Intro
Is homesense expensive?
This is a common question asked by people who are not sure if they should buy homesense.
They’re not sure if they’ll be able to afford it. They think that homesense is too expensive.
So, let me explain why it is also one of the most important questions we have answered over the years!
So, homesense isn’t expensive because it doesn’t actually exist. It’s not expensive because you can buy it second hand for as cheap as $1 (and even then its quality is questionable!). Homesense isn’t expensive because you can get the same quality at a fraction of the price!
Homesense isn’t expensive because there are no other companies offering homesense products anywhere in the world! There were two or three others before we launched our service and none of them even came close to our price.
Homesense
This is probably the most common question I get: “Is homesense expensive?” and my answer is always the same: it depends.
The wonderful thing about this question is that the answer, at least in part, is already known. It’s not a difficult question to answer, but it can be very useful to have some basic information to start with.
To me, it’s a great question because we can give you a rough idea of what you think of as “expensive” or “cheap” and then use that to guide your decision-making process. You can then learn from our experience compared to others on the market and you can make the differentiating decisions based on our results. Or you can just go buy something else!
If you want more detail, here are some links:
• https://www.homesense.com/blog/why-does-it-take-so-long/ (page 2)
• https://www.homesense.com/blog/how-much-does-homesense-$429-$269-$199 (page 3)
• https://www.homesense.com/blog/first-phase (page 4)
What do I mean by expensive and cheap? These are two concepts like prices of cars or houses; they refer to what you are willing to pay for something as opposed to what other people are willing to pay for it. The price of cars (a car) might be lower than what someone else is willing to pay for it but higher than your own willingness to pay for it, so if someone else offers a better price he will take your offer even though his product is not necessarily better than yours. Likewise if there is no other suitable product available then your product will likely be given preference over someone else’s product by others in that market — even though their price may also be favorable relative to yours because they have priced their product better than yours has priced its products, etc.. So if all other things being equal then home automation solutions will cost less than all other home automation solutions — except one, which might have an extremely strong brand name and some other advantages like ease of use or customization or integrated security features or whatever — then they will perform better than all other home automation solutions in terms of actual value delivered over time compared with any alternatives available in the market place — except one which may
The Cost of Homesense
Owning your own home is an important thing to do. It’s not just a financial investment, it’s a way of living. It can be a huge part of your identity, and it’s a big deal.
But there are different ways to buy a home: you can go to real estate or you can buy online. And the costs for each will vary greatly depending on what exactly you buy.
The most obvious difference is in the cost per square foot. Online homes are much cheaper than property purchased from realtors — but remember, they are often sold far below asking price (and sometimes they have been bought by potential sellers). They also tend to be more compact and convenient than the kind of place you would buy if you had to commute an hour each way every day to work.
Even if you don’t live in San Francisco or New York, online homes can be quite attractive because there are so many different styles that fit nicely into people’s budgets and their preferences (from large apartment buildings with lots of windows and balconies over small single-family houses in rural areas).
There are other factors that influence the price too, like how long it takes for people to get a mortgage or how much money they need for closing costs (or how long it takes for escrow payments).
At one end of the scale is a $1 million home: built on 500 acres with stunning views and 2000 feet of frontage on Lake Como (by far the most expensive home we sell in North America). At the other end is a very modest one-bedroom apartment: actually just an extra room in someone’s house that has been turned into apartments; these are incredibly common these days.
The key point is this: when looking at prices, it’s important not just to focus on square footage but also on location (if you want your space to be accessible within 30 minutes of work), amenities (if there are any), design details (if there are any), quality materials used (if they have been selected with care), etc., etc., etc., etc., etc..
How Much Do You Spend on a Home
The most common form of inter-brand comparison is by price, and there is a lot of dog food in that dog food bowl. Price is a great way to get people’s attention and can be used as the basis for a lot of long-term marketing. However, its ultimate effectiveness depends on the context in which it’s being used: if you are comparing apples to apples, then you are comparing apples to apples.
The value of a product will vary depending on how much time it takes to use, what you need it for and how much money you have to spend on it (and thus how much you can get out of it). This can be very different from price — so comparing apples vs. pears or puddings is not the same as comparing oranges vs. watermelons.
For those that think homesense isn’t expensive (and thus irrelevant), I think they should also be reminded that perception is very powerful — and that price doesn’t always equal reality.
Conclusion
People, especially millennials, seem to have a higher propensity to over-spend in their purchase decisions, according to a recent study from the University of Chicago.
Measuring “incredulity” — the degree to which people are willing to spend more money when presented with evidence that it’s more economical — the researchers found that people are willing to spend more than $1,000 for an average-priced item like a $100 iPhone. The study also asked participants how much they would pay for an item that cost $300. This is why so many marketers love their price tags! People will most likely be willing to spend more than they think they need to purchase something, and this is one of the reasons why we can get away with spending less on advertising than we think we should (which is another reason why brands tend not to be very price sensitive).
This overspending behavior was also present among millennials (those born between 1981 and 2001). Apparently, they are just as willing as others to pay inflated prices for perceived value.
One way of being able to capture the value that people expect from your product is by providing them with compelling incentives. Incentives can range from free shipping and free returns when you make a large purchase through your online store, or discounts on products bought together in bulk. People will most likely be willing to spend more than they think they need…The point here isn’t that everyone necessarily does this; it’s just another indicator about whether people believe in a product or not.