What would you value more: having a larger home that you didn’t make full use of, or downsizing to a smaller property and pocketing the change?
Continuing with our series on storage space vs. living space, today we turn our attention to Sydney to compare the average cost of renting a 3-bedroom house with the average cost of renting a 2-bedroom apartment and a storage unit, in several suburbs. Let’s see how much money this could save you.
Please note: Prices are based on calculated averages on realestate.com.au and National Storage costs. Your savings would naturally vary depending on many factors including the style, age and location of your respective properties.
Inner Suburbs
By downsizing to a smaller home and a storage unit in the inner suburbs of Sydney, you could save around $796 every month. That extra cash could get you:
- A night in a 5-star hotel in the city – every weekend
- 2 Thai curries every night
- A new GoPro Drone.
| Suburb | 3-bedroom house per month | 2-bedroom apartment & storage unit per month | Potential savings per month |
|---|---|---|---|
| Artarmon | $3120 | $2280 (1.5 x 1.5m unit) | $840 |
| Belfield | $2480 | $1590 (1.5 x 1.5m unit) | $890 |
| Camperdown | $3520 | $2860 (1 x 2m unit) | $660 |
Northern Suburbs
Trading your larger home for a smaller home and a storage unit in the northern suburbs of Sydney could save you around $720 each month. This could buy you:
- 2 tickets to a show at the Sydney Opera House every weekend
- An annual pass to the Taronga Zoo – and snacks while you’re there
- 2 hours on a hire jet ski every weekend.
| Suburb | 3-bedroom house per month | 2-bedroom apartment & storage unit per month | Potential savings per month |
|---|---|---|---|
| Dee Why | $3280 | $2395 (1 x 2m unit) | $885 |
| Gladesville | $2920 | $2110 (1 x 2m unit) | $810 |
| Hornsby | $2680 | $1965 (2 x 2.2m unit) | $715 |
| Pymble | $3060 | $2590 (1.5 x 1.5m unit) | $470 |
Southern Suburbs
By choosing a small home and a storage unit over a large home in the southern suburbs of Sydney, you could save yourself around $655 every month. This extra cash could go towards:
- Dinner for 2 in a fancy restaurant once a week
- 1 adult ticket to climb the Sydney Harbour Bridge – every weekend
- A home cinema set up (if you save for a year).
| Suburb | 3-bedroom house per month | 2-bedroom apartment & storage unit per month | Potential savings per month |
|---|---|---|---|
| Kurnell | $2600 | $1945 (1 x 2m unit) | $655 |
Western Suburbs
Opting for a smaller home and a storage unit in the western suburbs of Sydney would have you pocketing around $524 every month. With those savings, you could get your hands on:
- A decent lunch meal every day
- A cocktail for you and 5 friends every weekend
- Your very own hot tub (if you save for a year).
| Suburb | 3-bedroom house per month | 2-bedroom apartment & storage unit per month | Potential savings per month |
|---|---|---|---|
| Michinbury | $1920 | $1385 (1 x 2m unit) | $535 |
| Seven Hills | $1900 | $1389 (1.5 x 1.5m unit) | $511 |
| St Marys | $1880 | $1265 (1.3 x 1.5m unit) | $615 |
| Toongabbie | $2080 | $1645 (1.5 x 1.5m unit) | $435 |
So think about how much money you’re spending on that large home – place your unused items in a storage unit and save with a 2-bedroom apartment. Prepare to start saving and rent a clean and secure National Storage self-storage unit today.
