Renting vs. Buying Furniture
In times of transition, you may find yourself with an empty home or apartment you need to fill with furniture. Buying new furniture can be time-consuming and expensive, but transporting your old furniture to your new place may be even more of a hassle — especially if you are moving far away. Renting furniture can be a perfect solution to get the furniture you need quickly and easily. Renting furniture allows students, commuters or anyone in a temporary housing situation to enjoy the comforts of home without a long-term commitment. This guide will outline the pros and cons of renting and buying furniture to help you decide which is the right choice for you.
Pros of Renting Furniture
For those who are often on the move, renting furniture can be a perfect option to fill a house or apartment with high-quality furniture quickly. Because you can choose the rental period you want, you have the flexibility to relocate or change your house’s style as you please. Below are a few reasons to rent furniture for your home.
- Update your style: Renting furniture provides the versatility to update the design of your home when you want, rather than committing to one style of furniture when you buy. If you get bored with your current look, you can easily trade it out for something new. When you rent furniture, you can take a risk on a unique piece you may not ordinarily buy.
- Allow room for growth: The flexibility of renting is outstanding for those with growing families. As your children outgrow their bed or desk, you can exchange furniture that is too small for something that fits just right. If your kids tend to change their style often, you can keep up with their redecorating habits by choosing rented furniture. As your family grows, you may also want to exchange your loveseat for a larger couch or add more chairs around your dining room table. Renting makes it easy to find the right furniture for your whole family.
- Enjoy higher-quality furniture: If you are on a budget, renting furniture can provide more options for furniture in the right price range. Because they make payments monthly, renters can enjoy higher-quality furniture than if they were purchasing it.
- Save time and energy: Shopping for furniture can be very time-consuming and may not fit into your busy schedule. Renting can allow you to furnish your entire home or apartment within a few days — select your rental furniture online and schedule a drop-off time. When you don’t have to spend time shopping around for furniture, you can move in more quickly and feel at home in your new place. When you are ready to move, return your rental furniture to the store so you don’t have to worry about moving it to your next home or apartment.
- Save money up front: Renting furniture allows you to save money up front, which can be particularly helpful when you have just moved and are facing other expenses. Renting furniture makes it easier to settle in without breaking the bank.
Cons of Renting Furniture
While renting is often a perfect short-term solution, renting long-term may be costly. If you do not take good care of your rented furniture, you may have to pay extra fees, and renting may not always be the most flexible option if you choose the wrong furniture company. Here are a few reasons renting furniture may not be the best choice for you.
- Fees for damage: Most rental furniture requires you to pay a security deposit to cover any potential damage. If you are careless with your rental furniture, you may not get your deposit back at the end of your rental period. While most furniture rental companies will provide some leeway for general wear and tear, any spills, burns or scratches will likely cost you. If you or your roommates tend to be messy, it may be best to buy inexpensive furniture you do not have to worry about damaging.
- A penalty for paying late: When renting furniture, it is essential to complete your monthly payments on time. If you miss a payment or pay late, it can damage your credit score, which can make it more difficult to get loans or credit cards in the future.
- Can have less flexibility: Depending on what company you rent your furniture from, you may not be able to terminate your rental agreement early if you change your mind about a piece of furniture or decide to move again. A good rental company, on the other hand, will allow you to exchange furniture or change your rental period. Before signing a rental agreement, make sure you know how flexible your contract is.
- Can be more expensive long-term: If you are planning to keep your furniture for more than two years, you will probably save money in the long run by buying it up front. Some furniture rental companies will have relatively high-interest rates, so if you rent for more than two years, you end up paying too much. Be sure to do the math to decide which option is most cost-effective for your situation.
Pros of Buying Furniture
If you plan to stay in one place for a long time, you may want to invest in furniture for your home. Purchasing furniture is a one-time cost that can pay off in the long run if you keep your furniture for several years. Owning your furniture also means you have the freedom to redecorate or sell it as you please. Below are a few benefits of buying furniture for your home.
- More variety: Rental furniture can sometimes offer limited designs, colors, and fabrics, but purchasing furniture allows you to explore a wider array of options. When you buy furniture, you can choose from more unique styles and designs to suit your taste.
- Yours to own: The primary attraction of buying furniture is that the furniture belongs to you and you can enjoy the feeling of ownership. If you think you might want to change the style of your home in the future or tend to redecorate often, buying furniture can still be a good choice for you. Opt for neutral pieces for larger furniture like couches or beds, then update smaller items like chairs and coffee tables when you want a new look. If you are feeling creative, you can also dye, reupholster or upcycle old furniture if you own it. These options can make it more affordable to change the style of your home without purchasing new furniture.
- No monthly payments: While purchasing furniture is more expensive up front than renting, you do not have to keep up with any monthly payments. When handling rent, bills and loan payments, you may not want to add another monthly expense.
- No fees for damage: If you damage the furniture you own, you do not have to worry about paying any fees for the damage. However, you will still have to foot the bill for any repairs or cleaning.
