It’s the little things that make a house a home. In some cases, having the right amenities can turn your house into the perfect place to live. While some focus on the big picture, it’s often wise to focus on these little things. In fact, you might be better off focusing your money on a few high-end amenities.
Enjoying What You Have
To some degree, spending more on high-end amenities is important because it simply lets you get more enjoyable products. Whether you’re looking at an excellent copper saucepan or a great lighting fixture, the reality usually is that you’ll get a better product when you’re willing to move out of the bargain price range. You will generally get your money’s worth when you spend more. The key is to spend on quality not on luxury. Often the difference between a quality product and a luxury product is multiples of price with marginal improvement in quality often the only difference is a fancy label or designer name.
Understanding Value
There’s something to be said for understanding the value of products in general. When you buy a quality product, you’re not just buying something that’s fun—you’re buying something with inherent value. When you buy a product that costs a little more, you should (in theory) also be buying something that will hold onto that value. As such, spending a little more will get you an item that loses value more slowly and that might even appreciate over time. Suppose product A costs $50 and will last a year before it breaks. Also suppose product B costs $100 but will last 5 years or item C which costs $150 and will last 10 or more years. Obviously, item C has the lowest cost per year of ownership. We looked at this issue in a recent article: Home Improvements That Save You Money Later regarding water heaters.
Resale Value
Some of the amenities that you buy will end up staying with your home. Better floors, nicer appliances, granite countertops, and even high-end outdoor living spaces can have a huge impact on the final sales price of your home. When you spend more on these amenities today, you’ll actually be raising the sale price of your home in the future. In such cases, spending more will allow you to recoup more of your expenditures than if you had spent less.
Planning for the Future
Finally, spending on household amenities can play a role in the future. Some of your amenities, like the flatware, can be passed down. Other items, however, might just last longer than their counterparts. When you spend a little bit more, you’re allowing yourself the comfort of knowing that the amenities for which you paid a premium will still be around to enjoy for years to come.
Don’t be afraid to spend a little more on luxury. Doing will let you get the things you enjoy, add value to your home, and might even save you money in the future. While ignoring the deals and paying a premium can be scary, it’s often worth doing if that means that you’ll get an amenity that you can really enjoy.
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