Hello everybody my name is Cade Olof and welcome back to Suburban Snacks. We have a new snack this month…candied Green Valley Pecans!
In this episode, we’ll be explaining the new wave of self-storage and how it’s affecting the real estate market. According to Real Capital Analytics, self-storage sales totaled $7.7 billion in 2020, up by a third from 2019! So why does that matter and how does it affect home sales? Well, self-storage is used by real estate professionals who stage homes. According to travelers.com, staging means preparing the home for a potential buyer by redecorating, rearranging furniture, cleaning and other aesthetic strategies to present the home in the best possible light. Not only do stagers use storage facilities but many sellers do as well. Before putting their house on the market, sellers will rent storage units to declutter their house. This allows for the home to get staged if need be but also allows for better marketing photography.
Bette McTamney an associate broker on the East Coast states that “a clutter-free home can mean a difference of $20k to $30k on a $400k home.” Now this doesn’t apply to every market but it holds a lot of truth. Typically, a clean house that is staged and decorated very well, is going to sell a lot quicker. Self-storage is a booming business for investors and it’s a business model that seemed to explode throughout the pandemic. Throughout the pandemic you saw many people make the switch to a work from home lifestyle. This was a major part as to why there was such a boom in self-storage facilities. However, investors feel that because it’s so convenient for consumers, self-storage is a business that’s going to be around for a long time.
That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Also make sure to follow us on Facebook, Instagram and YouTube all at Suburbanrealestategroup. Thanks for watching, my name is Cade Olof and we will see you in the next one!