Over the past few years, young people are more interested in renting rather than buying things. While the article does explore the reasons why buying is less economical than renting, to begin with, we would like to point out that consumers today have more choices than they had two decades ago.
What this means is they also have more choice in the kind of product they want to purchase. You would think that with such diversity, people would be able to find the right fit, and they would be more keen on buying a product that suits their idea of perfection. However, that is not the case! Most customers today, especially the younger ones, are choosing to rent instead of buying the product once and for all.
If you too are a young professional or student and want to stay away from buying things, read this article. After reading this, you may change your decision about buying certain things.
Cost of Ownership
It costs a bomb to buy furniture or any household appliance. And here we aren’t just talking about buying, you also have to factor in the maintenance cost.
Take for example buying a refrigerator. A low-end fridge would cost anywhere near 800 AUD. Once you buy it, you have to worry about maintaining it because any fridge works on gas. The most common complaint of any householder is the running out of gas.
To get that gas back in your equipment, you will have to speak to the maintenance guys. The main point here is buying a fridge or TV is not a one- time activity. Maintenance will drain you of your savings. If you are now thinking of renting a piece of furniture or TV, you may speak to rental companies like RentaCentre.
Convenience
What would you do if you were to suddenly relocate to another city or country? If you have bought your furniture or appliance, there are two choices before you- sell it off or lug it along.
Both options take away your precious time and energy. You never know when you will find your buyer. Secondly, lugging your furniture along means increased transport costs.
Students definitely don’t need to buy household appliances. In most cases, their apartments would already be fitted with these items. If not, then they can obviously have them at affordable rentals.
Flexibility
Your needs might change over a period. Let’s say you have a 32inch TV at your house. It has an impressive screen size, has HD and gives crystal clear pictures.
Come Wimbledon or the Australian Open, and you would like a bigger TV that has surround sound and other great features. Now can you afford to buy the new TV when the tennis season is just around? Thankfully, with appliance renting companies around, you can have a new TV set without emptying your pockets. If you have enough money, you might even like to buy this TV later on.
Many rental companies are quite flexible on the rental duration. You may want to have your furniture for 6 months, 12 months or even 2 years. Your vendor should be able to customize his rental plan according to your needs.
Before you rent or lease furniture, please consider a few things:
- Prepare your house or apartment. Make way for the new furniture that you are getting. Remove all the excess stuff. Repaint your walls and floor so that your new furniture gels with the surroundings,
- Study the rental agreement in detail. As a contract is a legal document, you should not miss out on any important or not so important details. Read the fine print, and if you are unsure of the terms of the contract, you may go over to the next rental company.
- Check the furniture or the appliance as closely as possible. If there are any cracks etc. on the body, show them to your rental company.
