Renting vs. Buying Furniture: Which is for You?
You’ve found the ideal piece of furniture for your living space, but you’ve got a question: rent or buy? Here, we’ll explore the pros and cons of renting vs buying furniture and help you find the best solution for your needs.
The problem with buying cheap furniture
The low up-front cost of cheap furniture might seem appealing. In the long run, though, this form of investment might bring buyers regret.
Cheap furniture is usually mass-produced. It is often made from low-grade materials, such as thin plastic and low-quality fabric. These deteriorate quickly after regular use.
Quality isn’t the only thing to consider. Cheap furniture often doesn’t include aftercare or support. If anything goes wrong with your purchase, it’s up to you to deal with maintenance.
All this means that cheap furniture doesn’t stay cheap for long. While an item might look fine at first, it can quickly lose quality over time. Before long, you might find yourself once again in the market for new furniture or paying for repairs.
What is rent to buy?
Rent to buy is a form of flexible payment plan. It’s a potential solution for those daunted by the large upfront costs of buying furniture outright. Instead of paying a large lump sum, you’ll pay installments over a pre-defined period. At the end of this, the furniture is yours to keep. You can rent all forms of furniture through rent to own, from dining tables to sectionals.
This form of payment plan doesn’t just apply to rental furniture. A rental company can offer different forms of products. Rent One, for instance, offers a variety of products, including everything from jewelry to electronics.
Renting vs. buying furniture: What are the pros and cons?
Struggling to decide between renting vs buying furniture? Here are the pros and cons of each.
Renting furniture
The pros
People rent for a wide variety of reasons. Some of the top benefits of renting include
- Avoid large upfront costs - By renting, you avoid the stress of paying a large sum of money off the bat. Instead, you avoid the stress and pay at your own pace.
- Flexibility - With rent to own, you have the freedom to choose a payment package that works for you. This could be a series of weekly, monthly, or semi-monthly payments.
- More security - Furniture rental brings added peace of mind, thanks to 24/7 support. If anything goes wrong with your purchase, it can be repaired with no extra cost to you.
- Hassle-free and quick - Rent to own plans often handle the heavy lifting with free assembly. So, there are fewer barriers between you and comfort.
- Upgrade or trade in - Rent One offers you the ability to upgrade or trade in your items, meaning that you don’t have to hold on to old items or go through the hassle of selling them.
- Environmentally friendly - Rent to own revolves around the idea of using items while you need them, keeping them if you want or giving them back for someone else to use. It’s a fantastic way to reduce net waste.
- Delivery and setup - Rent One offers free delivery, setup and assembly of items.
The cons
There can also be some disadvantages to furniture rental. It’s worth bearing the following points in mind.
- Long-term cost - Rent to own furniture is sometimes more expensive in the long run. While it’s a great way of avoiding the upfront cost, you could end up paying more for an item by the end of the rental period.
- Delayed ownership - You don’t fully own furniture until the rental period is complete. During this time, you have less freedom to customize your purchase.
- No money back - With rent to own, you can return temporary furniture at any time and stop payments. You won’t, however, make any money back.
Buying furniture
The pros
There are several benefits to buying furniture. These include
- Instant ownership - When you buy a product, it's yours straightaway. That means you can customize your furniture to your heart’s content, or sell it on to others.
- Cheaper in the long run - Buying furniture can be cheaper in the long run than renting. This is because you avoid interest payments and additional fees that are often attached to rental plans.
The cons
Of course there are also some drawbacks. Renting might be a good idea if you’re concerned about any of the following factors.
- Upfront cost - The initial costs when you purchase furniture can be daunting, especially with more expensive items. Buying might not be realistic if you have limited or unstable funds.
- Lack of flexibility - You can’t return a purchased item of furniture. This can bring potential buyer’s regret later down the line (eg, an item might not fit the vibe of a new home).
- More hassle - With a rental plan, the hassle of assembly is handled for you. You don’t get this benefit when buying, unless you pay a higher initial cost. There’s potentially a longer period before you can properly set up and enjoy your furniture.
- Depreciating value - Lower quality furniture can bring logistical problems. These items don’t hold their value over time. When it comes to selling, you might get considerably less than you paid.
How to buy high-quality furniture with no long-term commitment
If renting is the answer for you, look no further than Rent One. With a wide range of payment plans, you can choose a rent to own solution that works on your terms.
We also stock the following types of items:
Even better, with no long term commitments, you return an item at any time – no extra payments needed. With free delivery and assembly, you have everything you need to get started. So, why not head online or to a Rent One location near you and choose your ideal furniture today?
