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Has anyone spent half the price of their house in jewelry?
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Enerchi
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Re: Has anyone spent half the price of their house in jewelr
I started adding up... you're right, it does add up quickly! Yikes
Then I realized that's been over about 7 - 10 years during which I started to purchase things for myself. I've paid for it all myself, so I'm not taking money away from any family/home responsibilities, which made me feel better.
But overall, not even 1/10th of the cost of our first house back in 1986, so (phew!!) I'm still okay. Hey! does that mean I've got all that extra wiggle room to start spending????
YIPPEE!!! 
I started adding up... you're right, it does add up quickly! Yikes
Then I realized that's been over about 7 - 10 years during which I started to purchase things for myself. I've paid for it all myself, so I'm not taking money away from any family/home responsibilities, which made me feel better.
But overall, not even 1/10th of the cost of our first house back in 1986, so (phew!!) I'm still okay. Hey! does that mean I've got all that extra wiggle room to start spending????
YIPPEE!!!
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Re: Has anyone spent half the price of their house in jewelr
If I may, I would like to go off on a tangent here for a moment. We were window shopping on 5th ave yesterday and I just could not resist going into DeBeers. Well, there was the most gorgeous ring I have ever seen there and I could not resist asking to try it on. The saleswoman very kindly accommodated me and all I can say is wow.
It was a 4.35 round EVVS2 and was only....wait for it...$620K!!!!!! The tax alone would be over 50K!
Well out of reach for us which I guess is fortunate because if it was more within reach I would be obsessing continuously over the beauty. And the reason I am posting about this is because when this thread was first posted I absolutely could not understand why anyone would purchase an ER that was a large percentage of their home but heck, I guess I could see why now LOL. Though I have to say that anyone who purchases that ring should have (IMO) not just many millions but many hundreds of millions because I still think in order to be able to sleep at night it shouldn't be a good percentage of your savings and income. Though I could see how one could be tempted!!!
I will add that I now know my perfect dream ring size and that is 4.35 carats! It truly looked the perfect size on my hand!!
ETA: I apologize for not taking pics but my dh thought it would be tacky for me to take a pic of the ring on my hand at DeBeers but the thought did cross my mind for a moment since I knew my fellow PSers would enjoy seeing this amazing ring .
Enerchi|1329744759|3129909 said:I started adding up... you're right, it does add up quickly! Yikes
Then I realized that's been over about 7 - 10 years during which I started to purchase things for myself. I've paid for it all myself, so I'm not taking money away from any family/home responsibilities, which made me feel better.
But overall, not even 1/10th of the cost of our first house back in 1986, so (phew!!) I'm still okay. Hey! does that mean I've got all that extra wiggle room to start spending????
If I may, I would like to go off on a tangent here for a moment. We were window shopping on 5th ave yesterday and I just could not resist going into DeBeers. Well, there was the most gorgeous ring I have ever seen there and I could not resist asking to try it on. The saleswoman very kindly accommodated me and all I can say is wow.
It was a 4.35 round EVVS2 and was only....wait for it...$620K!!!!!! The tax alone would be over 50K!Well out of reach for us which I guess is fortunate because if it was more within reach I would be obsessing continuously over the beauty. And the reason I am posting about this is because when this thread was first posted I absolutely could not understand why anyone would purchase an ER that was a large percentage of their home but heck, I guess I could see why now LOL. Though I have to say that anyone who purchases that ring should have (IMO) not just many millions but many hundreds of millions because I still think in order to be able to sleep at night it shouldn't be a good percentage of your savings and income. Though I could see how one could be tempted!!!
I will add that I now know my perfect dream ring size and that is 4.35 carats! It truly looked the perfect size on my hand!!
ETA: I apologize for not taking pics but my dh thought it would be tacky for me to take a pic of the ring on my hand at DeBeers but the thought did cross my mind for a moment since I knew my fellow PSers would enjoy seeing this amazing ring
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Re: Has anyone spent half the price of their house in jewelr
Interesting question.
As far as I can estimate maybe 3% of house value.
I can't imagine spending half the price of my house on shiny things, much as I love them--at least not here in the US. Maybe if I lived in a country where you didn't pay $$$$ for jewelry and then find you get nothing much back if you try to sell it so that it's useless as an investment. And I don't think we are going to tank here enough soon so that we need portable wealth to escape the country with. In those situations, jewelry worth half a house would make sense.
