I am experiencing a loud squeaking sound coming from the front suspension and after trying to trace it to the source, I have come to the conclusion that it is the strut. It is loud and it makes the noise whenever the suspension moves up/down and also when I turn the wheel. I noticed not long before this started that there was a rubber boot around the top of the strut that was rotted and fell off so I would guess that it had something to do with the problem that I am experiencing. Unless anybody has any idea what else might be causing this, I'll be replacing the strut(s) soon.

My question is this: is it a good idea to go ahead and replace both struts at the same time? Are there negative consequences to this if I don't? Thanks in advance.