Home renovations require a lot of money to accomplish. Whether you can afford it or not, that is the question. There’s a lot of ways you can do to save money but still succeed in your home renovation project. One of those ways is to rent heavy equipment instead of buying them. Here are the benefits of why you should:
1. Save on Maintenance and Repair Costs
Heavy equipment requires maintenance to ensure its longevity. If you own one, you have to put in the effort and money to make sure that you made a worthy purchase. You have to regularly check the parts if they’re all still working properly. If you rent, you don’t have to deal with that. Let the actual owners handle it. However, as the renter, you also have to make sure that the heavy equipment you choose is in good shape. Check the parts and tell the owner if you need replacing your skid steer rubber tracks. Make sure that it's all in good working condition to avoid accidents.
2. Avoid the Initial Purchase Cost
Heavy equipment is expensive. You’re going to have to put aside a huge chunk of your budget to have the money to buy one. It’s not only your bank account that will suffer, but you might have to compromise on a lot of things to be able to afford it. If you’re doing a home renovation on a tight budget, buying heavy equipment is not a smart idea. You’re on a tight budget in the first place, so you can’t afford to splurge. Instead of paying for items that you’ll only use during one home renovation, you should allocate that money into other things you need for your home.
3. Get the Latest Model
When you buy heavy equipment, that means you’ll have to use it for as long as you can to get the most out of your purchase. Because it’s expensive, you can’t afford to keep buying every time a new and better one comes out. If you rent, you always have a choice to pick the most updated one that is more efficient and can do the work faster than the old versions.
4. No Storage Requirements
If you own heavy equipment, you have to find storage solutions to keep those huge and bulky types of machinery. This is a problem if there’s no space in your property or your neighborhood to store heavy equipment. You’ll have to find other spaces, which you’ll most likely have to rent, adding more costs on top of the initial purchase. If you rent, you don’t have to worry about storing it at all because the owner of the machine will get it back at the end of the task or renovation.
5. Avoid Transport Costs
If you did store your heavy equipment away from home, you’re going to have to bring it back to your house when you need it again, which will probably be years after your initial use. You’ll have to pay for the transportation costs and might even experience delays if you have no idea how to handle heavy equipment.
Unless you plan to create your own rental company, buying heavy equipment is not a wise idea for your home renovation project. Renovating your home doesn’t happen every year, so there’s no use to buy expensive machinery that you’ll probably only use once. Invest your money on high-quality materials for your home and just rent the heavy equipment.