Self-Storage Investments Are Recession-Resistant

The population of the United States is just under 335 million people. Ten percent of that number comes to 33.5 million, which is still quite impressive when considering that to be the target market for the business you are evaluating as an investment. If you are thinking about investing in a solid company that has nearly unlimited potential to make money, Legacy Built is ready to provide your path to long-term financial rewards. Our business, self-storage facilities, is in demand today and will continue to be desirable as the population in Tucson, AZ, ages and exceeds the average of 11% of the population renting a storage unit.
What Fuels the Demand for Self-Storage?

The economy drives demand. However, in most industries, the driver is either a good economy or a downturn in the economy. The exception to that rule is that people seek self-storage units in good and bad financial climates. During good times, people buy goods at record rates and need to put older items in storage because they have exceeded the capacity of their homes. They buy enough outdoor furniture to fill a small house but need to have secure storage for it in the winter. They change home décor features often and must place keepsakes and other once-displayed photographs, art, and mementos in a safe place.

Consumers are no longer buying when the economy takes a turn for the worse. Instead, they are selling those massive houses and second homes to downsize and economize. But they have a myriad of possessions they are not willing to sell for pennies on the dollar, or that hold sentimental value. So, they rent a storage facility. Another common life event that is often cast in a negative light is handling the affairs of an aging parent or family member. They move to a senior living facility and have space for only limited personal items. Instead of being forced to part with their treasures, the family moves those items into a self-storage facility for the peace of mind of their loved ones. In most cases, even after that person passes, the family leaves their possessions in storage rather than facing the emotional challenges of selling or giving them away.

Low Overhead and Unlimited Flexibility

After construction, a large self-storage facility can be operated with minimal staff and a very consistent and predictable cost for utilities and maintenance. There are no demanding clients who want a space renovated or repainted before they take possession of a storage unit, as can happen with office and residential rental units. In addition, the quality construction of Legacy Built self-storage facilities and climate control technology ensure the cost of utilities is as reasonable and constant as possible.

Finally, if a facility is at capacity and wants to expand, there are no on-site tenants complaining about the sound of construction or the dust. Owners can expand with added climate-controlled storage, large open areas to securely park boats, RVs, campers, food trucks, or other vehicles, or simple non-climate-controlled spaces ideal for construction materials or other overflow inventory that is not climate-sensitive.

Investing in Tucson, AZ Legacy Build self-storage facilities is not just a savvy move for the current market. It Is a choice that will continue to provide a superior ROI regardless of the economy and other factors that can increase the volatility of the average investment opportunity.