If you are a crafty person, then you probably have all sorts of tools stored in the garage or the garden shed. You have been collecting various power tools, extensions, and screwdrivers for years if no decade, thinking they would come in handy in bulk one day.
That day is Renovation Day and it is fast approaching but you have realized that you are seriously lacking in tools required. Getting those extra tools is a real dilemma; whether you should splash extra cash and buy these tools or rent them, saving on renovation or remodeling costs but having to return the tools after the job is done. You’ve not the first homeowner to be facing this dilemma so here are X tips to help you easily decide.
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Knowing exactly which tools you’ll need
When you were planning the total cost and projecting budget for the home renovation, you’ve probably accounted for every last nail, right? Well, the same general principle should be used for tools, as the ideal scenario is one in which you know in advance which tools will be required to get the job done. Just like with money, it’s a good idea to have a contingency plan with tools as well.
What will you do if a sledgehammer is not powerful enough to tear down a wall? You might want to call in a mini bulldozer which is t0o expensive to purchase and must be rented. This will mean that you have wasted your money on the aforementioned sledgehammer, presuming you have previously bought it just for the renovation.
In this sense, if the renovation is on a smaller scale and you can pretty accurately guess which tools will be needed, then buying the tools doesn’t sound bad. However, if you are tearing down sections of the house, then there is no telling what might go wrong and which extra tools and machine you’ll need to hire. In such instances, it is more reasonable to rent most of the equipment.
Adjust the tools to the job, not vice versa
No matter how hard architects, builders, and DIY-spirited homeowners try, they cannot predict every single task required to renovate a house. A task will pop up here and there that you have no tools for. Don’t neglect these chores, such as trimming wood beams, and definitely don’t attempt to finish them using inadequate tools because this can lead to serious injury.
No matter how versatile your toolbox is, there need for extra machinery will most definitely arise. Always adjust the tools to specific tasks and not the other way around. It is nice that you have a good-quality screwdriver but if there are thousands of screws, then an electric screwdriver is what you really need.
Bring in the big guns
There is one group of tools that are larger than others. Yes, we are talking about cranes, bulldozers, planes, forklifts, and similar vehicles and machines. They come with a hefty price tag so it makes more sense to rent used forklifts for a week or two than to buy a brand new forklift.
You will use it only for the renovation work and then what? If you resell it, you will lose thousands of dollars because it is now a second-hand piece of machinery. Renting out the forklift also doesn’t make sense because you’re not a rental company and don’t want to waste your time on it.
Reaching out to professionals after all
A home renovation is definitely a viable DIZ project. Heck, even adding an extra room above the garage could be done by the homeowner himself/herself. Although you’ll do the brunt of the work, you shouldn’t shy away from soliciting help from professionals in the industry. They might not be needed to bring their tools over but rather to share their expertise and knowledge.
Namely, they have completed hundreds of construction projects so they know in advance which tools you’ll and which one you can set aside. This information is useful in terms of the decision of whether to buy or rent tools for the renovation. Sometimes a good tip runs deeper than a power drill.
Will the tools you buy be used ever again?
So far, renting tools seems like the easier and cheaper option, right? Essentially, it is so but there is one more question to answer before you make the final decision: will the tools you purchase for renovation purposed get used again.
If the answer is “yes,” then it is definitely worth buying them. Perhaps you are planning to renovate the entire house but you’ll do this in stages months apart. In such instances, it makes sense to buy a power saw if you’re manipulating timber. Again, this doesn’t go for heavy machinery that you use only a day or two. Just think about it, if you bought a forklift, where would you keep it?
If you have no plans to use the tools needed to complete the renovation project, then opt for renting. It might seem like a waste of money but new tools cost way more and they are going to lose value (depreciation cost) dramatically one you use them for the first time.
In a world of same-day delivery, we naturally expect our tools to be ready for use as soon as possible. In order to buy new tools, you need to make the trip to the store and then drive back home before tools can be used. The alternative is to shop for tools online but you can never be sure they match your needs if you shop this way.
Rentals are better in the way that they don’t incur transportation costs. In order to attract customers, companies that leave power tools and other construction machinery usually offer free doorstep delivery. This means that you can start work immediately, without having to shuttle between your house and the nearest hardware store for supplies.
As you have seen from our examples, buying vs renting is a dilemma that is solved easily once you know the true nature of your renovation project. The scale of it is a factor as well, so make the final decision based on the fact will you use the tools afterward. If not, then renting is the sounder option.