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Cyinthenorth said:
I'm with you. Got hosed when I bought my first car 15ish year ago into signing up for a warranty that added something like $3,000 to the final sale cost. Drove the car for 3 months with no issues until suddenly I noticed paint deterioration on a fairly large section of the car. Took it in and they deemed that it was probably a shoddy paint repair job by the previous owner. But not covered by the warranty. So I got to drive a new to me, 3 month old car with $350 monthly payments that looked like ass for another 4 years until I had it payed off finally. Needless to say on my next car that I am still driving, I did not let the salesman sucker me into any kind of warranty that didn't come free. And fortunately have had no issues and been driving it for over 7 years (2015 model). They really try to scare you with the electrical failure crap on these newer cars. I have never heard any stories first hand of that kind of stuff failing.
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When I got my first job offer coming out of ISU, I went right out and bought a brand new car. I got a brand new Altima from Willis in DSM. The salesman took me back to his office to "finalize the contract." I was 23, this was my first time buying a car, and I did not bring any backup.

He tried to sell me on extended warranties and I kept saying no. Finally, he said "Look, I get $100 in commission to sell you the extended warranty." He then pulls out a $100 bill from his wallet. He said "I'll give you this right now if you'll buy the warranty, that's just how much I believe in it."

In addition to being incredibly unethical, I'm pretty sure that was illegal.
 
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TrailCy said:
We bought a house we could afford and went interest rates shot up I wish we bought a more expensive house originally.

Sure, our value went up 20%, but every house that's more expensive than ours also went up 20%, which is even more out of reach now.
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I’m confused, you’re mad you bought a house you can afford to keep? If you’d have bought one you couldn’t afford you could potentially sell for more than you paid but then would have to buy something else at a higher price so it’s a wash. Don’t get sucked into keeping up with the Joneses bs.
 
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TrailCy said:
We bought a house we could afford and went interest rates shot up I wish we bought a more expensive house originally.

Sure, our value went up 20%, but every house that's more expensive than ours also went up 20%, which is even more out of reach now.
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My property tax increases say you made the right decision.
 
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The housing market is super tough rn. It definitely favors those who can switch employment and not need to move. Pick your career wisely, kids!
We should have probably pulled the trigger in 17-18 but didn't. Between price increases and interest we're fairly stuck. It would help if my wife was better at math. Choose your spouse wisely too, kids!
:D
 
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throwittoblythe said:
When I got my first job offer coming out of ISU, I went right out and bought a brand new car. I got a brand new Altima from Willis in DSM. The salesman took me back to his office to "finalize the contract." I was 23, this was my first time buying a car, and I did not bring any backup.

He tried to sell me on extended warranties and I kept saying no. Finally, he said "Look, I get $100 in commission to sell you the extended warranty." He then pulls out a $100 bill from his wallet. He said "I'll give you this right now if you'll buy the warranty, that's just how much I believe in it."

In addition to being incredibly unethical, I'm pretty sure that was illegal.
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If that happened to me at 23 I would have said make it $200 and have a bag of weed in the car when I take delivery and you have yourself a deal.
 
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Gunnerclone said:
If that happened to me at 23 I would have said make it $200 and have a bag of weed in the car when I take delivery and you have yourself a deal.
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As gullible as I was (am?), I'm honestly surprised I didn't buy his $3000 warranty for a $100 bill.

Side note: I did fall for a typical car salesman trick. I test drove on a Thursday. Then I called on Friday to let the salesman know I was going to buy. He said "That's great! But gosh darnit...the one you test drove just rolled off the lot. I do have that same color available, but it includes a $2000 tech upgrade."

Of course, I felt I HAD to have the black one. So I bought the one with the upgrade.
 
TrailCy said:
We bought a house we could afford and went interest rates shot up I wish we bought a more expensive house originally.

Sure, our value went up 20%, but every house that's more expensive than ours also went up 20%, which is even more out of reach now.
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Just curious why you think you now needed the more expensive house?

