If you're a do-it-yourselfer with home repairs, consider renting tools, especially if you plan to use the tool only a few times, Karp says.
Renting provides you with a commercial-quality product for less than it would cost to buy a lower-quality consumer product, says Karp.
Before renting, make sure you can use the tool safely. For example, Home Depot spokesman Stephen Holmes says he would not be comfortable using a table saw.
"You want to avoid doing any kind of property damage with the tool as well," says Holmes. "You don't want to compromise the safety of your home because you don't know how to deal with wiring or plumbing."
Renters generally are charged for repairs needed to fix a damaged tool. Holmes says that if you don't bring a tool back clean, you'll be charged a cleaning fee. That's pretty much the industry standard.
Normal wear and tear is expected, says Holmes.
Home Depot does offer a protection plan, which is 10 percent of the rental costs and covers any tool repair costs.
You can also rent tools from places such as United Rentals based in Greenwich, Conn., and Sunbelt Rentals based in Fort Mill, S.C.