Do you think this is a good deal?

[wincrasher]

I'm not allowed to store my boat and RV at the house. Against the HOA rules.

I found a storage facility near the lake I often go to - about 40 miles from the house - that has totally enclosed storage.

For $3300 a year, I can get 2 bays that are 14 x 48' long, each with a separate 14' high roll up door, electrical outlet and lighting. They are not air conditioned, but are ventilated.

I looked at building a building about this big, but with the land and other costs, it's alot of money - probably around $100-150k.

For the boat, this seems really convenient. Just have to pull the boat a 1/2 mile to the lake and back. For the RV, it's a bit inconvenient. But I know of no other rental space that big in my area.

Thoughts?

[disneysteve]

For $3300 a year

Thoughts?

My thought is to remember to never buy a boat. And I keep telling my wife that when I retire, I want to buy an RV and travel around the country. Maybe I need to reconsider that.

Wow. $3,300/year is almost 5 mortgage payments for us.

[maat55]

Not near enough information. How much do you use it? How much of your budget will it cost? How much is the boat worth? Do you use the boat anywhere else?

[wincrasher]

How much I use these items is not really relevant. I enjoy using them and think they are worth keeping.

FWIW, the RV is worth about $85k and the boat is only worth about $5k. I may buy a new boat this season, which could also fit in here, that will cost $45-50k.

The choices are have them sit in a field and deteriorate, rent a space, or build a space.

The question is is 1344 square foot of warehouse space for $3300 a year seem reasonable?

[jefffou]

Win,

Seemed high to me, too.

But according to this page it doens't look that bad. At least not for the indoor storage.

Outdoor storage drops off quite a bit, is seems. You could consider that.

I guess the right question to ask is, "Is $3,300 < or > than the annual value depreciation caused by the outdoor elements?"

An outdoor storage facility may be the best trade-off between the two. At least you would keep the sun and rain off the top of the RV and boat. I suspect this is the biggest "deteriorator" of this kind of equipment.

My $.02

[wincrasher]

jeffou - you may be right. On the other hand, time spent cleaning and polishing should be greatly reduced, since they are basically out of the weather entirely. Also, with the lights and outlets, I could work on my "toys" in the evenings.

I think I'm pretty solid on not building my own building though. I could rent for 20 years at this rate and not spend half what a building would cost.

I've been investigating other rental units and can't find anything this nice. Much smaller units are available, but 1/3 the space is 1/2 the money.

[irmanator]

did you know the place wouldn't let you keep your things there before? I'd move mostly because I don't take kindly to people telling me what to do on my own property. JMHO

[snafu]

We've stored a smaller RV at a friend's acreage for $0. We did buy a cover which is like a rainproof tarp 'tent' for a few hundred dollars. We always put several 'Bounce' sheets under the hood and in the upholstery to keep out vermin.

[wincrasher]

I signed my lease and picked up up my keys. Looking forward to getting my stuff in there. I also found a shop nearby that will come and pick up my boat, do service, and return it to storage.

FWIW I did know before I bought my house, that I couldn't keep RV's, boats, etc there. That's part of the appeal of living in a community with an HOA. Some people don't like it, but I love it - there is never an issue with people having junk on thier property, lawns unkept, houses needing painting, unruly dogs, unrestricted lawn ornamentations, etc.. It's not everyone's cup of tea, and it does cost money, but I think it's a better quality of living and hopefully, keeps up property values.

[whitestripe]

there is never an issue with people having junk on thier property, lawns unkept, houses needing painting, unruly dogs, unrestricted lawn ornamentations, etc.. It's not everyone's cup of tea,

lol - unrestricted lawn ornamentations. look out garden gnomes! you're doomed!


but yes - i think that is a good price on storage. when I was looking for space for DF's two project cars, I could not find anything for that price (in australia) and that was only space for two small cars, not a boat and rv! In the end we bought a property with space under the house to build a built-in garage, which we did within the 8 months.

[bjl584]

That seems high. If you have the room build a garage on your property that is large enough to put your boat in. The building will pay for itself in 5 years. Or, you can consider outdoor storage. It's a boat. It's made to be in water and in the elements. It won't rust. It should be fine outside, unless security is a concern. Then, at least find a place that is fenced, well lighted, and has security cameras.

[wincrasher]

Well let's run some numbers, then.

First, that big a building (~30' x 50') isn't allowed in my neighborhood. With lots in the $45k to 60k range, it's not a good use of the land. A lot outside my neighborhood, maybe a mile away is like $20-25k.

Then you need a building. Yeah, you can get a cheap metal building for $20-30K. Better ones are more. You want it erected? That's another $20k.

Then you need a foundation and slab. That's easily $10-15k.

You need a driveway, culvert, etc to get to the street - $2,000.

Then you want electrical service, lighting? Add $1500.

Don't forget your property taxes! $1500 a year.

Then you are still looking at pulling the boat 45 miles each way to the lake each time you use it. That's a big inconvenience if you ask me. But that aside, you are looking at $30 in gas for the truck each trip plus wear & tear - I guess $500 extra each year.

Hmmm.....5 year return? I just don't see it.

[bjl584]

I have enough sheet metal to build a 30 x 100 metal building sitting in my yard right now. i got it for free from a contractor doing a demo on a chemical factory in my area. I'm planning on buiding a large pole barn sometime in the near future. I also have all of the insulation, lighting, and electrical hookups. I have a friend that is an electrician, and I know how to do concrete myself. I have enough free cinder blocks that I salvaged from that demolition job to do three course block all the way around. I also salved the man doors and the garage doors. All that I need to spend is some material costs to buy the concrete and some lumber. There are no building restrictions where i live. I figure i can build a $60K building for around $7000. Not a bad deal. There's tons of things being torn down right now. Go talk to some contractors. they will gladly allow you to have it. It saves them from having to throw it away.

[Johngate2100]

you are not giving us enough information so that we can say something.Like you did not mention the actual worth of boat.