Is Cheapest Best?
I have always appreciated good tools. I may have paid through the nose for them sometimes but I still have many tools I bought 20 years ago and they will last my lifetime and beyond. They have proved to be a good investment but does the same principle apply to other products in other areas of life?
Food – The jury may be still out on the actual health benefits of better quality food though for most of us our feelings are that organic is better tasting than non-organic and if we feel the food is better for us then we may actually feel healther due to a placebo effect. If you enjoy good food then Organic will probably give you greater taste and texture experiences.
Houses – You can buy a great house in a poor area and get much more house for your money or you can buy a cheap house in a good area and you will get a lot less house for your money. So what makes for a cheap house? House prces are all relative to each other so if you can buy a house for less than similar houses in the same area are selling for then you have a cheap house. There is usually a reason why a house is cheaper than similar properties. It may be that it needs a lot of maintenence or updating. If you can do the work yourself you could make a lot of money once you have done the work and decide to sell up.
If you can find a house that is being sold by a forced seller you may well get a bargain. Forced sellers can be selling for many reasons such as difficulty repaying the mortgage or moving area for work. If you can buy one of these homes you may get a very good buy indeed.
Cars – Modern cars are build to much better quality control standards than they used to be years ago. These days most cars are reliable and will go on for years. Cheap cars may have lower quality fittings and fewer gadgets and powered accessories but if you want to save money then a car with basic features such as hand wound windows then you can save a great deal of money and possibly lose less money on depreciation than you would on the more expensive cars. So the answer is yes, the cheaper car will probably save you money and you will have lower repayments or more money left in the bank earning interest. Only you can decide if the lack of comfort and extra features matter to you.
Computers – Generally speaking most computers are capable of most of the ordinary tasks the average person wants to do these days. If you have specialist needs then a cheap computer may be lacking but for the majority of people a cheaper computer will do the job required. It may be that paying more means you get longer and better guarantees and the computer will probably have more powerful features but unless you make use those extra features you will be wasting money.
Sound Systems – If you cannot hear the difference between good quality hi-fi sound systems and a lower quality, cheaper system then you may be wasting money on a more expensive system. Reliablity of electronic products is pretty good these days so both systems will probably last you for some years so let your ears decide. If you like the sound then it should do the job for you.
So, it would seem that the simple rule is that if you have high standards in a certain area then you should buy better and more expensive products because you will appreciate the difference but if you are looking at things that you are not familiar with and you do not expect to use them a great deal then cheap is ok. If it does what you need it to do then it will be adeqauate and you should be happy with your purchase.
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