Acquiring a new abode is the ultimate triumph – and the epitome of stress, complexity, and exorbitance. As new digs beckon, stocking it up is supposed to be the ultimate thrill – a celebration of triumphs, from kitchen gadgets to terrace embellishments to domestic wares; however, the bliss can quickly sour. Disappointment often looms alarmingly large in the rearview for a plethora of homeowners post-purchase.
In an outright show of consumer culture, the average household was reportedly crammed with a perplexing 300,000 items. This exceedingly loquacious collection – ranging from kiddie playthings to mundane paper fasteners and dreary ironing boards – has, if at all, only become more encompassing over the years.
Most of this bric-a-brac escapes mundane casual glances, but a select few items continue to serve as relentless hounds, hounding homeowners with bitter remorse. Revealing the most perennial purchases blundered into, GOBankingRates sought the experts’ counsel. The result: a clarion call to tread cautiously before you hit ‘buy.’
Playground Gear for Kids
Why, buying a house with a backyard paints rosy pictures of children frolicking away on a swing set or scaling a castle, the heartstrings of the whole neighborhood tugged by envy. Yet, inevitably, the charm fades swiftly, and the neglected playground equipment transmogrifies into an eyesore – a costly eyesore, mind you.
“Costing anywhere between $2,000 to $15,000, these are quick to become glorified lawn decorations, abandoned by the kids within a fortnight,” Dennis Shirshikov, strategist at Awning, a real estate firm for investors, sagely opines. The poor homeowners are then left with the unenviable choice of shedding them for a song or allowing them to decay into oblivion in their backyard.
Above-Ground Pools
Like playground gear, above-ground pools hog acreage without offering substantial returns. Tackling their upkeep is an arduous task, their utility confined to a single season. Moreover, they lose their allure with the little ones at an alarming pace and metamorphose into eyesores without constant upkeep. “Above-ground pools demand copious maintenance, they need dismantling come winter, and truth be told, reside largely unused post the inaugural week,” Shirshikov observed.
Subpar Stuff
An abode adorned with choicest of things, synonymous with splendor – this is what every homeowner yearns for. However, the siren call of amassing budget junk, that eventually succumbs to wear and tear, is a temptation that needs to be resisted. Unless an urgent need, prudence dictates setting aside funds for a quality version. “Long-term elegant appearances necessitate premium investments,” stressed Judi Kutner, a real estate agent and the chief writer at Apartment Notes. Kutner highlighted monumental items such as doors and flooring, but the warning extends to the minutest buys – each gadget or gizmo frittered away after a year or two reflects unwise use of funds. While budget constraints are a universal concern, overspending on a residence means scrimping on furnishings is a grim reality.
Alfresco Heaters
Amidst the pandemic, Bill Samuel, a stalwart in residential real estate development and the founder of Blue Ladder Development, observed a palpable upsurge in money channeled towards outdoor living spaces – think firepits, televisions, and al fresco kitchens. In colder climes, outdoor heaters emerged as a popular add-on to extend the outdoor season. “However, more often than not, these heaters, mandated to be installed at a specific elevation in the outdoor living space by local building codes, turn out to be an ineffectual expense. Their stipulated installation height causes the heat to dissipate out of the space, rendering them largely impotent, a costly upgrade leaving many northern homeowners rueful,” Samuel lamented.
Oversized Furnishings
Embarking upon a spree of furniture acquisition is every homeowner’s delight. Wandering through stores, the mind conjures the glorious image of lounging on an expansive recliner for the game or stretching out on an expansive L-shaped sofa for a movie night. Yet the homecoming can be quite a dampener.
“An enormous and pricey piece of furniture, incompatible with either the physical dimensions or the overall aesthetic of the abode, invariably emerges as a regrettable outlay,” highlighted Ryan Fitzgerald, a Realtor Magazine “30 under 30” award winner and the owner of UpHomes. Fitzgerald exhorts due diligence before investing in colossal pieces of furniture to obviate the hassle of returns or attempts to pawn them off post-purchase.
Premium Home Appliances
The lure of luxury appliances, from see-through refrigerators to Wi-Fi-enabled contraptions, can ravage finances with price tags soaring into five figures. Yet, their lifespan mirrors that of their thrifty counterparts. “New homeowners, particularly first-timers, often splurge on appliances, only to realize later that the current standard would have sufficed. It’s an exercise in profligacy,” averred “Think like a REALTOR” author Jason Gelios of Community Choice Realty in Southeastern Michigan.
Excessive Small Appliances
Swiftly escalating costs fasten around not just the inordinate spend on grand appliances, but also towards amassing a mountain of seldom-used contraptions such as Instant Pots, rotisserie ovens, rice cookers, and every other minuscule appliance that entices with an irresistible Amazon sale. “An array of culinary solutions, from air fryers to slow cookers, typically end up gathering dust in the cupboard,” Damian Serwin, investment banking analyst and co-founder of Why Budgeting, sagaciously opines.
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GOBankingRates.com:
7 House Items Buyers Almost Always Regret
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