The trap people fall into is replacing the battery way too early just because they saw a number drop. Your 86% is genuinely fine - Apple's own support docs say batteries are designed to retain 80% capacity after 500 full charge cycles, and that's their "end of life" threshold. So you're barely past that theoretical mark if at all. The real pitfall though? Ignoring whether your phone is actually struggling. If you're still getting a full day of use without the phone getting hot or shutting down randomly, there's zero reason to spend the money right now.
The timing that actually makes sense is when you notice the behavior change - like your screen dims way more aggressively in low-light situations, or the phone cuts out when the battery says it has 20% left, or it gets noticeably warm during normal use. Those are signs the battery's chemistry is genuinely degrading. At 86% health, you could realistically have another year or more before hitting that point, depending on how you use it. Some people keep phones going at 75% health without major issues.
If you do eventually decide to swap it, Apple's battery replacement costs around $69-79 depending on your model, which is pretty reasonable. But honestly, I'd wait until either your daily experience tanks or you're getting rid of the phone anyway. No point throwing money at something that's working fine just because a percentage looked scary.