Owning a spacious house with a three car garage is the American dream right? Or is it? A recent article by Emily Wax makes the case that a small home movement is in progress. How small? 200 square feet small. If there is truly a small house movement in the works, storage space could be more needed than ever.
First things first – is this really the “new” American dream or just people realizing that much space that had become the norm is expensive and not necessarily imperative? The latter seems more reasonable but either way the idea of purchasing a 200 square foot home gives those looking to own a house an affordable
solution especially in urban areas where property comes at a premium. Either way, while living in one of these homes can be very manageable when space is maximized, there isn’t much storage space to go around. With limited space like this, would it be reasonable to keep things such as winter coats in the house year around? Would it be reasonable to keep a bicycle at the house through the winter? For the sake of living comfortably, probably not.
This opens up some new opportunities for the self storage industry. One person in the article even mentions whittling down their clothing collection and that they might keep some storage at their parent’s house. If this trend picks up across the nation, these mini home owners will undoubtedly need extra storage space and a parent’s house isn’t always an option. This makes for a perfect self storage customer. When facing the challenge of maximizing space, residents of these homes will need to look seriously into what they will use frequently enough to have in the house at all times and what can be put away into storage.
The choice they are going to face is to store the possessions or get rid of them completely. It is more likely than not that people investing in these houses see these living situations as temporary. While a married couple can pull of living in a mini house, a married couple with kids probably can’t. This means that at some point most people will grow out of the house and need to upgrade to something bigger. For those looking to have a family and upgrade at some point, storage will be preferred over dumping these extra possessions.
While this might not really be the new American dream, it could be a growing trend for people looking to invest in their first home. This new mini home trend has the potential to expand especially in highly populated cities. If it does, storage facilities around the nation should be ready to make their move and capitalize off these storage deficient homes.