Renting Vs Buying: A Smarter Choice Renting would not only, let you save the money, it also lets you choose from the multiple options
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Home rentals have always been an option for people, living away from home or as a temporary living alternative. But back in the days, no one ever thought of renting furniture and home appliances, which was a real troublesome plan for people who needed to relocate quite often. The time has changed today, the younger population have on the move lifestyle, and have become smarter while making financial choices. Therefore, not just renting homes, but renting necessities for a home like a furniture, Decor, appliances etc. is becoming a primary choice in people's life. The trend is incited by growing urbanization, rising nuclear family culture, and expanding the working population. People are becoming more economical and opting for renting products as a more conventional choice.
A Shift in Job Culture
The changing working culture has made job changing more frequent, as youngsters are becoming more career conscious today. At times it is also the case that your job calls for relocation from one place to another. In all of these circumstances, the movement of whereabouts becomes the part of one's life. Buying furniture is a disadvantage in this case, as it will cost you the extra price to carry them from place to place. There is also an option to sell them before you move and buy the new ones in the new place, but how feasible does it sound? Time consumption is another added loss. If you rent the furniture instead, rental companies provide free relocation, maintenance and above all it does not lock you money, making your move more flexible. Not only that, renting brings you all the hassle-free experience as mostly rental providers takes it as their own part of work to provide free delivery and installation.
Many home appliances only have a seasonal demand. Then, why waste money and worry about the maintenance of these products even when you don't need them on the regular basis? Let's say, you have a one-year-old at your house, and you want every furniture and every decor perfect for your little one. But, with just a blink of an eye, your kid will outgrow. What about the cute little furniture then? As the kid will grow they will have different preferences, their demands will change and they will obviously, want their room their way. In such cases, buying could be a wrong decision. But if you are renting the products or the furniture, getting them replaced as per the demand and season would be a lot easier and handy here.
Renting Things is Convenient
Renting now is not only limited to homes, but many new offices are also now bending towards furniture rentals. The rise of start-up and co-working culture has seen these new age office owners choosing to rent furniture instead of owning them, as it helps the new start-ups with a small budget to have the apt office look even when they can't have extra expenditure involved. At times, start-ups, in their initial age, work from small office space, but as the ecosystem suggest, that the growth cannot be predicted, they get an immediate need of expanding their team and thereby, space. Renting the furniture helps them to cut the cost of shifting and have immediate access to many new furnitures.
Renting would not only, let you save the money, it also lets you choose from the multiple options. Therefore, it is not wrong to say that renting furniture or appliances, rather than buying them would be a lot cost-effective option and a smarter choice.