Rent or Own?
This is a great question. Let us take you through the pros and cons of either option in order for you to be able to make your most educated decision.
Renting is a new trend that is available for rental units comprising furnaces, air conditioners and hot water tanks. Many companies provide these services.
Pros: you don’t have to come up with a lump sum as your will be able to pay for the units on a monthly basis. Your units will be installed quickly and efficiently. You will be able to upgrade to a better brand due to the fact that your monthly payment may only differ slightly.
Cons: you will be tied into a contract that can vary between 8 or even 20+ years, depending on the company. If the rental company goes out of business, you may not be able to collect on your warranty. You may be paying up to 3 times the amount of a furnace paid in full in the course of the term.
Owning is the choice of most people as it gives you flexibility in the brands you choose.
Pros: owning your furnace or air conditioner means that regardless if you sell your home or not, the HVAC unit is yours. Your HVAC unit cost will be lower in the course of 10 years.
Cons: your initial bill will be higher.
If you’re unsure or have questions, please don’t hesitate to talk to one of our certified technicians to assist you.