- Ability to resell: If you choose to get rid of your furniture down the road, you may be able to make some money back by selling it. While selling furniture is not as simple as returning rental furniture to the store, it can pay off if you have taken good care of your furniture and find the right buyer.
Cons of Buying Furniture
Purchasing furniture can be a large commitment that has a hefty cost up front. Once you own your furniture, you must also take responsibility for transporting it, selling it or getting rid of it if you choose to move in the future or want to upgrade your home’s style. Here are a few reasons you may not want to purchase furniture for your home or apartment.
- Large initial investment: The high upfront cost of purchasing furniture is often what turns people away from buying it. You may not have the extra money to purchase the furniture you want and will end up settling for lower-quality pieces. When you buy inexpensive furniture, you may end up needing to replace it earlier.
- Costly to transport: If you decide to move, furniture can be expensive to transport, especially if you are moving far away. You may need to sell or donate your furniture instead, which can be a hassle.
- Costly to replace: While you may be able to make some money by selling old furniture, it is still more costly to upgrade furniture when you own than when you rent. Rented furniture is easy to return or exchange, often with no added fees. Selling your old furniture to purchase new pieces will always require an out-of-pocket expense you may need to save up for.
- May require assembly: Depending on where you purchase your furniture, you may need to assemble it yourself. When purchasing furniture, you may also need to transport it, which can add to the overall cost as well. It is not as convenient as rental furniture, which typically gets delivered to your home and set up for you.
Five Reasons to Rent Furniture
If you are considering renting, but are wondering if renting furniture is worth it, consider these five reasons to rent furniture. If you fall into one of the categories below, renting furniture might be the perfect option for furnishing your home or apartment.
Those who live and work in two different cities may have a second apartment they only live in during the work week. Also, if your company requires you to travel frequently to branch locations or visit clients, it may be economical to rent a second place. While you will only be living there temporarily, your second apartment should be livable and comfortable. Renting furniture allows you to fill your apartment easily, so you can settle in more quickly. Some rental companies also offer televisions and other electronics so you can feel even more at home.
If you plan to work at home while traveling or commuting, you can rent a functional home office package to increase your productivity and make your work more enjoyable. If you plan to host clients or co-workers in your apartment, you will also want furniture that looks professional. Renting furniture allows you to fill your apartment with high-quality furniture at an affordable price.
Living on your own is an exciting part of going away for college, but lugging your old furniture with you is not as thrilling. If you are attending college far away, it may not be practical to bring your furniture to your new apartment, especially when you will need to move it again at the end of the year. When sharing space with roommates, it can also be challenging to coordinate what furniture each person should bring, let alone to create a cohesive style in your apartment.
Renting furniture allows you to quickly fill your home or apartment with a furniture set that matches. It also makes move-in day smooth and stress-free, so you can spend more time making friends and getting ready for classes. When you rent furniture for your college apartment, you can easily split the monthly payment among your roommates. Some rental companies even offer special student packages that make it very affordable to furnish an entire house or apartment.
Military families often have to move around frequently, and you might not know how long you will be staying in a city. Taking furniture with you each time you move or investing in new furniture is not usually worth the money or effort. Renting furniture allows you to feel at home more quickly, and you can easily return it when you move again. Many rental companies offer housewares packages, so you do not have to pack up dishes, pots, and pans each time you move.
4. Home Stagers
When you are selling your home, you want it looking its best for potential buyers. Those viewing the property should be able to envision themselves and their furniture in the space. Your current furniture may not be the right choice to complement the space, or you may already have moved some of your pieces to your new home. Using rental furniture for home staging allows you to highlight the best features of your home and make it more attractive to buyers. Great home staging will reduce the time your home is on the market, so you can move to your new place faster.
5. People in Transition
There are many reasons you may find yourself in a temporary living situation. Perhaps you are planning to move away within a year, or are only renting an apartment for the summer before you head to college. You may be living elsewhere for a few months while you wait to move in with a roommate who already has furniture. If you need furniture for less than two years, renting allows you to save money and avoid having to buy and sell furniture in a short timeframe.
Explore Your Furniture Options With Interior Furniture Resources
Whether you choose to buy or rent, Interior Furniture Resources offers a wide selection of furniture for every room in your home. Browse our collection of quality, trusted brands online, or visit our showroom in Harrisburg, Penn., to fall in love with furniture for your home. When you purchase furniture from Interior Furniture Resources, you can feel confident you are getting top value for quality furniture.
If you decide to rent, Interior Furniture Resources boasts a large inventory of rental furniture that changes almost daily. Our flexible rental terms and affordable monthly payments take the hassle out of renting, and if you don’t love your furniture, you can easily exchange it for something that suits you better. Make renting furniture even simpler by choosing a room package, or create your own style by mixing and matching individual pieces. Interior Furniture Resources offers additional rental features, including housewares, electronics, and luxury bedding, so you can truly feel at home in no time. At Interior Furniture Resources, we help you live better for less by providing excellent furniture services at prices you can afford.