I have a client who has a nice house in Ankeny (husband, wife, 1 kid) 2 bedrooms upstairs, a full finished basement with 2 bed rooms and a bar/entertainment area, probably like a $300k house. He has it in his head that he needs to buy this $800K house with 6 bedrooms for some reason. He's the type who feels like he has "to show" he can afford something like that. Seems stupid to me.
 
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isufbcurt said:
Just curious why you think you now needed the more expensive house?

I have a client who has a nice house in Ankeny (husband, wife, 1 kid) 2 bedrooms upstairs, a full finished basement with 2 bed rooms and a bar/entertainment area, probably like a $300k house. He has it in his head that he needs to buy this $800K house with 6 bedrooms for some reason. He's the type who feels like he has "to show" he can afford something like that. Seems stupid to me.
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Me and this guy are the same guy. Power went out from a squirrel getting buzzed? Time to move. Loud car bumping bass drive by at 10:30 pm? Time to upgrade. Might have to take down a tree next year? Let’s not mess with that let’s move and upgrade. Cabinet door is loose? This place is falling apart let’s upgrade.
 
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Gunnerclone said:
Me and this guy are the same guy. Power went out from a squirrel getting buzzed? Time to move. Loud car bumping bass drive by at 10:30 pm? Time to upgrade. Might have to take down a tree next year? Let’s not mess with that let’s move and upgrade. Cabinet door is loose? This place is falling apart let’s upgrade.
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And I'm the opposite. Moving is a pain in the ass, I am at my house until I die.
 
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isufbcurt said:
And I'm the opposite. Moving is a pain in the ass, I am at my house until I die.
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Our culture is all about what's next that's bigger and better instead of being content and in one way or another it seems we all go down the rabbit hole.

The 6 bedroom house your client wants has even MORE room to get MORE stuff to...put in those rooms. Amazing.
 
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madguy30 said:
Our culture is all about what's next that's bigger and better instead of being content and in one way or another it seems we all go down the rabbit hole.

The 6 bedroom house your client wants has even MORE room to get MORE stuff to...put in those rooms. Amazing.
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And then he wonders "where's all my money go?"
 
Just bought a house and we are closing soon. I noticed that a different house in the neighborhood was listed for sale shortly after our offer was accepted. Went and looked at the listing and noticed the sellers bought the house for $550k in 2020 and are listing it 3 years later for...$850k. Absolute insanity
 
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cyfan92 said:
Blessed to have a very affordable home and a 2.5% 30-year mortgage... However, due to the rate, I feel stuck here
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Same here. I'm grateful we have plenty of space for our family in our current residence. We won't HAVE to move to gain more space. We are good for the size of our family.

On a related note: a friend of mine just got a job offer that would require a move to a similarly priced market. However, the compensation did not make up for the fact that his mortgage would go from 2.5% to 7% which was one of the deciding factors to turn it down.
 
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Wife and I are starting to look in DSM area.. somewhat limited to eastern DSM/Altoona/Pleasant Hill.

Pretty much everything is north of $300k if you don’t want to share a wall. We have a visit on Saturday.

Interest rates are a bit rough (at least for modern trends, obviously it’s better than the early 80s), and the houses that are listed for 350 were like 200 in 2019 when people bought them…
 
ghyland7 said:
Wife and I are starting to look in DSM area.. somewhat limited to eastern DSM/Altoona/Pleasant Hill.

Pretty much everything is north of $300k if you don’t want to share a wall. We have a visit on Saturday.

Interest rates are a bit rough (at least for modern trends, obviously it’s better than the early 80s), and the houses that are listed for 350 were like 200 in 2019 when people bought them…
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I know. I’m very jealous that people I graduated with in 2010 engaged to their spouse, with a job in their career field, were able to buy great houses at discount prices and refinance. Me, on the other hand, have bought a house in 2021, sold it in 2022, then bought another last month that while is fine, still needs some updating. I fear that I’m going to struggle financially and not be able to provide a similar upbringing as my parents did to me to a future child (not expecting yet).
 
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