When you’re looking for an apartment, one big decision is whether to rent a furnished or unfurnished place. This choice affects both your budget and lifestyle. Furnished apartments come with all the basic furniture you need, making them a great option if you want to move in quickly and easily. On the other hand, unfurnished apartments give you an empty space that you can decorate and fill with your own furniture, often at a lower rent.
In this blog, we’ll break down the financial aspects of both options, comparing upfront costs, long-term expenses, and other factors. Whether you’re a student, a busy professional, or just someone looking for a short-term home, our guide will help you figure out which option is right for you.
Furnished Apartments
A furnished apartment comes with everything you need to start living right away. It usually includes furniture like a bed, sofa, dining table, chairs, and sometimes even smaller things like lamps and kitchenware. You might also find basic appliances like a microwave or TV. This setup is extremely convenient, especially if you’re moving from far away or only planning to stay for a short time.
Pros of Renting a Furnished Apartment
The biggest advantage of renting a furnished apartment is the convenience. You don’t have to worry about buying or moving furniture, which can save you time and money. This is especially helpful for students, professionals on temporary work assignments, or anyone who’s in a transitional phase of life. Plus, in many cases, if something breaks, the landlord is responsible for fixing it.
Cons of Renting a Furnished Apartment
However, all this convenience usually comes with a higher monthly rent. The extra cost covers the furniture and appliances, as well as the ease of moving in without a lot of upfront expenses. You might also have to pay a higher security deposit because the owner needs to protect their furniture investment. While the higher rent might seem like a lot, it can be worth it if you’re only planning to stay for a short time or if you value the convenience of not having to furnish the place yourself.
Unfurnished Apartments
An unfurnished apartment is a blank slate, meaning it doesn’t come with furniture or many appliances. You’ll need to bring or buy your own items like a bed, sofa, and kitchen essentials. This gives you the freedom to decorate and set up the space exactly how you like it, which is great if you’re planning to stay long-term or if you already own furniture.
Pros of Renting an Unfurnished Apartment
The main benefit of renting an unfurnished apartment is the freedom to make the space your own. You can choose furniture and decorations that fit your style and needs. This option is also more affordable because unfurnished properties usually have lower monthly rents. If you plan to stay for several years, the savings on rent can add up and make this a more budget-friendly option.
Cons of Renting an Unfurnished Apartment
While the monthly rent is usually lower, you’ll need to budget for the cost of furnishing the apartment. This could mean spending money on big items like a bed and sofa, as well as smaller things like kitchen utensils and curtains. However, these are often seen as investments, especially if you plan to stay in the same place for a while. Over time, the lower rent can help you save money, making unfurnished apartments a good choice for many tenants.
Cost Comparison Between Furnished and Unfurnished Apartments
When comparing the prices of furnished and unfurnished apartments, it’s important to look beyond just the monthly rent. While furnished apartments usually have higher rent, other factors can also impact the overall cost, such as how long you plan to stay and any extra expenses.
Side-by-Side Rent Price Comparison
On average, furnished apartments can be 15-30% more expensive than unfurnished ones. This is because you’re paying for the convenience of having furniture and appliances ready when you move in. For example, in a city like Columbus, Ohio, a one-bedroom furnished apartment might cost around $1,500 a month, while a similar unfurnished one might be $1,200. That’s a difference of $300 each month, which adds up quickly, especially if you’re planning to stay for a long time.
In areas where short-term leases are common, like near OSU or in places with a lot of corporate housing, the rent for furnished apartments can be even higher. Landlords charge more because they need to cover the cost of maintaining and replacing furniture. Unfurnished apartments, on the other hand, usually have lower rents because they attract long-term tenants, which means landlords have less turnover and more stability.
Furniture and Moving Costs
While a furnished apartment may have higher rent, you won’t have to spend money on buying furniture or appliances. If you rent an unfurnished apartment, you’ll need to budget for these items. Furnishing an apartment can cost anywhere from a few thousand dollars to much more, depending on what you buy and where you shop.
Moving costs are another thing to think about. Furnished rentals are easier and cheaper to move into because you don’t have to transport large furniture. Moving into an unfurnished apartment might mean paying for movers or renting a truck, which can add to your upfront expenses.
