Should I Buy or Rent my Router to Save Money? The ultimate ROI Analysis
When I moved into my new apartment and setup an internet connection with Spectrum, the next big question was should I buy my own router or would rent from my ISP?
Being a numbers freak myself. Running the numbers made the decision easy. You need a modem for your internet to work. If you want Wi-Fi, you’ll need a router, too. Internet service providers typically charge $10 to $15 per month to lease a router.
I put in my math skills and calculated that i could save a whopping 4644$ over 20 years i purchased my own router.
(NOTE: 10$ per month, contributed for 20 years, yield at 6% compounded monthly)
A Router costs anywhere between 30$ to 200$ and it would pay for itself in few months and would be a good investment. So, to brief. I decided i would buy my own Router instead. I head over to ebay and they had a flash sale and purchased this beauty for 50$. And this is one my wise investments that i would call an asset.
When Leasing a Router makes sense
Though buying a Router has its own advantages. You can consider renting a Router if,
- You are living with roommates and don't want to deal with the hassle of convincing everyone to buy a new Router
- Your employer is paying for your Internet bill
- Your living situation is temporary and you will be moving out soon
So, Pay upfront to save long term
Buying a router will increase your upfront costs, but lower your monthly internet bill. you’ll save money in the long run. And that’s always a smart decision