Category: Downsizing

  • To Store or not to Store, that’s the question?

    To Store or not to Store, that’s the question?

    With the downsizing of single family homes and rents hitting the ceiling, in the Delhi/NCR region, it makes more sense to either sell or store your household items and corporate inventory in cheaper and secure self storage facilities. I have, too often, come across friends living in apartments using their study or one bedroom as storage space. What a waste of rent and space! It makes more sense to either sell these items (if you’re not planning on using these anyhow) or store in a facility that keeps your goods in tip-top condition with hassle-free service. SelfStorage Warehouse India has unique storage spaces/ units to suit everyone’s budget and expectations. We are located in the heart of Noida and Gurugram and are easily accessible due to our proximity to National Highways. SelfStorage Warehouse Pvt. Ltd. helps you with all your personal and corporate storage needs and facilitates from packing and moving, from start to finish, so you can spend your valuable time doing more of the things you love.

  • Saving additional INR 18,000 of home rental with self storage

    Saving additional INR 18,000 of home rental with self storage

    Self-storage is still a new concept in India. The idea of renting storage space for your goods which can be shoved into the back of cupboards seems frivolous and unnecessary to most. Why not save that money and buy new stuff to cram into corners again, right? However, there are many benefits of self storage with the primary being that it is a cost-effective solution and can actually save up on home rental costs. How? Here’s a story to illustrate that: A family of three, comprising of Rohit (the husband), Shalini (the wife), and Frodo (the adorable golden retriever), were living in Faridabad in a 3 BHK, measuring 1810 sq. ft and paying a rent of INR 15,000 per month for it. Rohit’s office was located in Gurgaon, and the commute took him 1 hour 18 minutes. To save up on travel costs and time, the couple decided to move to Gurgaon and got an 1800 sq. ft house in Sector- 22 with a rent of INR 38,000. The rent seemed too much because one room in the house was solely dedicated to storing books, old stuff having sentimental value, gym weights, now-unused bicycles, and other riff-raff. On the surface, it seemed like a battle between prized possessions and lower home rental costs. That was until Rohit discovered Self Storage India. He got in touch with the team, and they told him how he could store his possessions in one of their warehouses in Gurugram. His items would be 100% safe, they assured, and he would have his lock and key. After visiting the facility, the decision seemed clear. Rohit and Shalini moved all of their extra stuff in a private room at the warehouse which cost them INR 3500 per month. Concurrently, they changed homes and now live in a 2 BHK house where the rent is INR 17,000. Cutting down one room and availing self-storage services saved Rohit and Shalini INR 18,500 per month which they happily and freely invested in other things and activities. This isn’t a unique story of a single couple. So many people have to move into a bigger, expensive flat in the city just because they have too much stuff and do not want to throw it or give it away. The burgeoning home rental costs (landlords are all too quick to up the rent after one year) is a major financial worry. On top of that, the number of items in the house keeps on increasing, and even the expensive space starts getting smaller now. If you opt for a self storage facility like Self Storage India, you: Can shift homes and offices easily when the rent gets too high without moving and packing too much stuff. Save and store your sentimental possessions without making your home cluttered. Store your stuff in the best hands because a self-storage facility’s primary task is to safeguard your items. And of course, Save up on home rental costs. Especially if you live in a bustling city like Delhi, Noida, Gurugram, Mumbai, or Bangalore. If you resonated with any aspect of the story, would like to save up on costs, and want more breathing space for you and your possessions, then visit one of our facilities in Noida or Gurugram, or read up on our services here.

  • Seven reasons to downsize your home

    Seven reasons to downsize your home

    You have it. The big flat/ mansion/ castle of your dreams. Except that living in it is not exactly a dream. You didn’t know maintaining the property grounds would be this hard. Plus, there is the worry about possible thievery and sneaky children who want to pluck jamuns off the trees. You dream of a loft or a smaller apartment. If you are in this phase, great going. We urge you to follow your dream of a smaller abode. And for those who haven’t quite reached here yet, we list practical reasons to downsize your home (literally bringing down the size of your house) is a good idea: 1. Less time for chores The bigger the house, the more time you need to maintain it, clean it, dust it off, wipe it. And the more money the maid demands! Solution? Move to a smaller property, free up your time, and save money that you can spend on buying something tasteful for your new abode. 2. Environment-friendly Yes! Mother nature will thank you for your sensitivity. A smaller dwelling means less energy usage and reduced carbon footprint. With the current global environmental scenario, each effort counts. Save money for kids If you are married with kids or are planning to have them, the money spent on a big apartment can be saved up for the kids’ (expensive) college education. 3. Save money for retirement After enjoying your wealth by spending it for a few years, it is time to get serious about saving up for your retirement. You can add to your retirement fund by opting for a smaller abode which will also be easier to maintain once you permanently leave your career. 4. Save money for travel To slake their thirst for travel, some people go so far as to live in camper vans which they then customize and decorate themselves. This shelter on wheels not only looks gorgeous but also provides mobility which would not have been possible through a brick-and-mortar house. 5. Cut down on daily costs If the increasing number and amount of bills are getting to you, then move to a smaller home asap. Not only does it mean reduced electricity and utility bills, but you also get to save up for other simple joys like more trips for desserts and a yearly subscription to National Geographic which you can renew. 6. Pay off your debts With the money that you get after selling your big apartment, you can get rid of any and every debt or loan that might’ve been burdening you. Imagine the freedom and lightness of such a lifestyle. A house is just a mass of bricks piled up in a certain way. The main thing is the feeling of home that it evokes which is independent of size. Nevertheless, for each reason listed above, we urge you to research thoroughly by taking all expenditures and factors into consideration. And finally, if you do decide to downsize, have a happy house-warming party! And you can move all your extra furniture into a self-storage facility!

