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Should I Hire or Buy Construction Equipment?

In the world of construction, a man is only as good as his tools and the various types of construction equipment are the most important tools on the job-site. Forklifts, diggers, bulldozers, boom liftsscissor lifts, and even attachments like digger buckets – all of these allow a single construction worker to do the work of ten men in a tenth of the time.

For any construction company or contractor to be successful, they must have the appropriate construction equipment available at a moment’s notice. So should these businesses and individuals buy all of the equipment outright? Or is it smarter to hire it on an as needed basis?

Pros and Cons of Buying Construction Equipment

If a company or contractor has the capital, it is wise to buy construction equipment outright. This makes availability and convenience a non-issue, as the equipment is always ready at any time for any job-site that needs it, providing you don’t need the same machine on several sites. Operators can learn and master a specific machine instead of learning the quirks of a number of different ones, which will result in increased productivity and ultimately an increased bottom line.

As mentioned earlier, though, capital is key. With ownership comes maintenance costs, operating costs, insurance and legislation costs, storage and other fees. Owning a machine also means that the business or individual is responsible for their own transportation. There are a lot of costs associated with owning construction equipment aside from just the initial cost.

Pros and Cons of Hiring Construction Equipment

If a construction company or contractor has a more sporadic workload, hiring may be the best option when it comes to construction equipment. Hiring is a much more cost-effective option in these situations because the company doesn’t have to worry about storing the machine during downtime, transporting the machine to a job-site or even performing all the routine maintenance associated with construction equipment — the leasing company (Duralift) will handle all of this. In addition, since there are so many different types of construction equipment, only leasing the machines needed for a specific job for a set amount of time is a lot cheaper than buying all the different machines outright.

Of course, over time, the cost of leasing equipment may start to add up. Finding the right company to hire from will negate a lot of these issues, but it is important for a construction company or contractor to really weigh up the options before making a decision.


11 thoughts on “Should I Hire or Buy Construction Equipment?

  1. I think it’s a good idea to hire heavy construction equipment if you have a sporadic workload. That way you don’t have to worry about storing a piece of equipment that you’ll only end up using once. It can save you a lot of money that way! Thank you for sharing!

  2. As for my experience as a secretary, we chose to rent than buy because we were gonna use the equipment only for one project and it only lasted less than a month. Even if it lasted a long time, we won’t have any space for the equipment after we are done with it. It’s really situational.

  3. I like the idea of buying the construction equipment because you always have it handy. Especially if you would be constantly using it and getting what you paid for, this is a good idea. You can also save time because you don’t need to call and wait for the equipment to be ready for you to use. The downside with this though is that you have a piece of equipment just sitting around. But again, if you are using it enough, this doesn’t matter. If not, you can just rent!

  4. I hadn’t thought about how buying a piece of construction equipment could help increase productivity. As you pointed out, using one specific piece of equipment and learning how to use it is going to be easier and faster than spending some time training someone on how to use slightly different machinery every time you work. Granted, the lower cost of hiring the equipment may still be more beneficial to the company; it all depends on how often you plan to use it. http://www.suncityplumbing.com.au/minor-earthworks-services.aspx

  5. I think it’s a good idea to hire or buy construction equipment. It really depends on how often you will be using it. Personally, I need to be hiring a scissor lift for a construction project in my back yard. I’m not going to buy one because I probably won’t need to use it more than once. Thanks for sharing!

  6. I agree that renting out construction equipment might be the best option if they have a more sporadic workload. You also mention that it’s easier to rent the equipment when you have a specialty job and might only need to use that specific machine once or twice a year. I think it’s important to choose an equipment rental company that only charges for as much as you use it.

  7. I like the article’s suggestion that if you have a sporadic workload, equipment hire can be beneficial. That way you don’t have to spend a lot of money on equipment that you won’t be using often. Could this also be a good option for people that are doing a DIY project as well?

  8. That makes sense that a company who rents won’t have to worry about storing a lift during down time. That must save a lot of money. Remember, the cost of ownership includes the cost of maintenance.

  9. I think renting out heavy machinery is more preferable than buying it for companies who have to use it for only a single project. It saves them a lot of budget and space and care of the equipment

  10. There really are some great pieces of advice in here, especially about how hiring equipment may be better for short-term construction projects. If you buy all of the equipment, then you have to find a place to store it and take care of it until you need it again. By renting the equipment instead, you can just send the machines back once you’re done using them.

  11. I’m very satisfied to peer your post.I think it’s a good idea to hire heavy construction equipment if you have a sporadic workload. That way you don’t have to worry about storing a piece of equipment that you’ll only end up using once. It can save you a lot of money that way! Thank you for sharing!

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