Upgrading: the parts or the bike?

I'd like some comments on a dilemma I'm having at the moment about the economics of bikes, I guess.

I currently ride a Giant Avail 3. The 8spd cassette and the Sora shifters leave something to be desired. Otherwise, I like that bike. I've looked at upgrading it to full 105. That would run about $1000, by my estimation and poking around. I could get a 105-equipped bike for not a whole lot more than that. The Avail 1 (same frame) costs about $1300, plus the cost of pedals. From a purely financial standpoint, it's better to see if I can get $500-600 for my current bike, then put that cash toward a better-equipped bike.

Here's where it gets murky. For graduate school, depending on where I go, I'd like to get a hybrid for use as a commute/errand bike. I'd use the Avail, but she'd likely scream "STEAL ME!", being a road bike, and as a grad student, I'd have nowhere secure to put it. That merits another bike, which might run me up to about $500 (that's the most I'm willing to pay for a bike that I'm going to lock outside). The other thing is that I'd like something with room for a rack/panniers, and I don't want to have to keep taking things off and putting them back on, so this plan requires having a "fun" bike and a "work" bike. Selling the Avail would mean that I need to eat the cost of two bikes. I also have no idea what I'd upgrade to. I'm bouncing between the carbon Synapse, the CAAD 9 Feminine 5, and the Avail 1. I think buying the Avail 1 would be silly, because it's the same frame with some better parts on it--I may as well upgrade the key parts and leave the rest. That leaves two very different bikes. I'd test them out, obviously, if I were to purchase a new bike.
Finally, there's a bit of emotional attachment to my current bike. I know you all would get this a little more than my BF would (it's a machine to him). The teal is unusual and pretty without being girly. It's my first road bike...I think you all know what I mean. I'd like to keep it, but the practical side of me gets in the way.
Thoughts? Suggestions? What did those of you who have upgraded (parts or bike) do, and why?

The smart thing, financially, to do is buy a complete new bike (especially going from a Sora 8 speed to a 105 or better setup where you can't really even think about upgrading one part at a time).

I think you've figured that out.

So the question becomes what to do about the Avail and what to do about a commuter.

The two solutions I can see:
1) Keep the Avail because you like it and are attached to it. Invest in some good locks and a rack and use it for commuting. I have done just this with an OCR3 (which is, essentially an Avail) and have had no problems, even in reasonably high crime areas (commuted for 1.5 yrs in San Jose/San Fran Cali and going on 2yrs commuting to CU Boulder in CO).

2) Sell it and buy a junker for a commuter. And I do mean a junker. Get on craigslist or go to a bikeswap and get something for LESS THAN $150 to commute on. There's really no theft deterrent benefit of selling a $600-700 bike and replacing it with a $500 bike.

I'd go with option 1 (I have, I'm biased). Here's why. 1) you're attached 2) you won't get as much for the Avail as you'll think you should (due to exactly the reasons you're contemplating buying a whole new bike now. They get outgrown fast and are limited (8 speed drivetrain) so it won't compete with a 105 or Ultegra 10 speed bike that's maybe a year or two older at the same price)

how about buying my Giant OCR-C3 full dura-ace for $1,100... :D It's in very good to excellent condition. It's a 2006 model. I am buying a racing bike soon and will be selling this.

It's a small frame... 53.1cm top tube.

Let me know if you're interested... it's a great buy... I hate to part with it, but need the $$$ for the new one...

I have to agree - the cost of the upgrade part by part will be more money than the value of the bike. Sell the bike (or keep it for a spare - a guest bike if you will), and buy the one you really want. I would suggest to anyone contemplating buying a new bike that they expect to ride more than a couple times a year to look for full 105 components at a minimum. Anything less and you'll be wanting to upgrade in a very short time.

I have mixed feelings because it is very difficult to find a frame that fits you well. If you have your bike set up exactly how you want it (seat post height, saddle height, stem length and rise, handlebar drop, etc) and you know your frame fits you well, then you might save yourself the grief of purchasing a brand new bike. How well does the frame fit you? If it doesn't fit you as well as you would like, perhaps this would be a nice opportunity to find something you like better. Although I agree that you should not have to ride a bike that you don't enjoy, a new frame may not necessarily result in an improvement.

If you're not in a rush, maybe you could keep your eye out for a great sale on a groupset to put on your current frame.

Do what you think is best and take the time to explore your options thoroughly :)

I made my decision on the bike last night. I'm not going to sell her because I'm not going to get much for her (she's got a big ol' scratch on her from when I crashed too), and because I'm attached. I'll see if I can stick a rack and some more lights on it and use it as a commuter. (Owlie watches her BF shudder at the thought of putting such things on a road bike :rolleyes::D) I'm going to save up for a full 105 or perhaps even Ultegra bike as my "fun" bike, and slowly upgrade the Avail (low on my priority list) as parts wear out.

Edit: Ana, I'm in no real rush, though I think I'd want the new bike before I head off to grad school. I've got a full year to look around and save up. I'll keep an eye out for sales, of course, but odds are good that I'll end up with a new bike. I need to have the Avail adjusted anyway, as I think my riding style has changed since I bought it (it was adjusted to fit then), and we'll see how good the fit is. If the Cannondales I'm looking at don't fit well, there's a chance I'm going to invest in one of the other Avails (the 1 or the Avail Advanced 2).

You might still keep an eye out for a cheap college bike, if you are afraid of that one getting stolen. I had a $15 yard sale bike I used for getting around campus. It was so ugly I didn't have to lock it up! It was always where I left it. :-)

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Originally Posted by withm

I have to agree - the cost of the upgrade part by part will be more money than the value of the bike. Sell the bike (or keep it for a spare - a guest bike if you will), and buy the one you really want. I would suggest to anyone contemplating buying a new bike that they expect to ride more than a couple times a year to look for full 105 components at a minimum. Anything less and you'll be wanting to upgrade in a very short time.

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Withm, now that I think about it, that's what I really should have done. When I bought the bike, I wasn't sure if I was going to ride a whole lot or even enjoy it, so I didn't want to buy anything too expensive (the Avail 1 was about double the cost of the 3), and the 105-equipped bikes seemed like "too much bike" at the time. Now that I want to go further and (just a bit) faster...I don't feel like the bike is holding me back, exactly. It's just not doing anything to get me to where I want to be.
I borrowed a 105-equipped OCR3 when I was visiting my boyfriend's family. And honestly, if I hadn't ridden that bike, I wouldn't even be considering it. I knew that I didn't have a gear I was comfortable in on the 8spd cassette, but I thought it was just me. Same thing with the shifters--not great, but what do I know? And then BF borrowed that bike for me. I think a certain someone owes at least the cost of a new cassette...:D