In my opinion, the difference between a $500 and a $700 electric guitar isn't that much. I would choose to buy the $500 in this case. Of course, the feel of the electric guitar and such also comes into place when choosing an electric guitar. What i feel that you should do is to spend less money on a guitar. Maybe, you could feel the difference? But I can't really feel the difference. Mostly, the 2 things that i would say when buying a guitar is, its good or its not for me. That's all. Instead, spend your money on other equipments for guitar such as a better amplifier?