This article is a true example of how shopping around for the best deal can save you a lot of money in the long run. Most consumers are all too typical and take the first solution or offer they receive on a product or service without shopping around for the most cost effective solution. That was true in this case…

A friend of mine who is an antique car collector was talking to me about problems he was having with the neighbors complaining about him having several cars parked in his driveway. His solution was to rent warehouse space for several of his vehicles at what seemed to him, the best price of $850 per month for the square footage he required. This translated into over $10,000 per year in costs that would not be deductible on his taxes and the price didn’t include the cost of insuring the vehicles.

My friend has quite a bit of open land on his property and I suggested that he look into constructing a steel building as a secondary garage to house the automobiles. I did a quick search on the internet for steel building manufacturers and I came across a company in Pennsylvania who specialize in metal steel buildings for commercial, agricultural, industrial, and residential building use. One of the most common use of their products is for homeowners who are car collectors and want to add additional garage space for their vehicles.

After my friend priced the cost of having the new garage addition completed versus the cost of renting a storage space, he realized that the option I had suggested would end up paying for itself in a few years. As an added benefit, the new structure will not only increase the value of his home but he will be able to use his homeowners insurance to cover the vehicles for a lot less money than taking out a new policy if he decided to rent warehouse space. Additionally, in most cases repairs can’t be deducted from your taxes but improvements and additions to your main home can usually be deducted in full in the year paid, otherwise, they can be deducted over the life of the mortgage.

Over the course of 10 years, my friend’s overall savings will amount to enough money to pay for his youngest daughters college tuition and now he will have all his precious cars on his own property and the neighbors will be happy.