Do you need it?
Avoid making an impulse purchase you will regret by honestly asking yourself if you really need whatever you are considering. Ask yourself if it is a necessity or a luxury purchase. Before making a final decision that you need it, determine why and when. If it is a luxury purchase, think about what impact, if any, it will have on your budget. Big purchases are not the type of purchases that can be rushed—you need to carefully think about what you are buying, the pros and cons, and compare the differences in brands. If possible you should think about these types of purchases for a significant period of time, to ensure that you aren't rushing into anything.
Can you afford it?
Whether your purchase is a necessity or a luxury, take a close look at your budget to make sure you can afford it. When possible, pay with cash, but do not dip into your emergency fund to do so. Do not use a credit card or make payments unless doing so is absolutely necessary. Before taking on a payment of any size, though, be sure that your budget has room for the extra payment. You may need to wait to make the purchase until you have a larger income or a more flexible budget. Do not assume that you can “find the money” to pay for it after committing to a payment plan. It is best to have the money before hand so you don't run into any problems down the road.
Have you done your research?
Research is an essential step in making a final decision regarding a large purchase. Read product reviews from both professional reviewers and consumers, and compare features among numerous models. When looking to purchase a home or apartment, do your homework regarding the neighborhood and schools as well as things like average utility costs and property taxes. When buying a car, ask a professional about any questions or concerns you have and test driving is sure to help you avoid buyers remorse. Auto experts who often show the Kia Soul in Utah to potential customers have found that people who don't spend at least an hour looking at the car will definitely have buyers remorse afterwards. These dealers of Kia Salt Lake City always suggest that their clients “investigate” and test drive the car more than once, and often on multiple days.
Is the timing right?
The right timing is important when it comes to getting the best possible deal. If you do not need the item right away, you could save yourself hundreds, or even thousands, of dollars by waiting for a good sale or shopping at the right time of year. If you are making a major electronics purchase, for example, shopping between Thanksgiving and Christmas is the best time to get a good deal. Appliances are often on sale during the summer holidays - Memorial Day, Independence Day and Labor Day. If it is possible to wait until one of these sales comes on to replace an old appliance, device, etc, it could be worth the wait.
Keeping a few simple things in mind before buying any big ticket item allows you to make a good decision that you will not regret. In addition to ensuring the best deal, careful considering prevents you from buying the wrong thing or something that will not be put to use.