Is It Better to Buy or Rent Tools When Renovating Your Home?

Buying or renting equipment is a major dilemma that the majority of homeowners face when they’re about to renovate their own home. There’s no simple answer to this question. Sure, you can hire a crew with their own tools but this is quite expensive. For DIY projects, you will need equipment of your own but some tools are too expensive and you’ll probably use it only once in a decade. Then again, there are some basic tools (hand- and power tools alike) that you will need for your household maintenance. Let’s dig a bit deeper into this topic in order to figure it out.

A general rule for Buying vs. Hiring

The simplest way to figure out whether you should buy or rent a tool when renovating the place is the so-called 60% rule. If you’re using the tool 60% of the time or more, you should definitely buy it. The problem is that a renovation is a one-time thing. This means that there’s little justification of making an expensive purchase, especially for heavy equipment like power generators or bulldozers. Just think about it, you’re going to demolish a part of your home or remove some rubble and your use for the bulldozer in question is, more or less, done. However, there are some tools that you might want to use in subsequent household maintenance. Speaking of which…

Is it necessary for Subsequent Maintenance?

If the renovation tool is necessary for subsequent maintenance, you want to own it. So, what does this imply? It’s impossible to imagine a household that doesn’t own some basic hand tools. We’re talking about a hammer, a screwdriver, a tape measure, a flashlight, etc. The same goes for some power tools that might come in handy for both household repairs and outdoor maintenance. For instance, a chainsaw can be quite useful for landscaping and pruning, although there are more sophisticated tools for this job, as well. The key thing is that you want these items to be in your possession, which is why you should definitely buy them.

What about some Larger Tools?

Now, if you’re working on your home’s façade or plan to remodel a roof, chances are that you will need a platform. You should therefore hire a boom lift or a scaffold instead of buying them. Just think about this for one second. Even if you were to buy them, where would you keep them? It’s ok for them to be parked outside of your property for a while but is this really a permanent solution? The volume of materials that you’re handling during the remodeling is also a lot greater than the one you would have to manage during simple repairs. This is why finding a forklift rental might be the best of ideas. If you’re not working with too much, you can even get by hiring a hand trolley.  

Adjusting to the Project

Another thing you need to do in order to figure this one out is making an extensive list of all the tasks needed to complete this project. The answer is simple, the tools need to adjust to the project, not the other way around. Once you have the list, it’s fairly easy to prioritize, however, you have one more missing factor – the project budget. The amount of money that you intend to spend on your home’s renovation needs to be used for materials, tools and wages to professionals you intend to bring to the project. Make sure that you’ve set a big enough portion for the tools but not too much so that you would put the entire project at a risk.

Who are you Hiring?

If you’re hiring a professional crew, chances are that they already have all the necessary tools for the project. Previously, we’ve talked about needing a scaffold in order to redo your façade. Well, if you hire a professional crew, they already have a scaffold of their own and it’s already included in the price. This means that you would only have to worry about the tools for the DIY aspects of the project. Alternatively, you could hire an improvised crew consisting of freelance construction workers and provide them with tools of your own. This does create a potential for the overall lower cost but makes the project a lot riskier. 

In conclusion

The last thing you need to take into consideration is the fact that renovating your home tends to be an expensive matter. This is why it’s your job to try and cut costs wherever you can. However, you also need to be careful that your ‘austerity’ doesn’t bring the success of the project into jeopardy. Sure, it’s tough to make a call but it’s one of many responsibilities that come with being a homeowner. You need to own up to this responsibility and make the right choice. Now, you have the information to make the right decision.

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