As long as the appliance is from a reputable manufacturer, you aren't really downgrading, you are merely getting a similar appliance with fewer "bells and whistles." Appliances with fewer "bells and whistles" do the job they were built for just fine.
And, since I have always said "keep resale in mind" when you build or remodel, appraisers could care less what you paid for an appliance, they just check it off as being there. Buyers merely notice that the appliances are the current "color of the decade." Today, the current color is stainless. Those of us who have been in home building, home remodeling, and real estate long enough, remember several favorite colors over the years. I think the worst was Avacado.Shudder. But they were installed in millions of homes.
So, as long as the color (Stainless this year) is right, your dishes will get clean, your food cooked, baked, or "nuked" & your perishables refrigerated, with lower priced appliances and even you won't remember what you almost bought.
You will have more money in your pocket, or money to spend elsewhere on your house.
Click on any picture to enlarge
For example, a $250.00 dishwasher fits in the same cabinet space as a $1,250.00 dishwasher, and pretty much looks the same. It may only have two or three cycles instead of eight cycles or more but you can upgrade down the road if eight cycles are important to you. Your lender could care less and it will not affect the final appraised value of your home.
For example, a $500.00 cook top surface unit fits in the same space as a $3,000.00 convection cook top surface unit. It may not cook as fast but it looks as good and again you can upgrade down the road. Once again your lender could care less than it will not affect the final appraised value of your home.

For example a $700.00 refrigerator fits in the same space as a $2,500.00 refrigerator. You can upgrade later and again your lender could care less. Refrigerators don’t even factor into the appraised value of your home because they are a plug-in appliance.
All prices were found online at bizrate.com.
So when you are in the planning stages and estimating building costs use a dollar allowance for appliances that satisfies your desires but leaves room for compromise. That way savings of $1.00 to $2.00 a square foot can be found at the last minute. Cool!