Paying for High Quality Household Items and Living Below Your Means

[Nords]

It's interesting how much of this discussion revolves around the use that the appliance gets. We've gone through a series of crappy vacuum cleaners and don't really care because ours only comes out of the closet once a month-- so it tends to last long enough that technology improvements move faster. But we use our Scooba a couple hours a week and I have plenty of spares on hand to keep that machine going.

Same for the kitchen appliances. I don't care about good pots or stoves because we rarely use them. OTOH we've spent plenty on a good convection microwave and I'll gladly pay full retail for a convection microwave that will mount under a cabinet. There are days that I find myself whining about having to make do with just one instead of two.

We're still using the original steak knives that were a wedding present nearly 25 years ago. I've never sharpened them and I don't even know if it's worth doing because we don't use them very often and I have enough muscle to make them cut a piece of fruit. However spouse's arthritis is already affecting her grip strength, so she has a set of super-sharp knives that go through meat like butter. I don't touch them so that she'll get max life out of them.

Might just have to have it re-upholstered.

Reupholstery is well worth the cost, especially if they repair any frame problems or add extra braces/brackets before covering it back up.

The best thing is that you can pick a color that never looks dirty, exactly matches your decor, and has all the modern stain-fighting treatments you'd only get from new furniture.

 

[ziggy29]

High-tech isn't really a good place to overpay for high quality that will last for decades, since such equipment will likely become obsolete before even cheaper stuff breaks. I would think items like major appliances and furniture would be an appropriate place to pay up for quality.

 

[52andout]

no regrets paying for highest quality sheets I could find (they are cotton and feel like silk) and a tempurpedic mattress (you spend 1/3 of your life in bed after all)
beautiful dining room and living room furniture, hand crafted wood with wood inlays

We make do with cars, our family room furniture, clothes

also no designer pets here with expensive vet bills and foods. We got a kitten at the shelter- already spayed and all shots and eats only dry food.

also, one aspect of LBYM is taking care of yourself- DH works part time at the Y and we get a free membership. We go to the Y about 5 times a week and the equipment is way higher quality than I could ever want to spend money on.

 

[ls99]

I always try to buy the best quality I can afford. For example in 1971 I saved for more than a year and a half to buy McIntosh amplifier, pre-amp, and speakers for my stereo; they were very expensive at $1500 dollars. .

That is good stuff. My brother had the full complement, tuner, preamp, demux, equalizer, 50 W RMS amps. and a Rek O Kut turnatble.

When he passed away, my SIL kept them as sentimental stuff, then my niece and DH got them. Unfortunately neither had a clue of the quality and chucked them about ten years ago. GRRRRRRRR. I had even told them early on that if they did not want the stuff I'll pay market price. Double GRRRRRR.

 

[Walt34]

Another vote for high quality toilet paper.

+1

That, and whatever we feel is worth what we'd have to give up to have what is more important. For example in the winter we do not even attempt to save on heating bills by turning down the thermostat. But we'll give up dinners out to have a warm house if it comes to that.

Like most posts here, what we'll spend extra on depends on how long we expect to use it and whether the quality is important, as in tools. Cheap tools are usually an exercise in frustration to use so I don't buy those.

For electronics like computers, we'll buy one or two steps back from leading edge and keep it until it won't do something we need it to do. Furniture is "middle-of-the-road" quality as that is the best value point for us.

For cars, we'll buy new with some options but not all of them, and then keep them until either reliability or parts availability become issues. That's usually in the 15 to 20 year range. Although come to think of it, DW has been running the wheels off the car lately....

 

[Khan]

Interesting what folks consider worth spending money on.
Never had clothes dryer, replaced clothes washer with lowest end when it died after 18 years; TV is 20, now unplugged; most furniture only used by cat, will give/throw away in future; electronics: nothing but computer, also low end, replaced when dead; am working towards moving to 1 br apt.

 

[GregLee]

I see that Henckels knives were mentioned twice. I like Ginsu -- my $30 set of 14 in a wood block, mostly serrated edge, bought 2 years ago, still work fine (after one quick sharpening with a cheap little Accusharp tool). I use them every day. I'm quite prepared to throw them away -- I think I've gotten my money's worth now. But for you Henckels enthusiasts, I'll note that Amazon is selling a set of 13, MSRP $122, discounted to $44.90, which is not that much more.

 

[freebird5825]

Another vote for high quality toilet paper.

