With the ability to rent most power tools from your local building store, you may be wondering if it’s worthwhile to buy that miter saw you’ve been eyeing. The answer depends on factors such as what types of projects you do, your budget and how much space you have for storage.

For example, if you’re an avid DIYer, having your own tools makes a lot of sense. Having to rent every time you have a project will add up quickly. Plus, you may not want to make a trip to the hardware store every time you feel an itch to fix or build something. However, even if you are someone who likes to keep busy with projects around the house, some of the bigger tools may be financially out of reach. In this case, renting only when you really need them makes sense. Also, keep in mind that tools take up space and if you live in a condo or small home with no garage, your storage space may be limited. On the other side of things, if you only need certain tools once or twice a year, it may be wise to save your cash – and save some space – by renting.