Piano World Home Page Forums Our Most Popular Forums Piano Forum Affording a grand piano?

Scotgreen, you are 25. I could not afford a lot when I was 25, I was just starting out. Just from my readings, I would guess most of piano forum participants are older, well established professionals and could easily afford a luxury as a grand. They had time to wealth build. I do not know your profession. I have been a nurse for over 25 years and during that time I have worked 2 and 3 jobs even when I was in school. You may want to consider working overtime or taking on a second job for "mad money" then pay cash. Remember your number one wealth building tool is your income. Banks are mega banks because they use your money (interest).

Because you can afford it does not mean you should necessarily buy it. Be an informed consumer, is there an alternative to a grand? I am not a professional pianist my views may be different. I am 58 and have been taking lessons the last 5 years as a hobby after completing a PhD. Maybe there is no alternative to a grand for some pianist. The reason I ask, is there a less expensive choice? Baby grand, high end upright? I have a Yamaha YUS 5 that I bought new and paid for it when I purchased it. I researched uprights for 6 months. Take your time and make a decision, know what you are buying. My tuner that refurbishes pianos said that piano has better action than some of the baby grands he has worked on.

While you work on saving for your dream piano, until then buy something reasonable and pay cash. As others have mentioned there are good deals, you may have to look and wait for one.

Best wishes with your search.

Funny, but I had written almost exactly this, including the comparison with cars, a few days ago and deleted it before posting because I thought it sounded too aggressive, like accusing people of choosing cars over pianos. So I thought, better not say it. But you said it!

Since you were the one that said it, I can say I completely agree with you Everyone makes choices and sets priorities. Often when someone starts a sentence with "I wish I could afford XYZ," what they really mean is, I've prioritized ABC and DEF higher than XYZ, and after I get ABC and DEF, I won't have enough money left for XYZ. This is 100% fine, but just realize it is this.

If owning an acoustical piano suddenly became the most important thing in life - many more people would own acoustical pianos.... like they did in America in the 50's and 60's!

I once sold some jewelry to buy wooden German made recorder.
That recorder has given me so much pleasure.Much better sound than the plastic ones.
Retsacnal gives good advice.The grand will come in good time.In the
meantime make do with a digital or a used upright piano.

Debt is not intrinsically bad. It should be understood, and used wisely.

I always advise against going into debt to buy a piano in part because consumer rates tend to be the highest, and financed pianos tend to be purchased at "full retail," so you could wind up paying relatively high rates of interest for something that's usually not worth what's owed on it. Cars tend to fit this dynamic as well, but a reliable car is arguably a necessity for daily living.

In general, spend as little as necessary, and if you need to borrow then borrow as little as possible and seek out the best interest rates possible. Debt can be helpful, but too much debt will ruin your life.

You don't have to start out with a grand, There is many fine verticals out there. For a lot less money.

Some people do need cars, but I will rather take the bus to my piano lessons than use my piano money to buy a car

Saving up for a grand takes a long time - and so does learning the great repertoire - one need set long term music and financial goals ..... this is a long haul game

Tyrone, I was also going to mention a car, the deleted it. My friends tease me and say my piano is worth more than my car. My car has 225,000 and is 11 years old. I don't value cars, that is why I have not bought a new one. I play the piano more than I drive. I listen to Clark Howard, radio financial talk (U.S). He discussed some keep cars 15 years plus and noted those that held on to cars 10 years and longer retire 5 years earlier than those that trade every 3 to 4 years.

https://www.caranddriver.com/news/a22815727/america-household-vehicle-age/

I don't even drive. I live in a city, and never felt the need of a car. Assuming my taste in cars would probably mirror my taste in pianos, it's probably just as well, as I can't really afford an Aston Martin.

If someone gave me a couple of hundred K, I know the sensible thing would be to save it, but it would probably end up going to my piano dealer.

Being able to afford a monthly payment and being able to afford to buy something are two different things, in my mind. If one can potentially lose their job and still afford a payment, then go for it. If one can't pay the piano off in the case of losing one's job, then it is too risky, IMHO. I just bought a digital piano one week ago from a fellow who lost his job. A great deal for me, a bummer for him. He was lucky that I was in the market and could bail him out. And that was on a $1500 finance plan. A grand piano would likely be much harder to unload in a financial pinch.

Sound advice that is relevant to any purchase!!

The way credit is used in the USA is a joy to behold, when everything goes as planned...……..

but sadly often does NOT go as planned...

My philosophy: Anything can happen in life, so better enjoy it as long as I can. If I need a piano to do that, then I'll do whatever it takes to get one

Don't worry too much about looks, or age. Once you find what you need, make sure she is wealthy, marry her, problem solved.

I must say that I feel the same especially after I had to wait for about 6 weeks for a CT scan a while ago to see if I had pancreatic cancer ,the results were negative but it made me question weither I needed to take myself,and the world around me so seriously..
Not that one should be careless but if a piano is what gives happiness one should aim for it ! Because it is IMPORTANT to you !

Now that is not what I meant !

Worked and saved.
I am considerably more than twice your age.

Lady Bird, as a nurse for over 25 years I agree with you. Have fun, invest in yourself. I attend a wellness class every Saturday morning (not exercise) and discuss mind set, health, investing in yourself etc..... I used to run, due to a knee injury now I walk every day 3-5 miles. Purchase what is important to you responsibly. My point is, make those purchases within your budget. I know too many people that are over extended can cannot afford to take care of the repairs they have, thus are stressed due to fiances and poor choices. Maybe a grand later, and a nice upright today.

I am happy to hear everything was ok, I know that is stressful. A nurse I knew had to retire at 62 due to health issues, fortunately he made good financial decisions during his life, saved for retirements, and retiring at 62 was not an issue for him. However, he did not expect to have to retire at 62.

Always like reading your posts.

You also need to consider your ability to pay for having the piano tuned on a regular basis and for any repair work (e.g. regulation) that the grand will need.


Waiting a few years (and meanwhile saving for the purchase) sounds wise.

So you (your parents) must have a piano at the present time? What will be its fate when you move out?

Thank you DSFRN ! Yes I am thankfull to be reasonable healthy.It was due to a scan done after after an accident that something purely benign was seen.But I had to wait all those weeks to find out if I was
OK. I am thankful!
So yes "enjoy all ye wonderful pianos while ye may"