Are you and Mr Boston in cahoots?

 

[Westernskies]

Are you and Mr Boston in cahoots?

Separated at birth, but both of us got lucky later in life.

 

[Midpack]

I agree with quality cookware and kitchen knives. Same with hand tools. And I can't imagine buying the cheapest appliances, furniture, car, PC or TV either, I usually do a lot of research and find the next to latest or second tier model and buy it on sale - and I'm very patient. I am always looking for the best lifetime (of the item) value.

Like all LBYMers, I keep what I buy and take good care of it, expecting it to last. My last television went 19 years - people at work laugh at me, they buy a new one whenever the technology changes and consider me 'woefully behind the times.' Of course I'm retiring this year, none of them are...

Pretty much the norm here I'm sure.

 

[rockyj]

"High quality" makes a lot of sense, but "high prices" does not.

Well put.

+1 - Furniture. We have much decent, sturdy all-wood furniture either bought used, new but unfinished, or on sale. Buy it once; enjoy it for a lifetime. Cheap laminate stuff, etc., that wears out with use is a frustrating waste of time.

+1 on matress, good bedding and sheets. Too much time spent there to scrimp.

+1 on good knives that stay sharp or that sharpen well. Same for a select few good pans (love my calphalon adonized skillets). (We like to cook).

+1 on toilet paper.

+1 on art - spend what you need (and/or can) to get things you'll truly enjoy for a long time. You're not decorating a motel room. Also good carpets - artwork for the floor - last and enjoy forever - but buy on sale.

+1 on tools (especially durable hand tools like wrenches, gardening hand tools, etc.). Core collection can be bought on sale, only need to be bought once in your life, and are a pleasure to use.

Real maple syrup. No comparison.

Select well made classic clothes - I have found a few items (like woven cotton dress shirts) for which a particular (and normally very pricey) brand just fits better, washes better, wears better, etc., so that in the long run a very few of those are worth way more than a rotating closet full of "bargains".

On the other hand, I am glad that I have never allowed myself to develop a taste for "fine" aka expensive wines. About $10 or less works for me - plenty of varieties and countries to pick from.

Interesting thread.

 

[freebird5825]

...On the other hand, I am glad that I have never allowed myself to develop a taste for "fine" aka expensive wines. About $10 or less works for me - plenty of varieties and countries to pick from.

Interesting thread.

I do draw the line at Boone's Farm wines.
I usually stick to NYS wines to support the industry. I will buy other varieties to try something "new" if it is not available from a regional winery source.

 

[BTravlin]

I supply furniture and kitchen cabinet makers so buy solid wood only, no particleboard or MDF. If their is plywood in the construction specify plywood made in USA and NOT Chinese. Other items I take on case by case basis.

 

[Jay_Gatsby]

Little late to the thread, but here are my thoughts.

Furniture - buy solid wood and classic design (or neutral). It will last a long time and never go "out of style".

Computers - contrary to what "conventional" wisdom says, buy only what you need. The computer I'm typing this on is 3+ years old and would be considered a dinosaur by modern processing/memory standards (1.5 GB RAM, 120 GB HD, Celeron processor, etc...) The "box" cost me $199 brand new, while the monitor was free (originally a CRT from work, replaced by an old "square" flat panel put out to pasture)

Cell phones - buy a basic one and forget the texting/mobile internet. If people need to reach you in a hurry, they can call. Otherwise, written communications can wait until I get home.

Cars - buy new or slightly used. Drive it until the repair costs become a significant percentage of the value of the car (e.g., a repair cost that would be 33% of the value of the car). Rinse, repeat. The exception to this rule is if an outdated car would affect your job prospects or ability to get clients.

Houses - buy a house with "good bones" in a neighborhood where YOU want to live. Don't scrimp on this by living further away from work or other amenities. You'll regret it terribly while sitting in traffic. However, don't overpay for a house. If someone is asking significantly more than it's worth, let some other sucker buy it.

Books - use the library. 'Nuff said.

 

[BTravlin]

Cars - buy new or slightly used. Drive it until the repair costs become a significant percentage of the value of the car (e.g., a repair cost that would be 33% of the value of the car). Rinse, repeat. The exception to this rule is if an outdated car would affect your job prospects or ability to get clients.

Good point on the cars. The last three I've bought were one owner cars only 1 or 2 years old and with less than 15k miles on them. Bought them from the original owners and not car dealers. Amazing how many great deals are out there if you're willing to take the time to shop the used car market.

