Own it or lease it?
Most of our garages can be bought or leased. Here's how the two compare, plus a calculator to run your own numbers.
The short version
Own
Best if you plan to keep it for years.
Lease
Best if you need space now and aren't ready to commit.
Not every garage is offered both ways. Use the Lease or purchase filter on Available garages to see what's available.
From first look to first project
Join the club
Buying a garage condo is a lot simpler than buying a house. Here's the whole road, start to finish.
Sign the purchase agreement
Put your name on it. Your unit is locked in.
Line up the money
Pay cash or finance it. We'll send your lender the documents they need.
Close and get your keys
Sign the final papers. The deed is yours, and so is the gate code.
Moving day
Back it in, roll it in, tow it in. Finally, room for everything.
Run the numbers
Enter the price and rent you were quoted. The starting values are examples only, not Park Place Storage pricing.
Your comparison
Over 10 years, owning costs about $84,337 less than leasing, once you count what you'd get back when you sell.
Net cost of owning is everything you paid minus what you'd walk away with after selling (value minus loan balance and selling costs). This is an estimate for comparison, not financial or tax advice. Talk with your lender or accountant before deciding.