Many people see luxury and designer items as unreasonable splurges. While they certainly make a dent in your savings, not every hefty item is pointless. You can buy as many luxury items as much as you do your regular tees and tops, as long as you know which kind of designer product suits you. All luxury items can be beneficial to you in time, especially when you care for them well.
Certain luxury goods are more than just expensive additions to your closet. Some even increase in value over time so that they can be considered as an investment for the future, too. Moreover, designer itemscan last you a lifetime without ever going out of style. If you think trends that come and go also apply to luxury brands, look again, because some of the best designer finds are the vintage ones!
Here the luxury items that you should invest in when you’re ready.
1. Designer Watches
Successful people listed a designer watch as one of the luxury items everyone should buy at least once.Luxury watchesmake a great accessory for various occasions-formal, business casual, sports, and every day. They’re made of the finest quality of stainless steel, leather, and other materials, plus a cutting-edge technology, so they’re truly incomparable to non-designer brands.
2. Designer Handbags
A lot of successful women invest in a preloved designer bags. Evidence would be the trend of sharing bag collection videos on Youtube and other social media sites. Unlike ordinary bags, designer handbags are much more structured, and their craftsmanship is undeniably outstanding. And needless to say, they’re made of superior quality materials.
Another interesting fact about designer bags and a compelling reason to buy one is their value. An Hermes Birkin bag, specifically, can have aresale price higher than its original price. This happens because of the limited supply of Birkins, so if you purchase one and put it up for sale eventually, you can expect higher returns if the demand for your bag is high.
But if an Hermes is way out of your budget range, you can opt for Chanel or Louis Vuitton handbags, instead. They also retain or increase their values over time so that the investment will be worth it, too.
3. Designer Luggage Set
Don’t you want to always travel in style? If you’re a successful business person that’s also a globetrotter, you could definitely use a luxury luggage set. They’re far more stylish, durable, and long-lasting than the affordable types, and their performance matches their quality.
More than being the focal piece of engagement rings, diamonds also retain their value over time. But if you’re investing in one to resell it in the future, always opt for the natural diamond. Lab-grown diamonds, though also considered as real diamonds, do not retain their value because of their growing supply. Meanwhile, natural diamonds, like other designer items, have a limited supply; hence their value either increases over time or remains consistent.
5. Real Property
Who says luxury items are only those you can wear? Well, real property in a prime location also counts as a luxury item. In London, for example, property prices have been doubling over the last decade. So if you own a property there, imagine how much its value has increased now-you’ll be enjoying the high returns at present. If you already have the budget, consider searching for properties for sale in the prime locations of your country or city. Real property is a more practical choice of a long-term investment product if you happen to feel uncomfortable about designer items.
Before splurging on any luxury item, always make sure it’s something you can truly afford. Even if you have the option to pay for them in installments, incurring such a high debt can pose undesirable risks. Instead, consider these luxury items as a reward for yourself for being financially stable and successful.