When it comes to buying furniture, there are so many questions to ask. What size, style, and price should you look at? Before you look at these questions you need to think first about Buying vs. renting furniture. When you buy you own it outright. Renting furniture however means you don’t ever own it. You are simply paying to borrow it from the store. So, when it comes to furniture should you rent or buy?

1. Buying pro: It’s yours to do what you will with.
You just rented a nice cream-colored sofa that matches the walls of your new apartment. Happy and excited you open the door and your dog runs in with muddy paws, right onto the rented sofa! By the time the rental term is up, you and your family have damaged this piece of furniture. Now you face not only paying all the rental fees, but also the full cost of the sofa due to the damage! If you had bought the sofa, you would have only had to pay once. Once it’s yours you can do whatever you want with it and not have to worry. Buying outright can reduce stress when it comes to the welfare of the item.

2. Buying pro: No random extra fees
Extra fees can be added to your rental fee. When buying you make a one time payment and don’t have to worry about it again. However, when renting, you will have to pay monthly and there are often hidden fees added. Missing payments or making late payments can hurt your credit score, so you must be much more careful with your money when renting. Always read the lease terms carefully to make sure you know exactly what you are getting into.

3. Buying con: Money up front
When buying you need to have the money up front. Sometimes this simply isn’t possible, and therefore renting can be an alternative. Particularly if you are trying to furnish an office space or similar when creating a business, a cheap upfront may be the way to go. The more expensive buying option may not make sense for your business.

4. Buying con: Installation, and take down
Many rental places will install and uninstall the furniture for you. They bring you what you rented and set it up. When you are done with it or moving, you simply call them again, and they come take it down for you. This can be nice if you don’t want to have to install or move it yourself. The problem with buying is that if you move and can’t take it with you, you will have to find a place for it. You may lose money by taking it to the dump but finding someone to buy your furniture may not be easy.

5. Buying or renting: Cost
Now here’s the big one, which is actually going to be better for your budget? Renting is cost effective if you are going to be in an area short term, and do not wish to move furniture. Granted that you take very good care of it. Buying is usually more cost effective if you are going to stay in one place for a while and therefore would need to rent for more than one term. You may find yourself paying more than the furniture is actually worth when renting for longer periods. Buying is especially cost effective if you buy used. Buying a cheaper version of what you want can save you hundreds of dollars.