The Self-Storage Industry has been considered as one of the industries that would be affected greatly by the impending exit of Britain from the European Union. There is no denying that Brexit will have a heavy impact on the economy of the United Kingdom. While many think that this is quite a reach, the self-storage industry is directly related to the UK Housing Market.
As the leading cause of uncertainty in the UK economy right now, Brexit has pushed many to be in a panicked state. The UK House Market is one of the industries that are expected to be greatly affected, with mortgage funding becoming harder to secure. Even now, many are already deciding to move into cheaper real estate. With unemployment rates threatening to go up with the Brexit deadline, you can expect many UK residents decide to have a cheaper lifestyle. Saving up on valuable resources will be a priority for most of the British population starting April 2019. With so much uncertainty on the future, wasting money just won’t do.
By downsizing and renting out a self-storage facility for their items, many UK residents can save hundreds if not thousands of pounds. Practicality is important if you want to survive the economic crises that Brexit might bring. Downsizing is part of the practical processes that UK residents have to do to not deplete their bank account fast.
If you do not own a house then you would know that rent takes up a huge percentage of your hard-earned salary. This is why many are choosing to live in smaller homes or flats which would obviously require cheaper rent. Moving to a less populated city or town is another method of saving money.
However, the problem here is that most of the space inside our homes are taken up by our stuff. Let’s face it. We all have tons of items that we really don’t need. Many of these stuff are items that have sentimental value to us or are items that has a lot of utility but in the future. This means that we can afford to store them someplace else.
This is where self-storage facilities come in. If you are amenable to living in smaller quarters, then your bank account will thank you a lot. This has driven many to look for self-storage facilities that would fit their needs and within their budget.
Unfortunately, many are still not convinced as they are concerned with the stress of moving. Studies have found that 28 percent would rather pay more than deal with the hassle of moving into a new place. However, they could not be more wrong. Self-storage facilities all across the UK were established all to help its users while they are on the move.
Here are 4 Reasons Why UK Residents Would Need Self-Storage Facilities After The United Kingdom Leaves the European Union.
With trade deals still in the general gray area, there is no doubt that the future of the United Kingdom’s economy would be in danger should EU countries vote for unfavourable terms against the UK. They can impose borderline unethical tariff deals that can drive up imported goods to up to twice or thrice its price.
As such, many are favouring on a cheaper lifestyle including shelter. When you decide to move to a more inexpensive location, it often comes with limited space. As such, UK Residents have found it prudent to rent self-storage facilities near their houses for them to have space for their items. Instead of renting a three-bedroom house with the third bedroom for their items, residents can just get a two-bedroom house and then get a self-storage facility. If you’ve ever gone house hunting, you would know that this would be considerably cheaper considering that storage unit just cots a few pounds per month.
Downsizing is not just for those who want to save money. Seniors who have lived the prime of their youth often choose to downsize as they feel that they do not need a large amount of space already. Married couples whose children have all moved out also feel the same way.
Make Moving Easier
Speaking of moving, another reason why self-storage facilities are being rented is because there are a lot of unwanted accidents that may fall on your items when moving. One way to make everything more efficient is to store the items that you’ve packed into a storage unit until the moving day. This makes packing the rest of your items easier while also maintaining your items’ safety.
Storage facilities also help you estimate just how big of a moving van you will actually need for moving.
Countless UK residents will be travelling a lot once Brexit is imposed. Businessmen along with salesmen will be going on international and local tours. This means that they would need a storage container for their stuff. Valuable items that they want to safely secure while they are away can be stored in a storage facility until they come back. On the other hand, incoming businessmen would also want to rent a storage facility especially if they will be travelling all around the United Kingdom. By keeping all their belongings in one place while they travel light, they can save up on a lot of travel costs and also removing the hassle of carrying so many items.
With the prices of imported goods threatening to increase, many UK Residents are already stockpiling imported goods such as canned goods. Buying now to enjoy later seems to be the motto of most residents. Of course, if you know that a certain good will have a price hike, you would want to buy them when they are still cheaper.
Storage facilities for personal use of stockpiling is not as necessary. However, this is important for companies who are also stockpiling on their products and raw materials. Many of the raw materials that UK companies use are from outside the country. With the departure of the United Kingdom from the European Union, it is expected that raw materials will be much more expensive. To add to the injury, this would mean that even locally produced goods would also increase in price.
While Brexit does bring so many uncertainties, there is no need for a nationwide panic just yet. There are a lot of steps that may be taken to protect you and your family from the ramifications that leaving the European Union would bring. One just needs to keep a cool mind during trying times and do research before making a life-altering decision.