Short of expensive and painful IPL permanent hair removal, epilators are the best possible way to remove unwanted hair. Cheaper than regular waxing and more comfortable re-growth than shaving. I think guys can use this as well to get a closer shave.
Phillips SatinPerfect Epilator
Most electrical brands like Braun, Phillips or Panasonic carry epilators and it can retail from $50 to $200. I have had 3 sets so far, the first being the original Epilady that my mom bought for me from Sell-A-Vision the home shopping network. I change sets for the improved features and not because it breaks, so I guess 1 set can last you a lifetime.
Braun Silk-epil Dual Epilator
Some important features you should look out for:
(1) Rotating head, your body is curved not flat
(2) Removable head, so you can wash and clean it
(3) Different hair lifters to fit the different parts of your body and ensure finer hairs are removed
I try not to come into contact with water just after depilation. Instead, I dust the hair off with a dry towel or brush followed by a post-depilatory cream bath. Post-depilatory creams help slow down regrowth, regrowth is also softer and lesser. Currently, I am using Caron Bump Eraiser that I paid $70 for, list price online says $26! I am never trusting my friend's waxer again.