While owning something expensive is a form of investment, it can sometimes be overrated too. If you need something temporarily, why buy one when you can rent it? You can rent a laptop with the right specifications that you need for some situations. And after it has served its purpose for a given period, you may return the item and then rent a better version of it without wasting money owning something that will soon be outdated. So the question is, would it be wiser for retailers like you to rent stuff? What items are worth renting rather than owning?
Should You Rent These Items Instead?
What is the first thing that comes to mind when talking about renting? Maybe you’re aware of one of the big decisions that adults make when it comes to investing their money. Would you buy or rent a house?
Some people are partial to investments, thinking that renting is just a waste of money. However, owning is not always the right choice for every people. And it does not ever happen that the value of real estate properties increases in the long run. So it can be a bad form of investment.
Owning a property is a long-term commitment when it comes to maintenance, not to mention the high amount of mortgages, taxes, and other miscellaneous fees. These fees are not fixed and could increase when the market is inflated. And you will not be able to get your money back in full amount once you decided to sell that property in a depreciating value.
Renting provides flexibility. You can save so much more from it that you can allot for other important things such as emergency funds. The hassle in owning a house is relevant in buying rather than renting other items such as boats, appliances, gadgets, sports equipment, home tools, and even entertainment items.
This stuff can also cost you a lot for repair and maintenance. If you’re only using a boat twice or thrice a year, it does not make sense to buy one as there are consequences of paying for docking fees, and repair and maintenance costs that are more than enough money for you to rent one in times of need.
When you need gadgets such as laptops that you’re certain to use for a whole year and not for the succeeding years, just rent it out. If you go and rent a laptop, you will save yourself from the inconvenience of upgrading your software, installing required applications for maintenance, and the thought of selling it because the market releases an upgraded unit of it.
Some things are just better to stay temporary. You may not know if you still need it a few months from now, or if you can even pay the price of owning it in the long run. Yes, it’s excellent that you have something of your own but consider the consequences when you lose it. You may lose big time in risking too much for something that you want for now and not for the next three years. If you do not have a stable job yet, you should definitely consider renting. Just see to it that you have thoroughly assessed everything first as there are some things worth owning, and the quality of the products you rent is perfect for your needs.