Long-Term vs. Short-Term Costs
How long you plan to stay in the apartment is one of the biggest factors in deciding which option is more cost-effective. If you’re only staying for a few months, the higher rent of a furnished apartment might be worth it for the convenience and lack of upfront costs. But if you’re planning to stay for a year or longer, the lower rent of an unfurnished apartment can save you a lot of money over time.
For example, if the rent difference is $300 a month, after a year, you’ll have spent $3,600 more on the furnished rental. On the other hand, if you invest in furnishing an unfurnished apartment, the savings from the lower rent could cover your furniture costs within a year or two, leading to long-term savings.
More Factors to Consider
When deciding between furnished and unfurnished apartment rentals, there are other important factors to consider beyond just the cost. These factors can affect not only your finances but also your overall living experience.
Lifestyle and Convenience
Your lifestyle plays a big role in this decision. If you have a busy schedule or move often for work, a furnished rental might be the best choice. It’s easy to move into a place that’s already set up with everything you need. On the other hand, if you enjoy having control over your living space, an unfurnished rental might be better for you. This option allows you to pick your own furniture and decorations, making the space truly feel like home.
Depreciation and Wear-and-Tear From Other Tenants
Another thing to think about is potential wear-and-tear in furnished apartments. When you rent a furnished place, many different tenants have already used the furniture and appliances. This can lead to wear-and-tear, which might result in extra charges when you move out if your property management company thinks that you’re responsible for the damage.
Resale Value and Potential Savings
If you rent an unfurnished apartment and buy your own furniture, think of it as an investment. Over time, the money you save on rent can help offset the initial cost of furnishing your place. Plus, if you decide to move or upgrade your furniture later, you can sell your current items and get some of your money back.
Making the Right Choice
Key Questions to Ask Before Deciding
What’s Your Budget?
Take a close look at your monthly budget and compare the costs of a furnished and unfurnished unit. If you’re okay with paying a bit more each month for the convenience, a furnished rental might be the right choice. But if saving money over the long term is your priority, an unfurnished apartment with lower rent might be better.
How Long Do You Plan to Stay?
The length of your stay is a big factor. If you’re only staying for a short time, the higher rent of a furnished apartment might be worth it since you won’t need to buy furniture. However, if you’re planning to stay for a year or more, the savings from an unfurnished apartment could add up, making it the more cost-effective choice.
How Important is Convenience to You?
Think about how much you value convenience. Furnished apartments are great for people with busy lives or those who move often. They make moving in easy since everything is already set up. But if you enjoy personalizing your space and don’t mind the effort of furnishing an apartment, an unfurnished option might suit you better.
Situations Where a Furnished Apartment Makes Sense
Short-Term Lease
If you’re only staying in town for a few months for work, school, or an internship, a furnished apartment can save you the hassle and cost of buying and moving furniture.
Frequent Movers
If you move often for your job, a furnished apartment allows you to relocate easily without having to move furnishings.
Minimalists
If you prefer a simple lifestyle with fewer belongings, a furnished apartment gives you everything you need without the clutter of extra furniture.
Situations Where an Unfurnished Apartment is More Cost-Effective
Long-Term Residency
If you plan to stay in the same place for a long time, the lower rent of an unfurnished apartment, combined with the investment in your own furnishings, can lead to big savings.
You Like Decorating
If you enjoy decorating and want a home that reflects your style, an unfurnished apartment allows you to create a space that’s uniquely yours.
Budget-Conscious Renters
If saving money is a priority to you, the lower rent of an unfurnished apartment can free up your money for other things, like savings or your hobbies.
Contact Epicurean Properties Today
Fully Furnished Rentals in Columbus, Ohio
Looking for a stylish, fully-furnished apartment that feels like home? Our furnished apartments offer the perfect blend of comfort and convenience, making your move easy and stress-free. Whether you’re in town for work or need a temporary place to stay, we provide everything you need for a comfortable and luxurious experience.
Contact us today to learn more about our beautifully furnished apartments and how we can make your next stay easy. Get in touch with our team to reserve your next home.
