Whether or not you should pay more for quality is a decision that comes up often when shopping. The answer varies depending on the product.For some purchases, paying more is a giant waste of money which would be better spent elsewhere. For other items, it’s well worth the additional investment up front to ensure a quality product that lasts. So, how do you decide?
This question could be asked of virtually any purchase, so we can’t cover them all. However, here are seven examples of popular purchases and our verdict on whether it makes sense to pay more for quality:
Cars: Pay More for Quality
When it comes to buying a car, especially a used car, going with the cheapest option could be a big mistake. There are plenty of stories of people who bought used cars thinking they were getting a deal, only to discover the car needed costly repairs. Although state “lemon laws” exist to protect consumers in situations like those, you may not discover the car’s problems right away. Ultimately, you could be left with a vehicle that costs you more than expected.
It’s worth it to pay more for a quality car that has a clean history and is up-to-date in its maintenance. Buying cheap will likely cost you more in the long run. A completely new car might be out-of-budget for many people (and isn’t the best idea from a personal finance standpoint, anyway!). Buying a late model used car can be just as good as new, though, and you’ll likely be able to extend the warranty on it.
Homes: Pay More for Quality
Things like location and square footage are important factors to consider when purchasing a home. These shouldn’t be overlooked solely for the sake of price.
Unlike an ugly kitchen that can be remodeled, the big concerns will be difficult (or impossible) to change later on. Buying a home that’s in a bad neighborhood or is too small for your family can make you incredibly dissatisfied after a while. Turning around and selling the home too soon after buying is not only a headache, but can also make you lose money.
Learn as much as you can about the homes you’re considering for purchase. If you don’t find the ideal place right away, that’s absolutely fine. House hunting can take months before you find the right property for you and your family.
Smartphones: Don’t Pay More for Quality
You’re probably familiar with absurdly high-priced smartphones like the Apple iPhone or Samsung Galaxy S series. With these phones costing $500 and up, many consumers opt for payment plans. They have a monthly installment added to their cell phone bills in order to even afford the device.
However, if you want a high-functioning smartphone, a $500+ device isn’t your only option. There are competitors who make comparable smartphones that come with top of the line specs as well. For example, the ZTE Axon 7 will cost you about $400 and comes with a sharp camera, generous storage, and an attractive design. Another example is the Moto G4 Plus, which costs $299. It comes with an HD display and a long battery life.
Part of the reason high-priced smartphones are so popular is because they’re seen as a status symbol. If you’re just looking for a reliable smartphone, you can definitely forego the brand name and still get good quality.
Mattresses: Pay More for Quality
You go to sleep on a bed every night. Why not pay a little more to ensure your mattress is comfortable?
Getting a mattress that’s made from durable and high-quality materials can make a big difference in how well you sleep and how pleasant your body feels. Whether you choose a bouncy innerspring mattress or a firm memory foam mattress, you usually get what you pay for in terms of quality. A good mattress can last up to 10 years. But a poor quality one could have broken springs or stagnant memory foam after just a couple of years.
Mattresses can cost thousands of dollars. But you don’t have to pay that price. Department stores like Macy’s have sales throughout the year that can save you a considerable amount of money on such a large purchase. Be sure to also shop around at local mom & pop stores near holiday weekends (like Labor Day), as many of them will be willing to negotiate the price with you.
Walking/Running Shoes: Pay More for Quality
Foot health is important, but often overlooked. Many see foot pain as unavoidable and as something you just have to deal with when you’ve been on your feet for long periods of time. However, that doesn’t have to be the case. High quality walking/running shoes can not only prevent foot pain, but can also support your soles and offer breathability.
Although high quality walking/running shoes offer better support, they do experience wear and tear just as any other pair of shoes would. If you use them daily, it’s recommended to replace them about every six months. This may come as a large expense to you if you’re not used to buying top of the line shoes or replacing them that often. But it’s worth it if it means preventing pain and promoting good foot health.
Batteries: Pay More for Quality
If you have small children with lots of electronic toys or otherwise use electronics often, you know how important it is to have long-lasting batteries. Dollar store batteries just don’t hold up to the trusted brands, Duracell and Energizer. In fact, some electronics specifically call for high-quality batteries in order to function properly. I’ve experienced this with my digital camera.
If you look at some dollar store battery packages, you’ll even see recommended purposes for the batteries. The recommendations are usually for low-drain devices like alarm clocks or television remotes. When it comes to high-drain devices, like a video game remote control or a digital camera, you’ll want to pay more for high-quality batteries.
Sunglasses: Don’t Pay More for Quality
Sunglasses are eyewear that protect your eyes from the ultraviolet (UV) rays in sunlight. There are two types of UV rays: UVA and UVB. As long as your sunglasses protect from both types of UV rays, you don’t have to worry about the price of them. Beyond that, you often pay more for style. Just look for the sticker that indicates the UVA/UVB protection. It might also say “100% UV protection”, which means the same thing.
Sunglasses, in general, are fragile. To decrease the likelihood of breaking them, try not to keep them in your pockets or hanging from your shirt. The best place for them when they’re not on your face is in a case.
There are plenty of times when paying more for quality equals a better product. There are also times when, clearly, it doesn’t. When you’re considering a purchase, really take time to think about and research whether the increase in quality is substantial enough to warrant paying a lot more. This is when it’s important to do things like read online reviews, to further examine your choices.
What other purchases can you think of that warrant paying a bit more for quality… or some that don’t?
Updated February 25, 2017 and originally published February 16, 2017.