Submitted by Happy_Confection90 t3_z7dyxb in newhampshire
Bgoodspeed t1_iy66k1h wrote
Storage facility owner here, think of it as an extension of your home, that’s how a lot of folks use units. Side note, there’s a ton of development (as you mentioned) and people not doing their homework. In one of our towns alone there are 3/4 new facilities going in, the town most definitely cannot support that number of units. Reached out to the new developers, they didn’t do feasibility studies and had no idea other people were building. You’ll see people getting burned overbuilding soon.
Happy_Confection90 OP t1_iy68veo wrote
According to this website about self-storage statistics, not only does NH have almost a square foot more per resident's worth of self storage than the national average, NH has by far the most square footage of self storage in any New England state. Like, nearly double some other New England states.
Bgoodspeed t1_iy6b3w8 wrote
It’s definitely getting overdeveloped. It’ll stop once new units go up and sit empty and all these bozos who built without doing proper due diligence go underwater. It’s also a “hot” asset class so people are chasing the run. There are a lot of people who think it’s easy money, it’s not, and can be ops heavy.
occasional_cynic t1_iy6jhdh wrote
I wonder if the lack of sales tax has people from other states storing stuff here too. But like you, I have definitely noticed the ridiculous amount of self-storage, especially in southern New Hampshire.
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