In life you learn that you pretty much get what you pay for. If you decide to go the more cost-effective route there will be negative consequences, like life span or accuracy of the product. This is generally a good rule of thumb, but like most rules there are those exceptions.

When it comes to investments, people usually do their research; cost being a major decision-making factor. Most want the best option available at a fair cost to them, quickly eliminating the options that have a price point out of their reach and far below the average market price – because nobody wants to consider neither the option they cannot have nor the “cheap junk” which, in their mind will probably make for nothing other than a paperweight in a month. The thought process of eliminating the highest and lowest cost options is usually a safe bet when doing quick research and only factoring price for a short-term investment like a TV or headphones, but it isn’t the best tactic when considering a long-term investment.

Cost should be just one of the many factors analyzed when considering a long-term investment. Take the time to learn about the company – they might have an extremely low overhead which is reflected in their below market price. Assess all the features of the individual options – sometimes the cheaper option will give you even more usable features than the most expensive. What does their post-sale support record look like; are they a company that cares to know how they are benefiting you or inquire about how they can improve to better serve you? Who handles their post-sale support; is it in-house support or outsourced to the cheapest bidder with a pre-written script to follow when you contact them, and what do those support queries cost you? What options lock you into a contract requiring a monthly payment for services, and what could those payments amount to over time? What does the potential ROI look like? What do other first-hand consumers have to say about the options?

Before you automatically disregard an option based solely on the price tag, take the time to fully understand the who, what, where, when and how of that option. The one that you would strike-through first might actually be your best option of them all.

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