How long do you plan on deferring major purchases?

[FIREarly]

My wife and I had a lease that was going to expire soon. We went to the dealership and bought a new car to replace the leased car. We believe we made the right move buying the car instead of leasing (renting) it.

Depending on how often some people change cars will have differing opinions on whether to lease/buy the car but we feel we made the right choice for us. Here is to believing we will have this car for 5+ years.

PS I want to buy an investment home too and will do that as soon as the downpayment is ready and people start traveling more frequently. Some people might have PTSD right after COVID19 ends (that is a separate topic).

 

[Kwirk]

We won't be doing any indoor projects for the foreseeable future but I have a landscaping project that I'd like to get going as soon as possible.

 

[FreeBear]

A little late now to reconsider. We bought a house in the sunny SW a month ago. "Stuck" down here due to shelter in place and fear that it's much riskier up north. Weather still sux up there too...

Now need to unload the northern place. Not looking forward to it. Anticipate probable delays will easily cost 5 figures. It is what it is. One day at a time.

It is wonderful down here though. Looks like we have a summer and a winter home for now. I don't regret pulling the trigger, because it has been a life-long dream to move out west/south-west. Was more afraid of running out of time than money. Still true now.


We did delay replacing the water heater, though. Still bought all new appliances right before things started getting ugly. No regrets, esp. re the huge new fridge, now packed to the gills.

 

[Out of Steam]

We're short a car because our daughter had to move back home when her grad school closed.
Will probably be in the market for a car (used or inexpensive new) shortly after the all-clear.

 

[Scuba]

Well, yesterday evening our City announced that all non-essential construction would cease immediately effective today, and no new building permits for non-essential home remodels will be issued until further notice. Residential remodels are specifically defined as non-essential. If you have a remodel in process and your home is uninhabitable, it can continue, but ours hasn’t started yet.

Therefore we are involuntarily delaying what was to be our major purchase this year. Who knows when it can start again, and whether by that point we will even want to do it this year. We live in an area where seasonal rentals are very expensive and are mostly already booked for the next season anyway so we have to finish our remodel before Thanksgiving or delay it until 2021.

We have been in our new home for 5 months. We never unpacked about half of the boxes. All artwork is still packed. We’ve been tolerating living in a disaster zone all this time, anticipating we’d be moving out to start our remodel soon. Now our dilemma is whether to use all this free time we have now to unpack, or just continue to live in a very uncivilized and depressing environment for another year. Seems like we should unpack, but we don’t have places to put things without investing in shelves/cabinets that would likely be temporary. Hence the temptation to do nothing and continue to exist among the boxes.

 

[sengsational]

We're short a car because our daughter had to move back home when her grad school closed.
Will probably be in the market for a car (used or inexpensive new) shortly after the all-clear.

You're in the driver's seat, so to speak. I put our old van up for sale with an aggressive (low) price and got zero interest.... Not a sniff. If I were in the market for a vehicle, I'd be offering 75% of KBB, and you'll probably get it.


I tried to talk DW out of buying the 2019 van, as the old one (that I can't sell) is perfectly fine. Nothin-doin ... We did our big purchase in the face of this shake-up

 

[Out of Steam]

You're in the driver's seat, so to speak.

True about that. Our daughter doesn't particularly want to drive, but there really aren't other ways to get around our suburb. Though, if she really needs a car, we can put her into something safer and more reliable than she would choose herself.

 

[brett]

I would want to understand what a good price is today and what an excellent price may be.

Automobile sales are down 45 percent in our area. I have to think that appliance sales will be down as well. From my perspective that points to some very good sale prices in a few months as businesses try to improve their cash flows and inventory positions.

My guess is that there will be some great sales on new cars. Not only price rebates but low/no finance fees. Hang tight for a month or two.

 

[Koolau]

The only thing I'm deferring is airline tickets to the mainland. YMMV

 

[Sunset]

The only thing I'm deferring is airline tickets to the mainland. YMMV

That's why after 5 days in HI, I decided I wouldn't want to live there, the feeling I would have that I'm stuck on an island bothered me.
That was before Covid-19, so my consideration was under normal circumstances.

At least it's a really nice island

 

[Koolau]

That's why after 5 days in HI, I decided I wouldn't want to live there, the feeling I would have that I'm stuck on an island bothered me.
That was before Covid-19, so my consideration was under normal circumstances.

At least it's a really nice island

We call it Rock Fever - that feeling that we are trapped 2500 miles from the closest land. I've never felt it, though I'm getting tired of being stuck in the apartment. When we first looked at property, the RE agent mentioned Rock Fever and how to prevent it. She said that any time one even begins to feel "trapped" to buy an airline ticket and go to the mainland for as long as it takes. Since we go once a year, I guess we've just never felt trapped.

We have known a lot of folks who lasted less than a year to a few years once they moved here from the mainland. We know only a handful of other ha'ole who have been here as long as we have. I guess everyone is different. As Dirty Harry said "A man's got to know his limitations."

 

[athena53]

I've got someone coming in tomorrow to draw up a template for quartz countertops. (Yeah, I know- they have safety protocols, have asked if I've had COVID or been exposed to someone who has it, the person will stay 6 feet waya, etc.) I'd decided that I could fund it with a tax refund and the savings in lower estimated tax payments this year. I'm happy to keep some businesses going.

Travel is a major expense but right now i'm chasing down refunds form a curtailed trip and the ones I expect to come in will fund a good deal of my travel for next year. I have decided not to try Europe this fall. Nothing was booked yet, fortunately.