THE "LIFE-AFTER-DEATH (L.A.D)" SERIES 3

VALUE VS. COST!!!



Happy weekend folks, 

I guess you are having a good time out there, It's been a rainy day here but it's all cool and lovely.

September is all about The "Life-After-Death" (L.A.D) series where I offer insights that seek to guide your decision on what items to let go or which one to hold back in your space.

In my last post, I emphasized the need for renewing and recycling items that have exceeded their expected lifespan in your space, with rubber , wood and bottles taking the center stage.

I will be shifting gears today as I place the spotlight on the concept of value versus cost, considering the importance of economics in deciding whether to renew, revamp or discard used items in your space.

Be rest assured that you will be getting some value from today's post just as you do with every Consult Kenny posts.

Let's get going πŸ‘‡πŸΌ

#VALUE


Value is defined as "the regard that something is held to deserve; the importance, worth, or usefulness of something"

The questions about the importance, worth and usefulness of any item must be answered in order to determine the value it holds.

So loking at economics from the standpoint of value is a prerequisite to making the right decision on whether to hold on to an item or let go of it.

In other words, your choice to revamp an old living room sofa for instance should be based on the level of it's usefulness as against the sentiments that makes letting go difficult.

#COST


Often time we erroneously equate cost with value, and that explains why we sometimes brag about how expensive a product is even when it's not adding so much value to a space.

Having a warped estimation of value for an item will definitely impact negatively on your decision to let go even when that is the only viable option.

So a balanced comparison of what it will cost to revamp an item, side-by-side the true current value of that item, is needed to make an economic justification on this subject matter.

#CASE STUDY


So let's get practical as I bring the case of a seat revamp for a client to fur.

It was a case of value vs. cost as the old seat in this video looked out of shape with fears that the frames were severely damaged and the cost of revamping it will not increase the value of the seat.

Thankfully they had me come on board to assess and profer solution, and in less than two weeks the same seat is back to life appearing close to new 

Rather than assume value and/or cost, it's only ideal to seek advise from professionals who will make an economic sense of the situation.

Be rest assured that Consult Kenny is within reach and always willing to be of help on matters relating to your space.

I'm Kenny, an interior designer and project manager.




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