Choosing the right diamond may seem easy enough at first glance, but there are a lot of factors that should be considered to avoid regretting your purchase. The first thing to do is to decide on the budget. Mined diamonds tend to be priced high, so you have to be prepared to spend fortune. Lab-grown diamonds are much more affordable, so they can literally work for everybody. They are usually the way to go if you don't want to pay extra. There is also a significant price difference between round brilliant diamond and fancy shapes. If you decide to go with the classic round, you should be ready to spend more. However, this is not as big of an issue with lab-grown diamonds.
Another important thing to remember is checking the diamond report along with inspecting the gemstone itself. Sometimes the report gives you all the necessary information. Still, the diamond itself should drive the purchase. Picking the right cut, clarity and color is a no-brainer, but the best diamond is the one that speaks to you and your significant other
However, there are still few general tips that can help with the decision. When it comes to the cut quality, round brilliant should be graded excellent. Triple excellent diamond (excellent cut, symmetry and polish) is something to look for. Otherwise, the diamond might not be as bright and shiny as you'd like. Sometimes a very good polish and symmetry may be enough for a gorgeous fancy shaped diamond, but in this case proportions should be carefully inspected as well.
Looking at F or G color graded is optimal for a white diamond that is still affordable. The higher-graded diamonds usually cost significantly more, while the lower-graded ones tend to include visible yellow tints.
It is almost never a good idea to go low with clarity. If the diamond has visible inclusions, they can influence the way it looks and reflects the light. SI1 is usually the lowest grade to be considered.