Design and Finance Lessons from the Hamptons

Hamptons PoolThe Hamptons have long been one of the most extravagant markets for outdoor furniture pieces all over the world. Today they give us some significant lessons on both what to do and what not to do when you are buying high-end pieces. So in many ways this article is going to be doubly useful. Think of it as a proper guide to the finer things in life in a way. After all it is easy to let your purchases get out of hand when dealing with things like this.

Of course everything is not all bad. Having these pieces can really make your way of living and home stand out as well as giving you a sense of satisfaction. There is a reason that people buy so much of it over time and put a lot of effort into keeping everything together.

Excessive buying of outdoor furniture was unfortunately the bane of many people in this era. When the housing market busted many families lost nearly everything. Their massive and expensive purchases of pools, equipment and even statues for their patios was a drain on them. They also could not afford to sell it back when it came down to it. What does this teach you? Decorations are not an investment that you should expect to get your money back on. Some people do but most do not. Think of them as what they are and not anything more.

The value of their houses was also not raised up enough for their outdoor furniture to have made a difference. They had to sell houses for a fraction of the cost if they could sell them at all because the market had gotten so very terrible. Do not count on these raising the entire value.

When buying a “collector’s item” make sure you have some way to protect it and raise the value on it. What many of these people did was buy a piece then not have their “help” care for it properly. Such pieces then wasted away in storage while they were looking for the economy to turn around. This happened quite a lot and the pieces steadily lost value without proper care.

That being said extravagance in outdoor furniture certainly does have a place. If you can buy a valuable item within reason and care for it properly then go for it. It actually can become a long-term investment that helps you out later on. This is not usually the case though so keep that in mind when setting everything up.

The final piece of advice is to not get carried away and go crazy with your spending. Even if someone in your family makes a good living that does not mean things will last forever. Frugality is the virtue of the day. People want to spend less and save more in order to look more virtuous. You may not always be able to do this on your own so take some feedback from your family and friends.

 

 

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