House and Car Expected Features Creep

Buyers expect much more from their homes and automobiles than when my parents were purchasing these items. Part of the increased costs of cars and houses is due to the increase in expected in these products.

In my parents first purchased house, they had all the contemporary amenities: air conditioning, dishwasher, Formica countertops, intercom system, car port, and a 1/4 acre lot in a newly build subdivision.   The first car my dad bought was a stick shift and maybe a radio.  The second car he bought had automatic transmission and a radio, which was the first car that I drove.   The third car was the same, just automatic transmission and a radio.  Finally, in the fourth car, we got air conditioning.

The first house I bought was a 70 year old fixer upper, from which I learned I wasn't good at renovating houses.  I only had the basics refrigerator, stove over an oven, Formica countertop and steel sink without a garbage disposal.  The second house, which I bought 20 years later had still had a basic kitchen, but also had a laundry room, a whole house vacuum system, whole house stereo speakers,  a finished basement and a three car garage.  It also cost 8 times more. 

The first car I bought new was a manual shift, because I wanted one, with A/C and radio which were now standard.  The second car I bought used was still a manual shift, with A/C, radio and tape deck, electric windows/mirrors and was a convertible.  My third car, was used also, added air bags, ABS brakes and multi CD player.  For my fourth vehicle, which I bought new, I regressed and bought a manual pickup truck, with air bags, ABS brakes, A/C and radio/cassette player.

 Of course, no one wants to go back to only the base features that were only available many years ago.  And I realize that a portion the increased costs for houses and automobiles may be due to features that are now expected. 

For more on Crossing Generations, check back every Thursday for a new segment.

This is not financial, car buying, nor home buying advice. Please consult a professional advisor.

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