7 Expensive Hobbies That Will Plummet in Price in 2024
Some hobbies, like skiing and drone racing, come with a high starting cost. Many of these hobbies also have ongoing costs that should be considered before committing to them.
But just because they currently have a high barrier of entry doesn’t mean it’ll always be that way. In fact, certain expensive hobbies are actually expected to drop in price this year.
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Drone Photography
If you want to get into drone photography, you’re probably expecting to spend a lot of money. A consumer drone can cost as little as $50 or as much as $10,000 and up. Then, you’ll need to account for the license required to fly the device, as well as goggles and other gear or equipment.
The good news is that drones are starting to become less expensive, overall.
“Initially, the cost barrier for drone photography was high, with quality drones carrying hefty price tags. However, as technology advances and more manufacturers enter the market, prices are likely to decrease, making this hobby more accessible to a broader audience,” said True Tamplin, the founder of Finance Strategists. “As drones become more user-friendly, individuals can capture stunning aerial shots without investing in professional-grade equipment.”
If you’re into drone racing, the same rules apply. Costs might still be high, but they’re likely to go down over time.
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Skiing
Whether you live in a naturally snowy, mountainous place, or you just want to spend your winters skiing, this is another expensive hobby that’s likely to drop in price.
“Shorter winters are hurting ski resorts financially, pushing them to offer better deals. Plus, ski gear brands are making goggles, helmets, jackets and other essentials that look posh but cost less,” said Abby Price, an avid travel and ski enthusiast at Summit Skier.
Skiing might also become more affordable because ski resorts have started partnering with transportation companies to shuttle people from the city to the resort. This cuts down on parking and gas costs.
Playing a Musical Instrument
Musical instruments can be expensive, especially if you’re looking for high-quality or name-brand options. According to Samuel Jackson, co-founder of Guyker®️ Music, instruments can cost hundreds to thousands of dollars.
But prices are very likely to plummet in the future thanks to technological advancements in the way these instruments are made. This is good news for both collectors and aspiring musicians.
It’s not just these changes driving down production costs and making this a more affordable hobby.
“The rise of online marketplaces and secondhand instrument sales platforms provides opportunities to find quality instruments at lower prices,” added Jackson. “I’ve even [seen] people building their own guitars.”
Virtual Reality Gaming
Companies like Nintendo and Sega started developing virtual reality gaming systems as early as the 1980s and 1990s. But it wasn’t until the past decade or so that companies like Oculus came out with quality systems people could use at home.
The newer something is, the more expensive it tends to be. Such is the case with virtual reality gaming.
“Virtual reality (VR) gaming has been on the cusp of mainstream acceptance for several years, hindered in part by the cost of VR headsets and the required high-performance computing hardware,” said Tamplin. “The [price] reduction will be driven by the development of more affordable VR headsets, increased competition among manufacturers and the adaptation of VR technologies to more budget-friendly platforms.”
Other things, like cheaper graphics cards and used VR systems, can also make this a more affordable hobby for newcomers.
Home Brewing
Creating your own home brewing setup can be expensive, but if you want to start brewing your own beer, you can do so at a fairly reasonable price. For example, you can get a starter kit for about $150 from some retailers. Many of these kits are also compact, meaning you don’t necessarily need as much space as you might have before.
Gardening
Gardening is an expensive hobby when you take into consideration all of the upfront costs that go into it. You’ll often need to get planters, seeds, soil, fertilizer, gardening tools, watering cans, gloves and so on — just to get started. And if you’re an avid gardener, you might also want to get tool holders, pads for your knees and smart gardening tools like automated watering systems.
All of this can add up and fast.
But with technology advancing as it does, certain supplies — especially those smart tools — may drop in price.
“Home gardening can involve significant startup costs, especially for those looking to integrate smart technology for optimal plant growth. Now, smart home devices are becoming more commonplace and the technology behind them keeps improving,” said Tamplin. “The cost of smart gardening tools — such as automated watering systems, smart plant sensors and energy-efficient grow lights — is likely to decrease.”
Photography
Thinking about becoming a photographer? You’re in luck as the barrier of entry is already lower than it once was.
You can certainly purchase a high-end professional camera for thousands of dollars. Or you can spend $300 to $500 on a decent-quality device that still takes great photos. And if you have a smartphone or a Google Pixel, you can take great pictures using what you already have.
And you don’t have to spend quite as much money on editing software as before. There are a lot of online platforms and apps that are either free or low-cost that’ll let you edit your pictures as you see fit.
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