When moving into a new home, one of the biggest expenses you will incur is that of furniture. Very rarely do we like to cart our old furniture. A new home definitely deserves a new bookshelf and cabinets to add to its glow. If you are stuck wondering about the pros and cons of buying versus renting furniture, let us take a look at each point so you can figure what is best for you.

Buying furniture for your home
Buying furniture is often the first instinct for most homeowners. However, is buying worth the cost? Let us take a look at the pros and cons of buying furniture.

Pros

• No monthly payments
  Buying furniture is a one-time expense. You can look for good deals and discounts and make a purchase. However, renting furniture for a period of over two to three years tends to be a tab expensive.
• More choices and variety
  Furniture rental sites often have a limited variety in stock that fits with the majority demand. If your tastes in furniture are more eclectic, you might be better off buying exactly what you need to personalize your home.

Cons

• Higher investment
  While buying furniture saves you the hassle of monthly rents, you need to figure out whether you can afford the large one-time cost.
• Self-assembly
  If you are not too good with fixing and assembling things yourself, then buying furniture would prove to be a hassle with the added con of paying huge amounts of money to a professional.

Renting furniture for your home
Renting furniture is fast-growing as a better alternative to buying. Having said that, is it really better than buying and owning furniture? Let us take a look at the pros and cons of renting.

Pros

• Make upfront savings
  When you rent, your initial payments are not as high as purchasing furniture outright. This can really help you as you already have high bills to pay on your mortgages.
• Enjoy versatility
  Renting means that you are not stuck with the same furniture for years. You can make upgrades and get new pieces of furniture anytime you feel like it. You also do not have to worry about lugging your furniture every time you move into a new apartment.

Cons

• Penalties for damage
  If you live with flatmates, renting furniture can be a bad decision. If your flatmates or you damage anything, you might find yourself paying a lot of penalties for cracks or chips in the furniture.
• Costlier in the long-run
  Renting furniture works for a shorter period of time, such as six months to a year. If you plan to use the same furniture for a period of two years or more, it is cheaper to purchase it outright than to rent.

Before making a decision, do go over the pros and cons of buying versus renting furniture carefully and choose what is best for your financial and decor needs.