Anyone else slow to make a major purchase?

I am. I’m dragging my feet on getting another boat. I really believe if there’s any way you can delay big ticket purchases out at least a year, you’ll be better to do so. Interest rates have got to rise and the supply chain debacle will pass.

When it comes to money, I do my best the separate fact from emotion. If I can afford the purchase and it is going to useful and practical I can pull the trigger pretty quick. If it’s a “want” item, I really try to get over that urge until I’m certain it’s purchase won’t impact any other financial aspect of my life.

Building a house...trying to wait until some normalcy returns, but I’ve about decided this is about as normal as we will get.
Water well was $17K in November 2020, $21K 13 months later. It seems if 1 thing goes down, another thing goes up and offsets the savings. We shall see. I thought the wheels would’ve ran off the economy by now...

Yeah, been wanting a new truck but things are crazy..

If I want something and can afford it I buy it. We are not guaranteed another day on this rock. Life is fragile. I try to live the one I have as fully as possible.

I am. I'm not paying $50,000 for a used boat. I'll wait until the bubble pops or at least until someone is desperate to sell.

Gonna get a new truck in the next month or two. Interest rates are pretty good right now even if prices are high. My GMC 1/2 ton is a 2007. I'm about ready for something new.

I suspect houses and cars will stay high for another year or two

finding what you want is harder than getting off the wallet these days... for the first time in my life, I just ordered a new Ford truck, spec'd it out the way I want it, average time of delivery is apx. 3 months give or take, I can wait...

when the fed raises rates and they start hitting 3% or more on the prime rate houses should come way down and there may be a glut of existing homes in some places.

vehicles will not come down much I think, the mfrs probably have to offset the expense of going "green" to appease the pedo and his pedomongers.

This is True we are not promised tomorrow!! Live for today!!

3% is cheap money still, People are moving into Texas all the time. They are building new houses all around collin county like crazy the last few years, their is still a major housing shortage in our area.

Well, before I got sick, I was toying with the idea of buying a twin engine boat (22'-26'). But strangely, living without a vehicle payment or a mortgage payment for awhile now has really made me averse to taking on a boat payment. It's nice not having to meet a bank's monthly payment deadline.

In 2021

My wife wanted a new car….. I bought it at sticker
My boat wanted a new motor…..I bought it at just below retail
What’s crazy was I was glad just to get them!

We sold some overpriced investments this year too. Now I’m waiting for the shoe to drop on Real Estate etc.
A little more interest is cheap compared to overheated prices on larger things, namely Real Estate.
I’m on the sidelines

It took me 46 years but I just took delivery of my new boat.

What's going to drive the price of real estate down and why would that happen? Why would the interest rate go up by 3%? Politicians would be voted out en masse if they did something that destructive to home values. Inflation is driven by the mass printing of money by both Trump and Biden, not by a low fed prime rate. They'll probably raise it .5% in 2022, but that's not going to have a large impact on house prices.

90% of the world's millionaires got there by real estate - that investment isn't going anywhere long term. And there is no mortgage crisis to drive a short term crisis. House prices may settle back in 5%-10%, but they're not going to drop significantly.

As for the OP's question - I am very slow to make big purchases. I usually doubt them back and forth a few times.

We have put our house purchase in Florida on hold for now. Wife spent a month looking at places there and we are NOT going to over pay for some of the junk that is being sold. i also contemplated looking for a nice used boat but I'm going to wait on that a well.

This is how I approach spending decisions. At 54, I look at every $1 spent today as $2 of retirement money. I don’t sweat the small stuff, but the bigger purchases deserve proper thinking.

My wife started in about an Expedition. Thinks her 4runner is too small. I just can't bite the bullet right now. It's a seller's market.

Buyer's remorse is not fun. And I've been there many times.

This is true. Everything is a trade off, and I don’t want to be working in my 60s. The ability to delay pleasure is a sign of maturity.

My wife must be VERY mature. She delays my pleasure regularly.

I bought a new boat and truck in 2020. There wasn't any discount on my boat, it is a Nitro Z20 and they sell for pretty much the same everywhere. I did get that $500 in house spending card from BPS. But they had the one i wanted in stock so I did not have to wait on one.
My truck a 202 Chevy Silverado RST model, I was super lucky on that one. I guess they needed to make a sell because list price was over $55,000 and I told them i would buy it for $42,000 and they agreed.
I am set for a good 20 years or so. My house is paid for, so those are my only two payments which both of them will be paid off in 3 more years.

If you plan on purchasing a vehicle and have a trade or vehicle to sell its no big deal. Even though dealers are getting full retail or more used is bringing outrageous money. Kind of makes it a wash comparing to a normal market. It's only a problem if you're needing a new ride that isn't replacing another one.

Very true, expect the fact that inflation is at nearly 40 year highs and when a loaf of bread begins to cost $5 the sh#t will hit the fan. Not since quantitative easing began in 2008, have we had any inflation to worry about and certainly not at these rates.
All the idiots in Washington came up with this “great philosophy” of pumping cash to heat up an economy and we are currently at 1.25 debt to GDP ratio. The first time since World War II. The difference is during World War II we built things. Over the last 20 years we have just pumped cash into entitlement programs without holding anybody accountable. During World War II we taught people how to fish. In the last 20 years we just gave people fish. It could get bad especially when the national debt service outstrips the department of defense annual budget.
They will have to raise rates to fight inflation or you’ll end up with the dollar beginning to look like Venezuela. The outcome either way ain’t pretty.
Sidelines for me

I’ve been scared to buy something for the last 10 years, kept waiting for the price drop, boy did that backfire. I don’t see prices ever coming down on anything, especially when fast food workers are getting $18 hr. No way I’m paying $65k for boat that was $52k last year. Doubt I’ll ever buy a new boat with the way prices keep rising. Land cost where I live are beyond insane and the cheap cookie cutter houses are $350k and up.

easy to tell you know nothing of the 1980's.
ask me how I know....

Yep
In 1982 my first car payment. A 10% interest-rate. In 1985 my first house carried an 8% interest rate. Hold on y’all it’s going to happen

There is a new pistol I want.
That's "want," but I do not need.

I'm in between jobs, so yes, I'm definitely "holding off" for now.

...------

I always find myself putting off buying stuff because I research EVERYTHING and then by the time I've made up my mind, the new model is coming out in another month or two so then I must wait for that and then it starts all over again. I've been researching trucks for the last year and have put 30,000 miles on mine since then, but now a lot of new models are coming out in 2023... oh well, I have a 2022 on order.

Congratulations! I hope you get lot's of enjoyment from it - sounds like you deserve it.

First house in 1980, mortgage rate 14%.

Well lets see it! I hope that you negotiated from a position of power!

When the debt is low you can afford to have high interest rates.
If interest rates go up so does servicing the national debt. That is the main reason they keep printing money.
We cannot afford higher interest rates.

I just retired so I'm waiting to see how it goes. So far its looking pretty good but I have not bought a new truck since 1999 and my last boat was 6 years old when I bought it in 2005.
I don't plan on any large purchases but if I do I will pay cash.

My first house loan at 16% allowed me to pay back 307,000$ in interest on 80,000$ for thirty years.

my sons house at 3% will allow him to pay back 258,900$ on a loan of 500,000$ over thirty years.

so no, I have no compassion for anyone that wants everything for free.

I know a guy

Thanks. Do I know you?

Dude you sound really smart. Have you thought about running for public office?