Up until a few years ago, you saw many people moving very frequently (every 3-4 years it seemed) because rates were so low and you didn't need much down. We were in that group as we continuously upgraded our house and location from 2004 to 2015 (bought/sold Huxley, West Des Moines, Urbandale, and finally Waukee). We were never anywhere long enough to get equity.
Now, with prices and interest rates so high, it's locked a lot of people into their current house. We've now been in the same house since 2015 with no desire to fight the market as it exists. We've actually been forced to "settle in" and it'll help us down the road as we're actually building equity, got rid of PMI, etc.
There is something to be said for buying new houses that I think a lot overlook though. I am handy but don't like to do much fixing any more. We had to with our first 2 houses (split foyer in Huxley and remodeled a house in Valley Junction) and our last 2 houses have been new. Not having to worry about much of anything for 5-10 years is blissful.
Unfortunately, we're now at the point where we're having to replace appliances. It's been a decade since we bought a fridge but usually go with one of the higher-end GE's - but not the crazy stupid kind. We just ordered one this past weekend and it was ******* $3,900 after 5-year warranty, haul-away, etc. And that was with Nebraska Furniture Mart's big Anniversary Sale knocking $1,250 off the list price.
Now, with prices and interest rates so high, it's locked a lot of people into their current house. We've now been in the same house since 2015 with no desire to fight the market as it exists. We've actually been forced to "settle in" and it'll help us down the road as we're actually building equity, got rid of PMI, etc.
There is something to be said for buying new houses that I think a lot overlook though. I am handy but don't like to do much fixing any more. We had to with our first 2 houses (split foyer in Huxley and remodeled a house in Valley Junction) and our last 2 houses have been new. Not having to worry about much of anything for 5-10 years is blissful.
Unfortunately, we're now at the point where we're having to replace appliances. It's been a decade since we bought a fridge but usually go with one of the higher-end GE's - but not the crazy stupid kind. We just ordered one this past weekend and it was ******* $3,900 after 5-year warranty, haul-away, etc. And that was with Nebraska Furniture Mart's big Anniversary Sale knocking $1,250 off the list price.
