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Your budget may (nearly always will) determine the quality of website that you can buy. It is very important to budget yourself as it is quite easy to spend twice your budget to land the site you want. I suppose it could be compared to buying property. Those who buy and sell property rarely go over their budget and these are the people who are making the money!
Spending more than your Budget
Spending more than your budget can directly and indeirectly affect the following :
- Promotion of Site : Your budget may have included a certain of amount of money for promoting your new site.
- Budget for other sites : A lot of the time when you spend more than your budget you are spending money that was earmarked for other projects.
- You cant afford it! : It sounds silly but a lot of people sped money they just dont have in order to get the site they want. This can have an adverse affect on future projects and may even force the buyer to sell some site/project he has for less than its worth.
Only in rare occasions would be reccomend spending more than your budget. And on these occasions you would need to know a lot about your market which is something we will discuss soon.
Spending less than your Budget
Spending less than your budget is usually a good thing but not always.
- It can free up money for other projects : Spending less could free up some money for promotion of the site or for other projects.
- Make sure you are buying a quality site : Remember, cheap isn't always neccessarily cheerful. Make sure that the site is of the high quality you were originally looking for.
The second point is probably the most important thing to consider. Don't get excited about the price being cheaper if it isnt good enough for you or less than what you originally planned for.
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