Whether you are a homeowner or contractor, home renovations often require new, used, or rented equipment to finish the job. Every home renovation is unique, meaning you may need tools or equipment that you don’t already have. At this point, home renovators can choose to buy or rent the equipment they need. Buying has the benefit of equipment ownership, making it available for use in future projects. But there are also many situations where renting is the more practical choice. Which is right for you? The answer can be found somewhere between the cost of the equipment and the amount you’ll need it in the future.
Let’s take a look at the top five reasons why home renovators choose to rent tools or equipment instead of buying.
One-Time Renovation or Building Projects
Some home renovation projects only need to be done once. Pouring a foundation, for example, is something that each structure only needs once. However, the equipment to pour a foundation (among other large one-time projects) is large and therefore expensive. Many home renovators choose to rent the equipment they’ll need for one-time or very rare building projects. This costs much less than buying and makes sense, because they will also never need to use that equipment again. Or, if they do, it will be for another one-time project years in the future with no use in between.
In this way, equipment rental is a lot like party rental. You may not choose to own earth moving vehicles for the same reason you don’t own a popcorn machine or a bounce house. You just wouldn’t use them often enough to justify the cost, storage, and maintenance.
Specialized Tools for Unique jobs
Then there are renovation projects that are so unique that you won’t need the equipment for them again in the future. Home renovations are often highly personal and some even transform into works of art through an architectural medium. From artistic skylights to gravity-defying additions, you may never need the same unique combination of tools and equipment in projects before or after.
In these cases, it also makes sense to rent. Why invest in ownership of tools you only need for one special project? By renting, the cost of the tools simply becomes an easily calculated part of the total renovation cost.
High Maintenance Equipment Needed Rarely
Not all equipment can sit passively in your garage for months or years between purchase and your next renovation project. Some require attentive maintenance or regular servicing to remain in top condition. Some generators and other motor-powered equipment, anything that requires a tank of fuel or changing oil. Equipment meant to process or lay materials are also more likely to need regular maintenance and possibly significant set up or clean up after a job.
For high-maintenance equipment, many renovators choose to rent serviced and maintained gear only for the days it is needed. This allows the rental company to take on the burden of maintenance, servicing, setup, and storage. And it’s practical, because rental keeps these high-maintenance tools in constant use and repair.
Lack of Storage Space
You must also consider storage space for larger tools and equipment. Some equipment requires a vehicle bay and garage space to store whether in or out of use. Industrial rental companies specialize in storing and maintaining a useful number of large construction equipment. They maintain the garage space and then supply the equipment to renovators and construction teams as it is needed throughout the year.
Renting very large equipment or large sets of equipment is the most practical choice for any team that does not need their own equipment kept in use all year long. Only then are storage space and maintenance a practical continuous expense.
Test Case Experiments
The last good reason to rent equipment is for experimental projects. You may have an idea that could be great, but you won’t know until you try. Maybe it’ll be your new favorite home improvement technique. But like any experiment, it might not turn out to be the ideal answer. If you like to experiment, renting equipment for a day or weekend is a great way to try something out without committing to future projects right off the bat.
Is renting the right answer for your home renovation equipment or tools? Asking yourself a few practical questions can quickly make the answer clear for each item of equipment you need. Anything you’ll use regularly all year that is easy to store, it makes sense to buy. But high maintenance, large, and rarely used equipment is often more practical to rent for the few days you’ll need it instead. For more on how and when to rent the equipment you need, contact us today! Our project experts will be happy to consult on your home renovation plans.