This is easier if the device retains its resale value. Keeping up with the latest iphone is cheaper than the latest Android flagship because of this.

Changing a phone means days of annoyance as you find one more thing that didn't transfer. Or one more thing that doesn't work the same as the old phone, but not in a good way. Or one more thing that you have to dive deep into settings to express that you do actually want your communication apps to run in the background so you can communicate. Or one more pocket the new phone doesn't fit into. More annoyance if you had to change phones because the old one can no longer accept input.

I remember a time when a new phone meant exciting new capabilities, and my current phone does have a new radio vs the old phone which is nicer than I thought it would be ... but at the end of the day, it's pretty much the same but different. Even though there are approximately 10,000 android phones released per year (hyperbole, I think), only a handful have my must haves (appropriate bands, headphone jack, reasonable cpu) so I don't actually get to shop on my want to haves; there's not so much joy there.

the biggest threat to long term usage of a phone to me are physical damage or loss. buying a cheaper phone reduces that risk. if a phone lasts more than two years i count my blessings.