
Why rent a shipping container for storage?
One of the best things about renting a shipping container is that you always have the option of switching to a different one as your needs change. This is not an option should you decide to buy the latter.
By opting for a shipping container hire and storage at least initially, you can swiftly expand your precise requirements and optimise your storage needs without the burden of incurring a considerable expense. You can start with a shipping container that is of a specific size and reassess later if you need to scale down or upsize. This is generally a good idea if your need for additional storage space is only temporary and you don’t see yourself needing the latter in the future.
In a nutshell, renting a shipping container is a good idea if your needs involve the following:
- You are moving to a new place or office
- Temporary office space
- You are currently renovating your home or office and need a temporary solution for storing your property.
- You don’t have the capital to spend on a shipping container which can be quite expensive. A small 20-foot shipping container can cost up to $2800.
- You plan on subtracting the fees for your rental storage units from your taxes.
When to consider buying a shipping container?
The decision to buy a shipping container likewise has its’ share of benefits. For one thing, you can customise it by any means you desire, to fit your distinct needs. The option for personalisation choice is just one of the best things about landing an acquisition.
Whatever you need it for from mobile houses, outdoor storage, product booths and the like. You are not restricted to the modifications, devices and also personalised functions that you can obtain. When you own the container, you have far more control.
Also, when you own your container, you can ship it anywhere you want without having to worry about having to return it at a specific date. Hence Purchasing is a better option for those who will undoubtedly need the container for the long-term, as they pay one cost upfront rather than a regular monthly payment for a rental.
Investing in a container also allows you to amortise its expense over many years. Also, you have the option to acquire a brand-new or used container, relying on how low you wish to keep your costs.
Conclusion
Buying a storage container is only a good idea if you need a permanent storage solution. If you don’t expect your storage needs to change any time soon and would rather pay one-time to augment your storage solution, then you will find that a shipping container is an excellent long term investment.
