Space Station Self Storage is Giving Parents With Grown-Up Children Living At Home an Alternative Option
Facilities to store personal belongings and home contents are being used for longer durations than ever before.
In 2007 storage was utilised on average for just 22 weeks compared to almost double this in 2012 with space being rented for an average of 41 weeks at a time. But what is driving this demand for extra space in self storage facilities over longer periods of time among home and business owners?
It is possible that this need for additional personal storage comes from the quest for more space by parents of ‘failed fledglings’, grown up children returning to live with their parents through their twenties? A recent report by SAGA found that 19% of London couples over 50 are making space for their ‘failed fledglings’ and as the children move back in, the redundant exercise bike, the extra dining room table and other things need to move out.
It could be that as the prices of property continue to rise, increasing numbers of people over the age of 55 are having to downsize as they need to release equity from their properties. The Telegraph speculates that over the next 5 years 1 in 5 people will be looking at downsizing their property in this currently restrictive economic climate to release valuable equity. But thankfully this day in age downsizing doesn’t mean saying good bye to the family heirlooms, the sentimental belongings, or even the craft projects for your retirement. With affordable self storage facilities it’s more of an “au revoir”!