Ways to buy furniture in Canada without a heavy down payment

buy furniture in Canada
buy furniture in Canada

Toronto: If you are a newcomer to Canada or a new home buyer or a family who just moved into a new home for rent, buying furniture for your home can be stressful. The stress is all about the money involved and the down payment you need to pay. This feature will give you a few tips to be judicious while buying furniture for your home.

  • First, you need to know the places you can seek help from to acquire your furniture
  • Secondly, you need to understand the things to consider while buying furniture

Who can be of help?

  • Banks are the safest go-to when it comes to furniture loans for your home. You have a stable interest rate. But to get your loan approved in the bank you need to have a good credit score
  • Furniture stores themselves offer loans for furniture that they sell. Every shop has its own rules, interest rates and financing plans, so talk to your furniture store dealer about the loan plans at the store. Most stores offer a variety of financing plans like deferring your payment up to  3, 6, 12 or even 24 months.
  • If you have a bad credit history there are private and online money lenders who can finance your furniture. Talk to them about the furniture finance that you are looking for and settle with the one that offers you the least interest rate and feasible term of repayment.

What are things you should consider while buying furniture?

To make your repayment effortless and end without hassles, make sure you consider the following carefully. Prudent consideration of these and thoughtful planning will help you own a beautiful set of furniture in the most cost-effective way without a down payment.

  • If the budget is quite limited go in for used furniture. Numerous estate sales stores sell good quality used and recycled furniture, check on them and make a wise deal.
  • When you are running short of down payment you can also talk to the store personnel about layaway. In this deal, the furniture will lay in the store for the term you make the said sum and then can be brought home after that payment is done.
  • Be cautious to always stick to your budget, since the entire family is involved in this purchase, chances are you might easily go overboard on the budget. This makes your installments pricey and puts you through tremendous pressure.
  • At the same time when you are conscious about pricing, don’t compromise on the quality. If the quality of the furniture is bad, you might have to spend money on repairing the furniture and also reinvest in a new piece within a short duration.
  • If you have a plan to relocate shortly or you do not have enough funds and your credit score is also not in your favour, another smart move you can think of is to rent-a-furniture, pay for it every month and then return it later or own it by paying the whole price.
  • Another sincere piece of advice from interior designing gurus goes like this, do not overcrowd your house with furniture, make it simple, functional, pleasing and minimal. This can make your home spacious, cosy and comfortable for all.

Now that you have all your tips to buy the furniture for your home without a down-payment, don’t let the exercise of buying furniture for your home burn your wallet unnecessarily. Make the right and prudent choice!

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