Over time, your possessions can outgrow the space in your home. If this is your situation, you might consider building a small storage shed. 

But how much does it cost to build a storage shed? Would renting a storage unit be a better idea? Let’s delve into these questions. 

The Benefits of Building a Small Storage Shed

If you have the land, time, and inclination, adding a small storage shed on your property can be extremely convenient. Here are some of the biggest benefits:

Clear Upfront Costs

Most of your storage shed cost will be when you purchase and build it. Once the shed is up, your ongoing expenses will be minimal (though you will need to maintain the shed through the years). If you have the funds, it might make more sense to pay for your shed now and enjoy the benefits for years to come.

Convenience

Building a shed on your property means your possessions are always at hand. It only takes a few steps to grab that box of winter coats when the temperature drops or to store your extra shoes during a spring cleaning.

Property Boost

A nice, well-maintained storage shed can increase the appeal of your property and may even raise its value when it comes time to sell. Most buyers appreciate homes with added storage capabilities. 

Lots of Options

These days, you have plenty of options for picking a shed. You can choose from many different materials, sizes, and layouts. Some large, big-box retailers and home improvement stores even sell prefabricated shed kits that experienced DIYers can build themselves.

Benefits of Renting a Storage Unit

An on-property shed might not be the best option for everyone. Here are some of the big benefits of renting a storage unit: 

Ideal for Renters and Condo Owners

Not everyone can build a shed on their land. If you rent, you can’t add storage to your property. Additionally, if you own an apartment, condo, or home with a small yard, you may not have space to add a shed to your outdoor space.

No Large Upfront Cost

If your budget is tight or you simply don’t want to spend a big chunk of your savings, you may appreciate paying a monthly fee for your storage unit instead of putting down a large upfront payment for a shed. 

Lots of Flexibility

Your storage needs may change over time, especially if you move into a different space. At Price Self Storage, we offer month-to-month leases, which means you can end your contract anytime. This situation is ideal if you only need temporary storage or move often.

Lots of Storage Choices

Self-storage facilities like Price Self Storage offer storage units in a range of sizes, so it’s easy to find one that meets your specific needs. And you can easily upgrade to a larger unit or downgrade to a smaller unit as your needs change. 

We also offer temperature-controlled storage for delicate items, such as antique furniture.

What Does a Storage Shed Cost?

The cost of a shed will depend on various factors, including its size, material, and accessories. According to LawnLove.com, an average 8’x8’ shed costs $5,120, while a 10’x12’ shed costs, on average, $9,600.

Here are a few other costs to keep in mind as you consider adding a shed to your property:

Site Preparation

If your land is uneven, you may need to pay for level and grading. 

Foundation

In many cases, you’ll want to build your shed on a foundation. According to LawnLove.com, a concrete slab typically costs between $4.43 and $7.73 per square foot. 

Labor

Don’t know how to build a small storage shed? You’ll pay around $75 an hour for a contractor and more for specialty services like adding electrical or plumbing.

Permits and Licenses

Depending on your area and the size of your shed, you may need to request permits before building your shed.

What’s the Cost of a Storage Unit?

The cost of a storage unit will depend on the size of your unit, the facility you choose, and any extra features you request. For example, you’ll pay more for a temperature-controlled unit or a unit with extra security features.

Move.Org lists the average cost of a small storage unit (5×5’ – 5×10’) at $60 a month. A medium storage unit (5×15 to 10×15) will usually set you back $140 a month. 

Build a Shed or Rent a Storage Unit?

Is building a small storage shed the right choice for you? It all depends on your circumstances. If you have the land and the funds and plan on living at your home for some time, a shed can add a lot of convenience to your life. If you’d rather pay a smaller monthly fee than a large upfront cost or if you move frequently, renting a storage unit could be smarter.

Looking for convenient, flexible storage near you? Find your nearest Price Self Storage.