I've been going back/forth with this situation as I get ready to purchase a new tractor. On the LS i'm looking the bh is $6500, I know some brands they are 7-8k though. I came to the conclusion that it's worth it in the long run to get one. I know someone posted that a monthly rent was 1k for them but that is not average, that is way below average or they where mis quoting that poster. Here is what a mini ex rental is in the St. Louis metro area where I'm at.
Equip Rental & Sales basically $250/day(based on 8 hour day not a full day of use) or just under $3k/month. Add more if you need them to deliver it, generally about $100 round trip. So assuming you BH costs you 7500 and it's 250 a day to rent a mini ex that's 30, 8 hour days rental before your break even point. That's really not a lot, say you keep your bh for 5 years that's only 6 days a year usage of a bh before it breaks even. A BH you can also sell with or without the tractor for at least half price minimum after 5 years, and that's giving it away, which reduces your break even or profit point even more. Yes a BH is a costly item, but so are a lot of attachments, some people get harley rakes which are 8-10k and have less use than a BH in my opinion. Yes a mini ex is more efficient but I think it's a stretch to say that a mini ex will run circles around a compact tractor bh considering the things that a person using a compact tractor bh would do. You also don't have to worry about getting one delivered, taking time out of your day to go rent it, or rushing a project because you're on the clock, because the rental clock on those things starts as soon as you fire it up as it's based on hours on the engine and those things move at a snails pace. And if you break something on that rental that more than likely has been treated like crap anyway then you can forget about renting be cheaper because your cost just went up a lot. Heck some people pay 30-40-50k on a cab decked out tractor, that pays for a lot of skid loader and mini ex work but we still buy anway. In my mind, if you think you will use it for 3-4 days min a year, keep it for 5 years, and the funds for one aren't an issue get one. You'll get your moneys worth over a rental and get money back if you sell