Of course, in the past couple of years people have found that their homes are worth much less than they bought them for and that they don't sell,b ut that's unusual situation I think, because of the real estate bubble. And house prices will certainly rise again, so longterm most people should be okay , if they can hang on (and if they really could afford the house in the first place--that so many couldn't and yet were allowed to buy was even more of a problem than the bubble was, but hopefully everyone has learned from this).
Interesting question.
As far as I can estimate maybe 3% of house value.
I can't imagine spending half the price of my house on shiny things, much as I love them--at least not here in the US. Maybe if I lived in a country where you didn't pay $$$$ for jewelry and then find you get nothing much back if you try to sell it so that it's useless as an investment. And I don't think we are going to tank here enough soon so that we need portable wealth to escape the country with. In those situations, jewelry worth half a house would make sense.
Of course, in the past couple of years people have found that their homes are worth much less than they bought them for and that they don't sell,b ut that's unusual situation I think, because of the real estate bubble. And house prices will certainly rise again, so longterm most people should be okay , if they can hang on (and if they really could afford the house in the first place--that so many couldn't and yet were allowed to buy was even more of a problem than the bubble was, but hopefully everyone has learned from this).
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HollyS
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Re: Has anyone spent half the price of their house in jewelr
"How many of us actually spent half the value of their current homes on jewelry over their lifetime?"
Seriously????? There is not a chance in Hades that I would spend that kind of money on jewelry.
Priorities, people, priorities.
A few nice pieces are lovely to have, and lovely to wear. But spending a chunk of my retirement on . . . accessories?
I think not.
"How many of us actually spent half the value of their current homes on jewelry over their lifetime?"
Seriously????? There is not a chance in Hades that I would spend that kind of money on jewelry.
Priorities, people, priorities.
A few nice pieces are lovely to have, and lovely to wear. But spending a chunk of my retirement on . . . accessories?
I think not.
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Re: Has anyone spent half the price of their house in jewelr
I've added it all up as best as I can remember, from silver earrings to diamond rings. I've spent about 3% of the cost of a 1-bedroom flat on a leasehold* in the area I currently live in. Or about 1% of a 3 bedroom terraced house with a freehold** in the area I currently live in.
*Leasehold means that you are leasing the property from the landowner over an extended period of time, such as 100 years. You would agree to buy the property at £xxx,xxx price for XX number of years and get a mortgage for that amount from the bank. If you want to keep the property, or pass the property on past that point, you must pay the landowner to extend the lease of the property. You are free to sell the property to someone else or decorate it as you wish while you own it. Major changes to the property must have the landowner's permission.
**Freehold, it's yours - forever!
I've added it all up as best as I can remember, from silver earrings to diamond rings. I've spent about 3% of the cost of a 1-bedroom flat on a leasehold* in the area I currently live in. Or about 1% of a 3 bedroom terraced house with a freehold** in the area I currently live in.
*Leasehold means that you are leasing the property from the landowner over an extended period of time, such as 100 years. You would agree to buy the property at £xxx,xxx price for XX number of years and get a mortgage for that amount from the bank. If you want to keep the property, or pass the property on past that point, you must pay the landowner to extend the lease of the property. You are free to sell the property to someone else or decorate it as you wish while you own it. Major changes to the property must have the landowner's permission.
**Freehold, it's yours - forever!
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Lotus99
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Re: Has anyone spent half the price of their house in jewelr
Nope. Not even close.
Of course, with the drop in house prices and the increase in the cost of gold and diamonds, I think the percentages may have shifted.
If I were in a position to spend that much on jewelry, I'd probably buy a nicer house.
Nope. Not even close.
Of course, with the drop in house prices and the increase in the cost of gold and diamonds, I think the percentages may have shifted.
If I were in a position to spend that much on jewelry, I'd probably buy a nicer house.
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Re: Has anyone spent half the price of their house in jewelr
You know, it really depends. In 2006/7, I had to buy my ex's half of the house. We bought a while ago, and when we split, it was at the top of the market and he received the highest price possible. So I ended up buying him out for three times what we had originally paid for it. If I think of what we originally paid for it, then yes, I've probably spent half the price in jewelry. But what I paid for it more recently? No Way!!
You know, it really depends. In 2006/7, I had to buy my ex's half of the house. We bought a while ago, and when we split, it was at the top of the market and he received the highest price possible. So I ended up buying him out for three times what we had originally paid for it. If I think of what we originally paid for it, then yes, I've probably spent half the price in jewelry. But what I paid for it more recently? No Way!!
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