I have been investigating the idea of purchasing a building
to store and perhaps work on the various projects I own,
mostly LBCs. I rent space now for storage only, and reason
that if I can convert rent costs to mortgage payments, I'm a
lot better off.
But to buy my own building in Western to Northwestern
Connecticut, it would have to be something that, one way or
another, has to return something on my investment. I need
to keep my full time job to continue to support myself in
the manner to which I am accustomed, so it is unrealistic to
begin a restoration business or the like, notwithstanding my
skill level.
So, renting storage space comes to mind as a possible
building use. My limited attempts to sublet space in the
building I rent now have not had spectacular results, so I
expect I would have to be more diligent about it.
The question I pose here is what is a reasonable amount most
expect to pay to store a car? Off season vs. on season?
Always accessible vs. long term storage?
I have looked at this sort of expense as an added cost to
enjoying my hobby, just like gas, property taxes and
insurance. I'm curious as to what others think about this
as I attempt to develop my business plan.
Thanks in advance for your thoughts.
Jim
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