Yes, it is really important to consider price while buying a new gadget since it should fall in your budget. A great thumb of rule is to buy things that cost below 10% of your net worth. Anyways, once the budget is set, people should compare the specifications of the phones available in that budget and finally go for the one that best meets their needs. Like some people would prefer a phone with the newest possible processor in that budget but some would look for a great camera. It differs from person to person but the end goal should be to buy a phone that satisfies your expectations from it and its under your budget at the same time. :)