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Rent vs Buy Furnace: A Guide to Help You Decide

Topics: Rent vs Buy Furnace

If you’re trying to decide whether to rent vs buy a furnace, we can help. We’ve put together a guide of the questions that will help you determine whether a furnace rental or a furnace purchase is right for you.

Question #1: How long will you be using your furnace for?

Forgive us for stating the obvious, but if you’re only going to stay in a home for a set amount of time, renting a furnace may be the way to go. However, even if you’re planning on staying in your home for a good, long time, purchasing a furnace can be a big decision. If you’re not ready to commit, a furnace rental can be a good way to test the waters, so to speak. If you know what kind of furnace you like and want to commit for the long haul, purchasing a furnace could be better for you.

Question #2: How much can you pay upfront and in the long-term?

This can largely depend on your furnace provider, but often times —like with most rent vs. own scenarios — you’re going to pay more up front for something you’re purchasing vs. something you’re renting. On the flip side, with a rental, you’ll be paying as long as you continue to use the unit, whereas a purchased unit will be paid off eventually. Some furnace providers — such as HomeBridge Canada — offer monthly payment plans when purchasing a furnace. HomeBridge Canada also offers a rent-to-own program for furnace rentals.

Question #3: What kind of warranty plan do you want?

Again, this one can depend on the furnace provider, but in many cases with furnace rentals part of your monthly payments includes a life-time warranty for as long as you’re renting. With purchasing a furnace, however, there may be a time when the warranty is up.

Question #4: How much are you willing to invest in repair?

When you rent a furnace, generally the repair costs are covered by your furnace provider. Depending on your warranty, if you own a furnace, there may be some costs you’re obligated to pay if a problem occurs.

Question #5: Is the value of your home important for you to consider?

Installing a furnace permanently in the house you own can raise its value. If you’re planning on making it your forever home, property value may not be of much importance to you. But if you’re looking to sell, a pre-installed furnace could make your home that much more attractive.

Deciding whether to rent vs buy a furnace is a big decision that shouldn’t be made lightly, but it’s also not a decision you have to make alone. HomeBridge Canada’s qualified HVAC consultants can help you decide what’s best for you.

As mentioned, HomeBridge Canada also offers plans that make the decision easier no matter whether you choose a furnace rental or purchase. You can opt to rent-to-own your furnace, or we also offer monthly payment plan for those purchasing. We offer our services to those in Barrie, York Region, Simcoe County, Orillia, Innisfil, Midland, Coldwater, Bradford, Horseshoe Valley, Alliston, and beyond.

Call us today to find out more or schedule a free consultation at 1-866-876-9986 or visit www.homebridgecanada.com.