- Posted by admin
- On January 31, 2018
- furnace, furnace replacement, Hamilton
When purchasing a new home, expenses start to add up quickly and the idea of renting a furnace instead of buying one appears to be a tempting way to save some money in the short term. We’ve created an infographic to show you what to expect in Rent vs Own situations you may be faced with, and how it will impact your future expenses and your home.
Some of the biggest takeaways when trying to decide if you should Rent vs Own is to remember that you will eventually be paying more money for your furnace if you rent.
Rental agreements are long-term, and even though the rates may appear lower, they go on for an extended period of time that is more than double what you’d be paying to own one outright. Remember that you can finance your new furnace if you choose to own for a shorter period of time, and you may even be able to find competitive low monthly rates.
When you choose to buy a new furnace, you decide who to purchase it from, who will service it, and so forth. You are not tied to a company and have full autonomy of what to do with your unit. When comparing Rent vs Own for yourself, remember that if you rent, you may be trapped with one service provider for the extent of your rental agreement, regardless of if you’re happy with the service provided or not.
Finally, make sure to consider what selling your home will mean for your furnace when you’re deciding if you should Rent vs Own. An owned furnace is considered a plus for your future potential buyers– they don’t have to concern themselves with rental agreements and monthly payments for the unit. However, if your furnace is rented, it can be a negative point in your negotiations, as the owners will have to be responsible for the lease once the home is purchased.
However, if you feel that lower payments make more sense for you at this time, financing a furnace is a great option to keep your expenses down and still maintain great comfort in your home.
Consider all financial and personal aspects when deciding if you should rent or own a furnace,
and feel free to contact a HAMCO professional for personalized advice.
HAMCO Heating & Cooling Ltd. has been serving Hamilton and the surrounding area for over 70 years! We’re fully committed to providing the best quality service for all our customers on every service call and installation.