  • Why Millennials Prefer Renting Instead of Buying — And 8 Reasons Why It Works for Them

    Why Millennials Prefer Renting Instead of Buying — And 8 Reasons Why It Works for Them

    Millennials tend to do their own thing; dependent upon only their whims and wishes. They make their own career choices, live as they please, save as they plan. They are in direct contrast (and sometimes rebellion) of the older generations. ‘It’s just who we are,’ they say. Another factor that differentiates millennials from older generations is that they prefer renting homes instead of buying. Even those who are approaching the last leg of their millennialism are sometimes found to be renting instead of buying their own home. Renting Instead of Buying, Why? Why is this? Why do millennials have such a fondness for renting instead of buying? Below, we list some of the possible reasons: It is cheaper Buying a house doesn’t only involve the cost of purchase. Individuals who are considering purchasing a home must first evaluate the property value and the required funds necessary for any potential repairs needed during the time of purchase. Repairs can be very costly. Other factors involved when buying a house include home insurance, property taxes, and closing fees. In short: a whole lot of expenses. As such, 4 out of 10 millennials cited affordability as a primary factor in the “renting versus buying debate.” In a survey, 57% of millennials said affordability was the top factor why they would choose to rent. Renting is cheaper and leaves money for gas, food, and other luxuries. Buying a house is shelved as a ‘long-term’ plan. It is flexible Most millennials are heavily career-oriented and are ready to change cities if it means better job prospects. In such a situation, the home of one’s own would be a liability. One would be paying double – one for the rented house and the other for the purchased one. Or have the headache to sell a home, store all the furniture or valuables and then buy a new home in a new city. Millennials value freedom and renting a property can cultivate this freedom. They can move after their lease is up or even before it. They can leave everything to travel abroad or shift from one end of the country to another for a job. All of these scenarios are possibilities, and it means an individual is unbound. It is providing millennials with great ease of mind. I am pursuing/ might go for higher studies After working at a job for one or two years, most millennials choose to go for a master’s degree and increase personal value in the market by enhancing their skills. Some stay in the country while others fly off overseas. Most of them are aware that the possibility of changing cities for higher studies is highly likely. Such uncertain circumstances lead millennials to rent a house. Once someone of this generation decides to enroll for higher education; college fees need to be paid along with buying textbooks and other necessary equipment. Also, job placements or an internship after the completion of the degree might require them to change their home base. Hence, they refrain from buying a property that would only call for more expenses or root them down in one place. It’s the only way I can afford this neighbourhood There are particular areas in every city where every person desires to live one day. The possibility of buying a house in such a domain can seem exceptionally far-off. Many times, the most desirable area to locate the best available jobs also may happen to be the most expensive area. So, millennials go with the more comfortable and more doable option, which is to rent a home in the neighbourhood. This way, they get to live where they want to for as long as it is possible, without blowing a hole in their pocket. I don’t have to worry about home maintenance Ten percent of the surveyed millennials quoted this as the reason for renting instead of buying. After all, who likes to fix a clogged toilet or mend an overflowing pipe? Early on in their career, millennials do not want to have to worry about maintaining a house and paying for the expenses that maintenance brings. I can upgrade any time I want Whether in terms of a job or another house, millennials want the freedom of going (and getting) the next best thing. They can changes apartments easily in case they find a better one in terms of aesthetics, location, or rent. With a rented house, they can also change jobs quickly. They are called the ‘job-hopping’ generation, who want to try different lines of work and roles before they finally settle down. Many expect an increase in their income or the level of the opportunity offered, and hence, want to be ready to do whatever it takes for it. A purchased property does not allow this freedom for obvious reasons. Therefore, millennials choose to rent. I don’t want debt Most millennials might finish their undergraduate and postgraduate studies with some level of debt and might be paying it off even as they start their jobs. Buying a house, thus, would only feel like a burden instead of a joyful affair. Less debt also ensures the feeling as though the individuals can save something and have a higher monthly cash flow. I am not concerned about the status of my house For older generations, the measure of success was how well-settled they were in their careers, in their families, and their savings. For millennials, the measuring stick is a little different. Most individuals of this generation don’t place much value in a house of their own. For them, it’s more about the connectivity, convenience, and security of a neighbourhood. They want to be able to commute quickly between their home and office and have basic amenities (like the gym and a salon) close by. Everything else becomes inconsequential. Conclusion The consequence of this housing behavior of millennials is that many residential developers in cities like Delhi NCR are at a loss as to why their projects aren’t taking off. They assume the market must be slow; in reality, the millennial market is not interested. They don’t have the same plans and buying habits […]