Furnished vs Unfurnished Rentals — A Real Cost Comparison

"Should I rent a fully furnished place for convenience, or an empty one and furnish it myself to save money?" — I hear this question almost every week from tenants in District 7 – Phu My Hung. The short answer: neither option is always cheaper. A furnished unit costs more each month, an empty one costs a large sum up front, and which one wins depends mostly on how long you plan to stay. I have worked as an advisor in this area since May 2023, so what follows is how I help clients run the numbers themselves, not an official price list. Every figure is an illustrative estimate to show the method; real prices vary by building, by unit and over time.

"Furnished" in District 7 really comes in three levels

Listings use the word "furnished" quite loosely, so before comparing prices, work out which level a unit actually is:

• Empty (developer's standard handover): usually flooring, kitchen cabinets and bathroom fittings, sometimes air conditioners and curtains. No beds, freestanding wardrobes, sofa, fridge or washing machine.
• Basic furnishing: adds air conditioners in the rooms, curtains, hob and hood, water heater, sometimes built-in wardrobes. You still supply beds and mattresses, sofa, dining table, fridge and washing machine.
• Fully furnished: ready to move in with a suitcase — beds and mattresses, sofa, dining table, fridge, washing machine, sometimes even crockery, bedding and a TV.

The rent gap: an illustrative example

From what I see when viewing homes with clients, for the same building and the same size, a fully furnished unit is usually listed a few million VND per month above a basically furnished one. In Phu My Hung, two-bedroom units of roughly 70–100 m² are currently listed across a wide range, from under 20 million to over 30 million VND a month depending on the building, view and furnishing; in more affordable projects elsewhere in District 7, a two-bedroom can be around 9–13 million.

Take a hypothetical two-bedroom unit to work through the numbers:

Item (illustrative estimate)	Basic furnishing	Fully furnished
Monthly rent	16 million	19 million
Extra cost per year	—	+36 million
Up-front cost of furnishing yourself	70–110 million	0
Resale when you move out (est. 30–50%)	recover 25–50 million	0
Moving, assembly, your time	3–8 million per move	close to 0

The 70–110 million covers a moderate, livable setup for two bedrooms: beds and mattresses, wardrobes, sofa, dining table, fridge, washing machine and a few odds and ends. If the empty unit has no air conditioning, add roughly 6–12 million per 1HP inverter unit depending on the brand.

How to find your break-even point

The simplest calculation I use with clients:

1. True cost of furnishing yourself = purchase cost − expected resale + moving costs.
2. Rent gap = (furnished rent − basic rent) × number of months you plan to stay.
3. If (2) is larger than (1), furnishing yourself wins on money. If it is smaller, renting furnished wins.

With the example above: furnishing costs about 90 million, resale brings back about 35 million, plus 5 million for moving — a true cost of about 60 million. The furnished unit costs 3 million more per month, so break-even lands at roughly 20 months. Stay under 1.5 years and the furnished unit is usually cheaper overall. Stay beyond 2 years and furnishing yourself starts to pay off — as long as you don't move house several times.

The hidden costs of renting an empty unit

The calculation above doesn't capture everything. The items I see clients overlook most often:

• Time and effort: choosing furniture, waiting for deliveries, assembly — often two to four weekends. For someone who has just arrived or has a busy job, this is not a small cost.
• "Camping" weeks: if you move in before everything arrives, you may need a hotel or a temporary mattress for a few days.
• Sizes that don't fit: a sofa bought for this unit may not fit the next one. Every move means selling some things and buying others.
• Damage in transit: moving by small truck, with goods lifts restricted to certain hours — scratches and breakages are common.

On the other hand, a furnished unit has hidden costs of its own: you are responsible for looking after the landlord's belongings, and damage from misuse can be deducted from your deposit.

When fully furnished makes sense

• You plan to stay less than roughly 1.5–2 years, or you're not sure how long work will keep you in District 7.
• You're a newly arrived foreigner on a short employment contract, or your company pays a fixed housing allowance.
• You don't have a car, don't want to spend weekends shopping for furniture, and value moving in straight away.
• You're renting temporarily while waiting to receive a purchased home or to decide where to settle long term.

I often tell clients: the monthly premium on a furnished unit is a fee you pay for flexibility. If you need flexibility, it's money well spent. If you're sure you'll stay a long time, you're paying for something you won't use.

— Quynh Ngo Land advisor

When an empty or basic unit is the better deal

• You plan to stay 2–3 years or longer and already know the area.
• You have young children or specific needs (bunk beds, study desks, toy storage, a mattress you prefer) that existing furniture can't easily meet.
• You already own a lot of furniture from your previous home and only need to fill gaps.
• You want to negotiate a long lease at a good price: landlords of empty units are often more willing to accept lower rent in exchange for a tenant who will stay for years.

A middle option few people consider: rent a basically furnished unit, then ask the landlord to add a few big items such as a fridge and washing machine for a small rent increase. Many landlords agree, because those items remain theirs after you leave.

The lease and the handover record — the part many people skip

Whichever option you choose, the paperwork decides whether you get your full deposit back. A few general pointers:

• Under Vietnam's 2023 Housing Law, a residential lease must be in writing, but notarisation or certification is not mandatory unless the parties want it. An un-notarised lease is still valid if it meets the general conditions of civil law.
• Deposits in this area are usually around 1–3 months' rent, depending on what is agreed. Write the conditions for returning the deposit, and the deadline, into the lease.
• For a furnished unit, a handover record with a list and photos of every item is essential in practice. Note the condition too: "scratch on the left arm of the sofa", "washing machine works normally". When you hand the unit back, both sides check against exactly this list.
• Agree clearly on who pays for repairs: normally the landlord covers natural wear and tear and the tenant covers damage from misuse — but write it down rather than relying on "the usual practice".

Conclusion

Choosing between a furnished and an unfurnished rental is essentially a choice between paying more each month for flexibility and paying a lump sum up front to save over the long run. Start from the question "how long do I plan to stay", work out the break-even point using the real figures for the unit you're viewing, then add the time and effort that a spreadsheet can't show.

If you're weighing a few units in Phu My Hung and want a concrete comparison — same building, same size, different furnishing levels — I'm happy to view them with you and point out what to check in the handover record, including each unit's weak spots.