To Locker or Not?

Should you or shouldn’t you, that is the question. Should you skip the purchase of a locker because it seems like a lot of money or should you just, as the saying goes, do it. We are strong believers in the importance of having a locker with your condominium. Not least of the reasons to do so is the value it adds to your total real estate package. You might not realize it now, but when it comes time to resell your condo, a locker adds important value to the property.

According to Simple Condo Advice, a blog spot that offers purchasers some valuable insight into the process of buying a condo, “we recommend always purchasing the storage locker.  It adds a small amount to your mortgage and helps with the resale of your condo.”

Resale considerations aside, having a locker is important – especially with today’s smaller condo designs. You need a place to store things – out of season clothes, tires, camping equipment, those old family photos that you will one day digitize! A locker is a necessity, especially for active people with seasonal sports equipment. No one wants to be greeted with a pair of skis at your front door in July!

Lockers are great investments too. Should you find that you don’t need the extra storage space you can rent out or sell your locker for a nice price. There is a ready market of storage-starved people within your building that will jump at the chance to have some extra space to stow their stuff.

At the end of the day the benefits far outweigh the cost, especially when that cost is amortized into your mortgage, it is almost insignificant. Owning a locker adds value to your holdings, provides you with valuable space that you may need, and gives you future income options. It’s a win, win, win!