 

[ziggy29]

Good point on the cars. The last three I've bought were one owner cars only 1 or 2 years old and with less than 15k miles on them. Bought them from the original owners and not car dealers. Amazing how many great deals are out there if you're willing to take the time to shop the used car market.

Maybe -- if one is willing to do a lot of legwork and be very patient.

But for the most part, the "buy 1-2 year old cars and save BIG" strategy became a victim of its own success and isn't nearly as true as it used to be. Before there was a high demand for these 1-2 year old cars, the depreciation curve looked more like the graph of y = 1/x -- a rapid, steep decline early in the lifespan of the vehicle, and buying at the "elbow" of the curve where it starts to flatten out was a good strategy.

These days -- particularly for Hondas and Toyotas but to some degree for all cars -- the curve is flatter and closer to linear; the days of losing 30% of value the moment you drive it off the lot are mostly gone. Sure, some great "almost new" deals are still out there, but this one really worked better 10+ years ago than it does today (at least as reflected in typical market prices). And *sometimes*, particularly during aggressive sales campaigns by the automakers, buying new is arguably a better deal given the full warranty, discounted price and not wondering what the previous owner did to the vehicle. A $3000 cash back offer on a $25,000 new vehicle may be a better deal than the same vehicle for $19,000 and 20,000 miles on it.

 

[Texas Proud]

Maybe -- if one is willing to do a lot of legwork and be very patient.

But for the most part, the "buy 1-2 year old cars and save BIG" strategy became a victim of its own success and isn't nearly as true as it used to be. Before there was a high demand for these 1-2 year old cars, the depreciation curve looked more like the graph of y = 1/x -- a rapid, steep decline early in the lifespan of the vehicle, and buying at the "elbow" of the curve where it starts to flatten out was a good strategy.

These days -- particularly for Hondas and Toyotas but to some degree for all cars -- the curve is flatter and closer to linear; the days of losing 30% of value the moment you drive it off the lot are mostly gone. Sure, some great "almost new" deals are still out there, but this one really worked better 10+ years ago than it does today (at least as reflected in typical market prices). And *sometimes*, particularly during aggressive sales campaigns by the automakers, buying new is arguably a better deal given the full warranty, discounted price and not wondering what the previous owner did to the vehicle. A $3000 cash back offer on a $25,000 new vehicle may be a better deal than the same vehicle for $19,000 and 20,000 miles on it.

Funny you mention this... my sister just bought a new car and her take was that it is even a bit worse than linear... think of the line going down, but with a curve bump there...

She used to buy 5 to 7 yo cars and pay cash... her take is that now people are expecting cars to go 150K or so and if they have 75K miles, they want more than 50% of the original value...

I have bought new most of the times because you never know what has happened to the car... it could have been in a flood even if it was a few days old... I just think the new and the warranty is worth the extra money... considering I keep them 10 to 15 years...

 

[ls99]

Good point on the cars. The last three I've bought were one owner cars only 1 or 2 years old and with less than 15k miles on them. Bought them from the original owners and not car dealers. Amazing how many great deals are out there if you're willing to take the time to shop the used car market.

+1.

I really like paying 3 to 5K for cars that sold for 40 to 60K originally.

 

[Katsmeow]

I experienced much the same buying a Prius 3 years ago. There was little to know "discount" in buying a newer used vehicle with low mileage.

On other items --

Paying for quality items just depends. In general, I've never really gotten into higher quality furniture. I did make an exception once about 20 years and bought an extremely expensive sofa and chair with purple suede leather. The leather has long since faded and is worn and looks awful but the sofa and chair are both still in great shape very comfortable. I'm constantly conflicted by it. I don't like how it looks but they are in great shape and comfortable but for appearance. I could recover them but the costs basically equals what it would cost me to buy a new sofa and couch (albeit not of the same quality). I feel guilty just throwing them out. So I feel stuck with them.

For me, what I pay for is very feature dependent and whether I use that feature. I recently bought a new toaster and elected to buy cheap. I am constantly annoyed as it doesn't have the features that I've gotten used to having. Of course, it is important not to pay for features that aren't important to you.

We did spend for a high quality Miele vacuum cleaner that is HEPA filtered (I have a lot of allergies). It was one of the higher quality ones but I didn't pay for the highest priced one as it had features that were of no importance to us.

