Planning a DIY Home Renovation? 5 Questions to Ask Yourself About Buying or Renting Equipment
Renovating your home is one of the great rights of the homeowner. Want a covered deck? You can build it. Want stained-glass for your bathroom windows? Just pull them out and replace them. Want to completely redo your kitchen without contractors? It can be done. Of course, no matter how handy you are and great with a how-to guide, most people don’t have the full array of tools necessary for each detailed aspect of a DIY home renovation.
Paver saws, drywall panels lifters, earth movers… no matter how complete your toolkit is, there are some construction-level tools most homeowners simply don’t have; though you could use them aptly if you did. Which begs the question:
“Should you buy equipment for a DIY home improvement project, or rent what you need?”
Realistically, the right answer to this question should be judged item by item. Some pieces of equipment, you may realize would be a smart long-term purchase. While many pieces of equipment would only be used once, or so rarely that renting is the more practical solution.
To help you make the decision, here are the five questions every DIY home renovator should ask themselves when deciding to buy or rent the project equipment you need.
Do I Want This as Part of My DIY Home Workshop Tools?
First, ask yourself if the piece of equipment is something you want to invest in for the long term. Some items, like table saws, could be a good addition to your home workshop for future projects. But only if you do regular home improvement or crafting projects that would use that tool. Consider what you use regularly and the tools that you would use regularly if you had them. These might be better candidates for buying if the price is right.
How Often Will I Use This in Future DIY Home Renovations?
Some DIY renovators do one big project, and they are done; while others are constantly fixing up their homes and the homes of friends. Perhaps you’re a landlord and renovate your own properties. Or perhaps you buy, renovate, and flip homes for profit; the tools in question would be highly useful in future renovations.
However, if you don’t often renovate or if the equipment is specialized just to this project and would not be useful in future renovations, the smarter choice is to rent now and save yourself the expense on equipment you may never use again.
How Long Will I Need the Equipment for This DIY Home Renovation?
The next question is how long you will need to use the equipment in question during your current renovation. Often, when we need something unique, we only need it for a few specific tasks and that’s it. Maybe you need to cut and hang two sheets of drywall and that’s all the drywalling you’ll do this decade. Or perhaps you need to cut and shape some paving stones, but then will not need it for anything else.
In these cases, renting is the more practical choice, so you can make use of the right tool without a large investment in the full price of the equipment for just a few hours of use.
How Much Does Buying vs Renting Increase My Project Costs?
Always consider the price comparison when considering buying or renting equipment. It may be tempting to buy something nice for your workshop or a tool you may or may not use in the future until you compare the cost to your project budget. For large and specialized equipment, renting allows you to pay a fraction of the purchase cost for the few hours, days, or even weeks you need the equipment for your DIY renovation.
This can allow you to take on much more interesting or extensive renovations by reducing the total cost of the project with equipment rental.
Does the Equipment Require Ongoing Maintenance that I’m Prepared to Do?
Finally, don’t forget that some pieces of equipment can’t sit or hang in your garage for extended periods of time safely. Many types of equipment for renovations need regular upkeep and maintenance beyond what most homeowners are prepared to put in for workshop equipment. If a piece of equipment is high-maintenance, it’s easier to leave in the care of equipment rental services who keep it serviced and ready for service.
Should you buy or rent the equipment you need for your DIY home renovation project? In some cases, this might be your chance to expand your workshop collection. But for many pieces that are high-cost, high-maintenance, or that you will never use again equipment rental is a practical solution so you can do the renovations you want without worrying about the cost of buying all the equipment you need. For more on equipment rental or to schedule equipment rental for your home renovation project, contact us today!