We often look at resale value when we are purchasing large items, such as a home or a car. But taking a look at the resale value might help with smaller purchases as well, from electronics to appliances to baby gear. Here is the second post in a series that talks about ways we can tell if a purchase will be worth making.
Not everything we buy will be used for its entire life span. Sometimes knowing that you will get most of your money back when you are done with the item can make the purchase of it easier to bear. For example, we once bought a used dryer to get use through the three months during the time we were selling our home. We wound up selling that dryer for the same amount that we paid, making it worth the purchase. We essentially got the use of the dryer for free.
Sometimes you can even make money on a purchase. We once purchased a used umbrella stroller for $1 and sold it for $3. While that might not see like much, we tripled our money and got the use of the stroller for free.
How can you tell if something will have a good resale value? Simply look at what others are paying for it used. Browse Ebay, Craigslist and local yard sales to get some ideas. Name brand baby clothes and equipment do very well, for example. So do certain types of yard equipment, if they are kept maintained, such as snow blowers. Electronics can be hit or miss. Some video game systems and games go for a pretty good resale value, even older models, but old sell phones have to be given away.
Most of the time, an item’s resale value will depend on the brand of the item. This is especially true for appliances, the baby clothes and gear I mentioned, and upscale clothing (average clothing for adults doesn’t usually have much of a resale value).
So if you are debating on a purchase, consider how much you might be able to sell it for when you are done with the item. This may make the decision on a purchase easier to make.
You can read more blog posts by Mary Ann Romans here!
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