I do tend to use my computers in a way that puts a lot of demands on them so I tend to spend more there, particularly to get dedicated video memory. Again, this is not something that matters for everyone depending on their use.

 

[beowulf]

I'm firmly in the camp that spends more for higher quality when it matters - personal comfort or things that will be needed to last for a long time. Our bedroom furniture was a stretch for us 35 years ago, but we still have it and it will pretty much last forever. Style is way outdated, but we will only get rid of it when we downsize (it's also a pretty huge and heavy set). Beds are extremely important - we pay more for what makes our backs feel good. Never kept one for more than 15 years - they all get saggy by that point. I always buy clothes on sale at outlets - meaning, I'm jusy as happy in jeans and a field jacket as someone else would be in a Brooks Brothers suit - DW says I'm still stuck in '60s college clothes. But I did get rid of my Nehru jacket and leisure suits .

Computers are replaced every 7 to 8 years as they become so out of date they won't run the latest software, but we go with medium priced models. Printers and other peripherals are bought on sale at the low end - they don't last a long time anyway. We had several nice analog CRT TVs in the 12 to 20 year range, but have replaced just about all of them with Costco HDTVs. It's really hard to mount a Sony 37" flat screen CRT weighing 200 lbs on the wall . I'm just glad we found someone on Freecycle to take it rather than pay to have it hauled away.

Still have and use our Sansui AM/FM receiver/amp we bought 38 years ago. Solidly built and will only get rid of when they stop broadcasting on AM/FM . Even the best speakers will dry rot after many years, so we don't get top of the line.

I know others may not agree, but I don't think buying known poor quality is ever worthwhile.

 

[Orchidflower]

I don't care what it is for the home, I buy the highest quality I can find for the lowest price. I comparison shop like crazy and use amazon.com, overstock.com, homedecorators.com, etsy.com for art and even ebay.com, plus, check the newspaper for sales in my local area.

If you are talking about LBYM, it doesn't pay to purchase poor quality--even at dirt cheap prices--cause they don't last and you will have to replace them. Buy high quality and watch for sales and comparison shop seems more intelligent to me.

And, yeah, it takes some work but you save in the long run buying high quality for low prices.

 

[harley]

If you are talking about LBYM, it doesn't pay to purchase poor quality--even at dirt cheap prices--cause they don't last and you will have to replace them.

Not always. A bottle of Jack can cover for a couple of bottles of Old Granddad. The first couple of shots are quality, then switch to the cheap stuff after the tasete buds have passed out.

 

[Rustic23]

Buy what your want!!!

I have bought cheap, and I have bought quality. Nine times out of ten when I buy cheap I end up buying what I really wanted in the long run. If cheap makes you happy buy cheap. If it doesn't don't do it.

If you have your savings accounts set up and you are making your goals, the enjoy life. As has been said before here, FIRE may be a goal, but you should not make yourself miserable getting there.

Also define the difference between hobby and household. For me, electronics is a hobby. I spend more than most on it. But, hey, it is what makes me happy.

 

[BTravlin]

Maybe -- if one is willing to do a lot of legwork and be very patient.

But for the most part, the "buy 1-2 year old cars and save BIG" strategy became a victim of its own success and isn't nearly as true as it used to be. Before there was a high demand for these 1-2 year old cars, the depreciation curve looked more like the graph of y = 1/x -- a rapid, steep decline early in the lifespan of the vehicle, and buying at the "elbow" of the curve where it starts to flatten out was a good strategy.

These days -- particularly for Hondas and Toyotas but to some degree for all cars -- the curve is flatter and closer to linear; the days of losing 30% of value the moment you drive it off the lot are mostly gone. Sure, some great "almost new" deals are still out there, but this one really worked better 10+ years ago than it does today (at least as reflected in typical market prices). And *sometimes*, particularly during aggressive sales campaigns by the automakers, buying new is arguably a better deal given the full warranty, discounted price and not wondering what the previous owner did to the vehicle. A $3000 cash back offer on a $25,000 new vehicle may be a better deal than the same vehicle for $19,000 and 20,000 miles on it.

It has certainly gotten much tougher in the last couple of years as far as used cars holding their resale value but on the other hand there's been a big increase in the number of people in trouble who need to sell in a hurry. I've had phenomenal success buying in southwestern Ohio mainly from 30 something couples who overextended themselves.