Deciding between Renting and Buying Furniture

Published: June 27, 2011

Renting versus buying furniture is a decision that is mulled over by many home and business owners. Buying furniture is not as easy as it once used to be when the economy was in a healthier state. Nowadays, everyone is tightening their belts; investing in good quality furniture has become more difficult and not a viable option for many. However, when looking at furnishing your home it is prudent to weigh up the advantages and disadvantages of both so that you make the best decision both now in the short term and in the long run.

Short-Term versus Long-Term Plans

When looking at which option meets your needs the most it is important to look at what you require now and what your plans are for the long-term. If you are temporarily moving office space, or you have been assigned to work somewhere for a specific period of time, renting furniture makes much more sense than buying new. If you know that you need to lease out a flat for a year for example, it would not really make sense to invest in new goods when you will need to sell them soon after where you will more than likely only get a fraction of the cost in return.

When it comes to short-term solutions, renting furniture makes a lot of sense. If you are looking to settle somewhere for the long-haul it is wise to start looking at acquiring your own pieces now. Even if this means that you are only able to buy a piece at a time, if they are top quality pieces that you love then these will be good investments for the future. Ideally, you also want to be happy with the knowledge that in the long-term you will be surrounded by pieces you own rather then pieces you are renting.

Quality versus Price

A big factor when choosing between rental furniture and new pieces is the affordability aspect of it. Due to money constraints many people feel that renting furniture is easier on the pocket. While this is certainly true in the short-term, in the long-run the money you pay every month for the furniture you are renting could go towards paying off your own pieces. Although money might be tight and you are on a limited budget, always look at the quality of any piece of furniture, whether it is renting or buying. In rental situations it is crucial to thoroughly inspect each piece before making a decision. Don’t compromise on quality in order to get a better price because while it may be a short-term fix it will soon present more problems and hassles down the line.

Be Smart and Shop Around

When trying to decide between renting or buying furniture, look at your budget and ask yourself some questions. How long do you plan on staying in your current situation? Is it temporary or long-term? Compared to by a new desk that you like, how much cheaper is it to rent one instead? Look around at various furniture stores from new outlets to rental companies. Become savvy and know what is on the market – look at the quality and price of both. If you decide that renting suits your needs better for the present moment, then ensure you go over the finer details with the supplier regarding damages, guarantees, delivery etc.

When money is tight there is an increased tendency to look for a quick-fix, short-term solution. While at times, this can be the right solution it is always wise to look at the bigger picture as well.

Renting furniture is perfect for temporary situations where buying furniture becomes too much of an investment. However, if you are looking to furnish your home but don’t have the money to furnish it with new pieces rather try and buy one piece at a time combined with renting furniture so that you meet your needs both now and in the future.

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