When shopping for home appliances, most people naturally gravitate toward mid-range models that won't break the bank. While this approach may seem easier on your wallet, spending more on home appliances can come with several benefits that are worth considering.
High-end appliances typically have longer life expectancies, better performance, and stylish designs that match the décor of modern homes-but are these qualities really worth the high price tag?
To help you figure out whether you should splurge or save, we'll walk you through different scenarios in which it makes sense to spend more on home appliances.
Do You Rent or Own?If you rent a home or an apartment, you probably have the same home appliances that were provided by your landlord. Although you may not be thrilled with your outdated refrigerator or range, it just doesn't make any sense for you to splurge on fancy kitchen appliances.
You can, however, appeal to your landlord about getting new appliances for your rental unit. By using increased energy efficiency as a selling point, you may be able to convince them that upgrading your appliances is in both of your best interests.
If you own your home, you may want to consider upgrading your home appliances to high-end, energy-efficient models. Not only will high-end appliances last longer and cost less in repairs, but they can also potentially help your home sell quicker.
How Long Will You Be Living in Your Home?If you only plan on being in your home for a year or less, you may not need to spend on nicer appliances right away. This can also be said for other features of the house, including furniture and decor. Still, you should use this chance to squirrel away money for when you plan on staying somewhere long-term. While you have the time to save, figure out how to budget for your next big appliance purchase, so you can buy exactly what you want when the time comes.
If you plan to stay put for a few years, it makes more sense for you to splurge on home appliances. This is especially true if you're swapping out old home appliances for newer, energy-efficient models.
Do You Live in a Luxury Home?For instance, upgrading your 15-year-old refrigerator to an energy-efficient refrigerator can save you as much as $260 over a five-year period, according to ENERGY STAR. Other home appliances that are notorious for driving up energy bills include clothes dryers, electric ranges, and stand-alone freezer units.
If you live in a luxury home surrounded by million-dollar houses, people will naturally expect to see high-end appliances in your home as well. Luxury appliances can instantly elevate your home and make it stand out to visitors-and, potentially, future buyers.
What Features Do You Value?On top of their sleek and sophisticated appearance, luxury appliances come with top-of-the-line features that can add an extra level of comfort to your home. Just imagine searing a steak to medium-rare perfection on your high-end gas stove or keeping your food fresher for longer in a dual-compressor refrigerator. This is just a small taste of the unrivaled convenience and beauty that high-end home appliances have to offer.
At the end of the day, it really boils down to what features you want in your home and kitchen appliances. If you spend the majority of your time cooking and want all the must-have stainless steel appliances for your kitchen, the higher price tag that comes with them may be worth it to you.
How Cheap Is Natural Gas in Your Area?If you rarely spend any time at home, you may value efficiency and time-saving features in your appliances. It may make perfect sense for you to splurge on a high-end washing machine and clothes dryer to get your laundry done in less time.
While buying natural gas appliances can cost you a pretty penny upfront, it may be worth it. Natural gas is often far cheaper than electricity, which can lower your utility bills and save you money in the long-term.
The longevity and efficiency features of natural-gas appliances are certainly appealing in the long run. However, we recommend considering how much the average price of residential natural gas is in your area along with the cost of running a gas line (if needed) before you put your budget toward these items.
If you're in the process of renovating your home, upgrading kitchen appliances can be a costly endeavor. Although you might be tempted to save money wherever you possibly can, higher-end home appliances will be with you for a long time. While cheaper appliances may save you money up-front, there will be plenty to pay down the road, as cheaper materials break down sooner rather than later. Higher-end appliances often come with a long-term warranty, which can end up being worth every penny.
There are also plenty of ways to help you save money on home appliances without sacrificing quality. For example, you can check for appliance rebates, take advantage of seasonal deals, and look for home appliance package deals that shave money off the total price.
