Top Tips for Choosing Between Renting VS Buying Furniture

Why is investing in furniture over renting the best choice for Indians? 93% of Indians prefer furniture purchase over rental. But is this the right choice?

Decoration is one of the most vital aspects that affect your lifestyle and financial status, especially when you decide to furnish your living area. Using rental furniture companies is a renowned debate that pits renting against buying furniture.

This article aims to provide insight into the purchasing behaviour and choices of Indian consumers when acquiring furniture for their homes.

The Indian furniture market is fast-growing and has a wide gap that can be filled by providing people with affordable furniture rental. The pieces range from conventional handcrafted to more tactical and contemporary chic.

The Rent vs Buy Dilemma:

Flexibility and Commitment

• Renting furniture has many benefits, mainly regarding flexibility and the ability to transform the ‘look and feel’ according to different occasions.
• It’s just like a ‘let’s be friends’ kind of a thing where nobody’s tied down and can quickly leave.
• At the same time, buying is committed and long-term, like a marriage you cannot easily break.
• Consider this before making your choice.

Cost Considerations

Renting furniture may seem affordable in the short term compared to buying, but it requires you to pay instalments to someone in the same way you pay rent and fees to an apartment owner.

In the long run, it often becomes costly, and you might have nothing to show for it. Most people equate it to buying a house, investing in an asset, and building equity in that asset.

Personalisation and Emotional Connection

• Like hotels, rented furniture brings little to no sense of ownership into your home or office.
• It is devoid of emotional connection.
• Furniture purchasing enables individualism, and the design can reflect your personality.
• It's like building a home, where every piece holds a story and creates lasting memories.

Tips for Making the Right Choice

Assess Your Lifestyle and Future Plans

• Do you like roaming as a freelancer or a tourist, or are you a homebody? Your lifestyle, activities, and plans should guide your decision.
• Some cases may compel one to consider changing residence often; in this regard, renting is more accessible.
• On the other hand, purchasing furniture may be the better solution if one is ready to make a long-term commitment and design a living area that will be fine for a while.

Explore Financing Options

Buying new furniture can be expensive. If you are discouraged by its steep initial price tag, renting seems to be a viable option.

FAQs

Is it possible to rent furniture for a short term, like a few months?

Yes, most rental furniture companies indeed have short-term rental services, making them a good option, especially for those who may require furniture for a short period, such as when renovating or even for those who want to stage their homes.

What if I am left with damages on rented furniture?

However, certain general policies must be followed since most rental firms want their furniture back in the state it was in when rented or will otherwise look for compensation for any damage besides typical wear and tear. Customers are sometimes expected to compensate for the value of the furniture using a fee in case of damage or replacement cost; thus, rented furniture needs to be handled with care.

Is it possible to buy the rented furniture after the contract period?

Some rental companies may also offer ‘rental purchase’—you pay a certain amount upfront and then make monthly payments to own the furniture you rented at a reduced price in the long run. Note, however, that not all companies offer this service, and you must consult a given company to determine whether or not it is available.

How can you check for furniture quality, mainly second-hand or pre-owned furniture?

When purchasing used furniture, conduct an intensive check to see whether it has signs of damage. Moreover, one must research the rental company from which they want to rent their furniture. Seek quality wares from certified outlets and avoid buying from second-hand shops.

Is it more accessible to move with rented furniture or bought furniture?

When moving, you will find that rented furniture is usually easier to transport since all you need to do is return it to the rental company and not worry about carrying and reassembling it.

Wrapping It Up

Remember that whether to rent or purchase furniture, you should consider several factors, such as your lifestyle, financial capacity, and appropriate needs. Being informed about these can significantly assist you in arriving at a suitable decision for your circumstances.