Buying v/s Renting Furniture: which one is better for you?

Renting as a concept has existed for ages and the list of things now people rent ranges from big assets to smaller commodities. Among the most popular items are furniture, cars, luxury clothes, and high-end tech accessories to name a few. Both renting and buying can be cost-effective in many situations and overly expensive in others: it entirely depends on the unique circumstances of each individual. Today let’s talk about furniture and what to consider while investing in a piece of furniture.

Which one is right for you – renting furniture or buying furniture? Well, we can’t make the decision for you but we surely can lay out all the factors to help you make the decision.

For ease of discussion, let’s break it into three categories – 

Practical, Financial and Emotional.

Practicality -

Renting allows you to experiment. We can’t change furniture like our clothes. Wait that’s yesterday’s thought, isn’t it? Today we can! This one’s a relief for all those creative heads out there, whose urge to change their home interiors come and goes as per their mood or life stage.

While on the other hand, buying a piece of furniture brings stability. It allows you to live tension free and portray your unique style. That commitment and sense of ownership adds to the  enjoyment and admiration of your space, until you have used it enough – in a way truly getting your money’s worth. It’s also more sustainable to purchase furniture as a one-time, long-term expense instead of getting new pieces frequently– both for you as well as for the environment.

Financial -

Renting is easy on pockets…… in the short term – a 100 times yes! You can conveniently pay small and recurring amounts every month till you use the piece of furniture.

But in a long term, it would be more of a liability than it needs to be. After all the payments you would have made throughout the year, you would eventually be required to return the furniture. One could argue that you could have spent all amount in acquiring the furniture once and kept it for a longer duration? Purchasing a timeless piece which also travels with you to your different homes – after all it’s a one-time investment with constant returns over the years of usage. 

Renting furniture can be a good solution if you plan to live in a place for a limited period of time but if you are settling for the foreseeable future buying it might make more financial sense.

Buying can be a wise decision also considering that years later when you are done with it you can simply resell it depending on its condition – you can make good bucks on it when you sell.

Emotional -

Remember that sofa on which you and your childhood partner in crime have bounced all day. Remember how that sofa has been there since before you were even born? Would it be easy to give that one up? Our guess is no.

When you bring home a piece of furniture that you have spent so much time, effort and research on selecting it becomes a crucial part of your house. You inevitably form an emotional connection with it, build memories around it and get nostalgic. Naturally, with time and with usage this connection will only grow, especially since you choose that piece to be a part of your sanctuary – your beloved home. Some great laughs, heartfelt cries, intense thoughts, and tough conversations over the years are had in your home, whilst using that carefully selected furniture. Your furniture is an integral part of your home and something which completes it – thus helping you create and cherish memories for a lifetime.

If all these memories and connections are made with a rented piece of furniture it is bound to hurt when you return it, isn’t it?

You are going to build memories irrespective of whether the furniture is rented or bought. However, if it’s truly yours to claim, it will help preserve those memories for longer. 

Hope this short and sweet blog brought you one step closer to making a decision.