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Tuesday, July 23, 2024

Furniture on rent: Is it really cost-effective?

After investing in a house and a car, the next best thing that requires a good chunk of money in a go is the furniture for your home. 

There was a time, especially in the era of Gen X, when people attached the act of buying pricey possessions with the feeling of utmost pride. Renting was looked down upon, perhaps as a dent in a person’s social status.

But today, as millennials and Gen Z take over the world, their ways of living are also evolving. Most of the younger generation is always on the move, looking for ways to save their precious money and keeping up with the newer trends as they come and go. No wonder then that renting has become a new-age norm. Why wouldn’t it be? Getting furniture on rent is easily the most cost-intensive decision one can make in this day and age!

Why getting furniture on rent is a better financial decision?

Here are the top three reasons that make renting furniture a lot better decision than buying new furniture pieces –

1.    Ideal for individuals on the move

Why must you rent furniture? It’s the kind of question that most people from the older generation ask the younger kids. The answer to that is fairly simple.

Most of us are always on the lookout for a better opportunity in our careers. Sometimes, these fortunate circumstances appear in a place far away from where you are situated. Gen Z hardly ever hesitates to up and move from one city to another. 

In a scenario like this, buying furniture like beds, dining tables, sofa sets, etc., can be a hefty investment. These things may cost you a couple of lakhs if you purchase high-quality products. Plus, when you need to move around, the cost of relocation and the excess care you need to take of the furniture pieces to protect them from abrasion and scratches is too much.

This is precisely why getting furniture on rent is a much more feasible option. 

You can rent individual furniture pieces depending on what you require or select a package for a particular room. The millennials especially love the bedroom packages since they include a bed with mattress, wardrobe, bedside table, chest of drawers, etc. It will cost round about Rs. 500-Rs. 1800, depending on the kind of package you choose and the furniture pieces it includes. 

Additionally, when it’s time to move homes, the furniture rental services will likely offer you free delivery, relocation, set-up, and maintenance. 

2.    Helps keep up with changing trends

If you are someone who likes to spruce up the style of your home every once in a while, then buying furniture is not for you. These kinds of investments will last for years on end, and you cannot just toss them aside every time a new trend hits the market. After all, renovating your house and choosing contemporary furniture to make a fashionable statement is not a viable option. 

Rental furniture comes as a rescue because you can keep getting new upgrades when they arrive. This will help you keep up with your eclectic taste at a minimal cost. Most furniture rental services, such as Cityfurnish, allow you to get a no-cost upgrade whenever your current rental cycle closes. So, you can get something new if you get bored with the existing furniture pieces.

Could you imagine doing that if you owned these furniture pieces?

3.    Little profit selling furniture

Among all the assets, furniture bears a significant depreciation over the ordinary course of life. 

For example, you buy a brand new Sheesham wood bed with a soft foam mattress. It’s likely to cost Rs. 40,000-Rs.50,000. When it’s time to sell it out, either because you are shifting or want a modern furniture item, you will note that your owned pieces have borne the brunt of devastating depreciation. It might only be worth Rs. 15,000 now. This also depends on the present condition of your asset and how long you have been using it for. 

This scenario stands true for all kinds of furniture – wardrobe, sofa sets, dining table sets, etc. 

There is hardly any profit when you sell old furniture, so millennials are more inclined to get furniture on rent. This is especially suitable if you frequently love to change the house décor based on up-and-coming trends and lifestyle changes or if you move around often. 

You can return or swap the rented furniture pieces for something new and better. This will save you tons of money, effort, and time!

Is renting furniture a financially beneficial option?

Millennial or not, if you don’t have a permanent residence and often move cities for a better chance of growth in life and career, then don’t bind yourself down with bulky furniture. They are difficult to relocate, get outdated quickly, have low selling prices due to depreciation and are a considerable investment you may not be ready for.

The benefit of getting rental furniture outweighs the advantages of owning your furniture. You can get new upgrades as and when some recent designs come. They are also quite affordable, and most companies offer relocation, set up and maintenance free of cost. You don’t need to worry about any distress sale in case you are moving on an instant’s notice.

All in all, getting furniture on rent is a win-win!

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