To Rent or Own Equipment: Which is Best for You?

Home improvement doesn’t have to be expensive, and many tasks can be done by the homeowner. When you decide to upgrade part of your home, you’ll need equipment. If it’s equipment you don’t already have, you will need to ask yourself if it’s better to purchase or rent the equipment needed. More homeowners are spending on home improvement projects. In 2020, over $8,305 on average was spent, with a $745 increase from 2019, according to Home Advisor. Here is how you can decide if it’s better to buy or rent equipment for your next home project.

Rent if You Rarely Need the Equipment

If you rarely need to use a specific piece of equipment, it’s best to rent it. Why store this equipment for months at a time, dormant and gathering dust? Why spend money on something you’ll rarely use? Equipment rental lets you pay a smaller amount for just the time you need the equipment. When you’re done, the rental company can pick up the item if it’s too big for you to transport. And, you won’t have to worry about paying for repairs if the equipment is defective; the rental company will take care of those.

Buy if You Don’t Mind Handling Maintenance

Maybe you don’t want to deal with always having to call and hope that an acceptable model is available for rent. You don’t want to be beholden to another company and not be able to modify equipment in ways you see fit. In that case, buying would be a better option for you. You can purchase what you need and have it customized. Just be aware that you’ll have to take care of the maintenance of the equipment.

However, renting for a while before buying can still help you. When you rent the equipment, you can try renting different models so that you see which one you’d really like to purchase. In other words, you can rent to have test runs before you settle on a model to buy.

The Storage Space Question

Of course, none of that matters as much if you have no place to store the item. If having the item onsite for a while will create space issues, buying the equipment is sort of a no-go. That is unless you can find a storage space for the equipment. But then, you have additional transportation issues if the equipment is bigger. If you’re not sure if you will have enough room to store the equipment permanently, rent the equipment and see how things go.

Equipment rental is very convenient and can actually save you money on maintenance. If you’re not planning to use a piece of equipment often, or if you prefer not to have to deal with maintenance or trading in old equipment every few years, renting is the way to go. Contact Ramco Rental today for equipment you can trust!

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