In conclusion, furniture rental may seem like a more affordable and convenient solution in the short term, but within only two to five months it will be more costly. In most cases, if you do not need furniture for only a few weeks (e.g., less than 1-2 months) it will be more cost-effective and practical to simply buy the furniture outright, especially if you’re looking for predictable costs and a stable living environment.
If the reason for considering furniture rental is because you do not have the lump-sum to buy furniture for your entire home, instalments from furniture stores are a great option. For a little interest (or even zero-interest) you pay monthly on the furniture you own.
Before making a decision, take the time to research your options and consider what will work best for your needs and budget.
One of the biggest drawbacks of renting furniture is the high cost. Furniture rental companies need to cover their costs, including refurbishment costs, which are as high as 60-80% of the original cost of the furniture. To cover these costs, they charge customers rental fees that sum-up, over a period of a few months, to the same or even higher cost as buying the furniture outright. In the longer run, these high rental fees exceed and end up being much more expensive than if you had simply bought the furniture in the first place. The break-even point is roughly between 2-4 months, which means that if you plan to rent furniture for longer than 2-4 months you are financially better of buying it in the first place.
When you rent furniture, you may think that you are only paying for the monthly rental fee, but there are often hidden fees that are not immediately obvious. For example, there may be a delivery fee, an installation fee, and even a fee for removing the furniture when your rental period is over or you need to move to another apartment/house and the rental contract needs to be adjusted. These hidden fees can add up quickly and make the overall cost of renting furniture even higher than you initially anticipated.
When you rent furniture, you are responsible for the maintenance and upkeep of the furniture. This means that if a piece of furniture gets damaged or even stains, you will be held responsible and have to pay for repairs. On the other hand, when you own furniture, you have the option not to remove the stains as you see fit.
When you rent furniture, you are limited in terms of personalization. You cannot exchange the damaged or dirty cushions on your sofa with inexpensive cushion souvenir from you next holiday. This means that you may not be able to create the personalized look and feel that you want in your home. On top, it means you need to pay for the expensive replacement from the rental company. On the other hand, when you buy furniture, you have complete control and can choose according to your needs.
In conclusion, furniture rental may seem like a more affordable and convenient solution in the short term, but within only two to five months it will be more costly. In most cases, if you do not need furniture for only a few weeks (e.g., less than 1-2 months) it will be more cost-effective and practical to simply buy the furniture outright, especially if you’re looking for predictable costs and a stable living environment.
If the reason for considering furniture rental is because you do not have the lump-sum to buy furniture for your entire home, instalments from furniture stores are a great option. For a little interest (or even zero-interest) you pay monthly on the furniture you own.
Before making a decision, take the time to research your options and consider what will work best for your needs and budget.
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There’s a lot of upside to buying used furniture—including saving serious dough—but selecting a bad piece could spell disaster. Put your potential purchases through these paces before bringing them home.
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