Expensive Buys You May Regret Later

Everyone at some point has made a purchase that they later regret. From exercise equipment to a piece of land, these items can often be more costly than initially thought. Let's explore the stories behind some of these regrettable buys and how they turned out for those who made them.

1. Exercise Equipment - The Elliptical Experience

Years ago, I purchased an elliptical machine as part of a fitness routine. At the time, it seemed like a great idea for maintaining my health. However, the awkward movements required by the machine took a toll on my knees, causing discomfort and long-term damage. As a result, while I spent hours searching for online tutorials and understanding the machine, I actually used it less than a fraction of what I planned. The time it took to assemble the elliptical machine was several times the amount of actual use it received.

2. Expensive Investment - A Plot of Land

One of the most expensive things I ever bought was a plot of land in JP Nagar I phase, auctioned off by the Bangalore Development Authority (BDA) in January 1984. At that time, the purchase price was Rs 128895/-, which would equate to a significantly higher amount today after adjusting for inflation. My monthly salaries were just Rs 2200 and Rs 900 from my wife's job, and this purchase nearly depleted our savings.

Despite the financial strain, I don't regret this purchase in the least. I used a loan from HDFC to build my house in 1985, clearing all loans within 15 years. The house served as my primary residence for more than 21 years and generated rental income for the next 16 years. Recently, I sold the house at the current market value, highlighting its long-term value.

Here is how the house looked when I first built it in 1985:

3. The Coronavirus Cancelled Cruise

Another regrettable purchase for me was a vacation cruise that I bought with my husband to the Greek Isles for my birthday in 2020. I had signed up for the cruise, allowing RCI to automatically draft 250 Rs a month out of my account for over a year. However, the pandemic forced us to cancel the trip, and I lost all the money I had budgeted for it. Despite trying to arrange a trip of similar value, the only alternative offered was a trip to the Riviera Maya, which we did not wish to take.

Not a single dollar has been recouped from this 3000 Rs investment. Losing this money was a significant blow to my financial plans, and the disappointment from not being able to enjoy the cruise truly impacted our plans.

Conclusion

Through these personal stories, it is clear that many expensive buys can be questionable in the long run. However, it's important to consider both the immediate value and the potential long-term benefits. Whether it's an investment in property or a vacation, each decision has its pros and cons. It's always wise to carefully evaluate your options before making a significant purchase.