No matter what type of housing you are living in, you will need furniture. Most likely a sofa or loveseat, dining table and chairs, coffee table, bookcases, an entertainment unit for your television and stereo, and more. However, you don’t need to automatically spend thousands of dollars on buying furniture. There are actually several pros and cons when it comes to buying versus renting the furniture you will need and want.
Depending on your needs and wants, your finances, and how often you move, your pros and cons for buying versus renting furniture may include the following:
1. Stay up on trends
A pro to furniture rental is you can stay up on the current trends of furniture. If you want to stay current by buying the newest trend, you would need the money up front in order to bring home a mid-modern century or rustic chic look that’s hot right now. However, if you rent the newest furniture trends you would pay for it on a week to week or monthly basis, paying smaller amounts, and maybe even rent to own.
2. Cost over the long term
When you want to get a new sofa, loveseat, coffee table, or any type of new furniture, the cost over the long term would be cheaper when you buy the furniture outright compared to renting it. However, many folks don’t have thousands of dollars on hand for buying furniture so renting is a more affordable short term option. Just keep in mind that even though renting furniture allows you to bring the furniture home without paying for it all at once, you will end up paying more over the long term with interest. The cost over the long term would be a con for renting and a pro for buying the furniture outright.
3. Temporary housing
If you move around often, for a job or schooling, furniture rental would be a pro over buying it outright. When you are more transient by nature, often you really do not want to be hauling lots furniture, or paying others to pack, move, and store it when it’s not in use. In cases of temporary housing, renting furniture would be considered as a pro and buying it would be a pricier option.
4. Rent to own
If you want to buy furniture, but do not have the money to pay for it all at once, you could rent to own it. When you want the furniture but have little cash, it would be a pro to rent the furniture, paying portions of the final cost to eventually own. The only problem with rent to own furniture is you may not be getting brand new furniture. The furniture you get at rent to own places may be furniture that was returned because the previous person got behind in their payments or could not pay on it anymore. Rent to own furniture can be considered as both a pro and a con at the same time.
When you are considering getting furniture by buying it or renting it, you should consider your housing arrangements and what you can afford at the time. There are pros and cons to both buying and renting furniture.