Economic cost (e.g., decrease in actual value of cars) due to lack of storage space

[J3Studio]

Interesting and unusual discussion—some food for thought.

[Luv2Wrench]

I agree with OP and would generalize the statement to say "lack of resources", where resources would be time, space and money. 

 

To some extent I've downsized my collecting to focus more on tools yet I found even with tools, there are plenty of wonderful old line-shaft driven wonders of American cast-iron that I've had to pass on due to lack of storage.   That lack of storage could be solved with more money but I lack that as well.  SO yes... it seems that collecting these types of items require a lot of resources at a time where a vast majority of us are limited in at least one of the resources needed.

 

[60FlatTop]

I have room for five cars stored inside at home. $110 each for extra "floaters" at the storage unit.

 

Now the cold reality, I can buy just about anything I want and put collector car insurance on it for $80 to $150, so I essentially have no restraint on the insurance end. Storage is the ONLY think that holds me in check. And sometimes that isn't as effective as it should be.

 

When I was younger I had a project and nothing ran, Then I had a keeper and a floater. That turned into two keepers and a floater. Then it was three, and on, and on.

 

At the moment the garage is empty and everything is making my own lawn display. In an hour I will run each around the long block and top off the gas tanks.

 

Sometimes I see the guys strangling in their large collections and I spend a moment quietly thinking "If not for storage costs, there go I."

 

Bernie

[auburnseeker]

Mine just got a little more expensive but I'm relieved to finally see some concrete hitting the ground.  They are planning on pouring the walls next week. 

I had one of the banks collapse from the rain over the weekend and had to clean that out, but they finished forming the footings this morning and poured it morning/ Afternoon.   It was just pouring really hard a few minutes ago.  I hope it doesn't wash any more in.  

[Larry Schramm]

On ‎8‎/‎29‎/‎2017 at 11:40 PM, auburnseeker said:

That would be great.  I wish I could find a barn like that.  As it is,  I had to settle for a 28 by 50 Pretty much clear span garage with 7 acres (on a hill) to build another building.  I came up with a simple clear span 60 by 72 foot garage ? Barn with a 16 foot ceiling. 

Even though I'm pretty much in the woods,  the Planning board gave me some grief about the size and it's affect on the woods.   and water run off that affects the lake a few miles away on the other side of a mountain.  You know all the stuff that makes them feel important.  

Now I have the permits, paid all the fees.  Spent $12,000 leveling what looked like a site with 4 foot of grade  (41 loads of fill later)  Another $1300 this spring to tune it up and line the banks with crushed rock to prevent washing, then another $1200 to dig the footings and frost wall, though I helped and even dug part of one wall as my excavator was more practical to use than their equipment.  

I cut all the trees, cut them to length stacked the logs and chipped all the brush.  

Right now we are at:

$1000 permits

$14,500 excavating and site prep

$2300 Stamped engineered plans

so

$17,800 and I haven't bought a stick of wood or put any concrete in the ground. 

Kind of gives you an idea of how it can all add up fast.  I will say the excavating fees are very low as the guys that I hired are very cheap but do good work and the most honest guys you will ever meet.  They were Highly recommended.  I have never met anyone that had anything but praise for them and their business practices so I imagine you could tack alot more on for a normal excavator.  For example they were selling me 20 yards of fill delivered for 100.00 a generous load.  It's really nice sand with a little clay so it packs and almost no rocks or even stones.   They also trucked out all the stumps and logs including all the pulp wood I was having trouble getting rid of. 

I have a price of 17,000 and change for the trusses.  

I'm expecting to have atleast 100,000 in it before I put a floor or insulation in it.  That's using board and batton siding that I did start getting delivered so the wife can pre stain it all. 

I could have gone with a cheap tin pole barn but it wouldn't match anything up here and as they say,  you get what you pay for.  I can make it fancy once it's up. 

So yes more space and having to spend less on a building would allow me to put a whole lot more cars in it.  

I'm just hoping the tax man doesn't bang me too hard when I'm all done as well. 

 

I was looking to add a small building to my business for storage and checked with the tax assessor and she told me that it would TRIPLE my property taxes.  Took a pass on building a building.  Instead bought 40ft shipping containers for storage.  No impact on taxes.  Not the best solution for space, but one that would not put a forever larger tax bill on my tab.

[auburnseeker]

I unfortunately Know the taxes will go up,  but in my area it's based on the cost of the project.  It should make our 400K assessment go up another 1/4.  Which is less than I was paying in taxes on the Commercial shop I sold.  

I won't know for sure until it's all done.  It's an unheated equipment barn with gravel floor per the plans.  In my area that is chump change for property as we are in a very touristy area with many expensive real mansions on the lake.  I keep crossing my fingers and hope it's not too bad. 

[Larry Schramm]

Our tax assessor just used a formula of square footage and building type to determine the new tax rate.  Cost of project had nothing to do with her calculation. And this was just a metal building with a concrete floor.  No electricity, no water, no heat, etc.  Just 4 walls and a floor. Plus a roof.

Edited September 12, 2017 by Larry Schramm (see edit history)

[auburnseeker]

Well hopefully the gravel floor will help as really with that it's just a pole barn, without the pole barn look.  Hard to say when it comes to taxes.   

I know they know all the angles to squeeze every dollar out of a productive member of society. 

Edited September 12, 2017 by auburnseeker (see edit history)