5 Most Expensive Things You’ll Ever Buy

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While buying things every so often for a few hundred — or even a few thousand — dollars is common for the average person over a lifetime, there are some purchases you’ll make that far exceed those amounts.

And while, as the average person, you’re probably not going to buy an 18-karat white gold BVLGARI Skeleton Watch for over $80,000, a $200,000 Mercedes G-Class SUV or Strottarga Bianco Caviar that costs over $50,000 per pound, there are a few things that you will buy that will rival those prices (and exceed them) during your lifetime.

Here’s a look at five most expensive things you’ll ever buy.

Education 

A college education is expensive, even for a four-year degree. According to U.S. News & World Report, the average college tuition and fees for 2023-2024 at ranked colleges are the following: 

• Public, in-state: $10,662
• Public, out-of-state: $23,630
• Private: $42,162

At those same annual prices, a four-year college education could range from $42,648 to $168,648. And that’s not to mention your living expenses while at college, such as rent and food, which could elevate your annual costs by thousands.

If you decide to complete education beyond a four-year degree, such as masters or a doctorate, you can expect your educational costs to increase by tens of thousands. The average cost of a masters degree is nearly $40,000 and the average cost of a research doctorate could be close to $100,000 or more, according to the National Center for Education Statistics.

Vehicle

When you’re first starting out on a tight budget, you probably won’t spring for the car of your dreams. However, as time goes by and you start earning more and gaining more room in your budget, you’ll likely want a nicer, and even roomier, vehicle — especially if you start a family. 

According to Kelley Blue Book, in July 2023, the average new car buyer in America paid $48,334 and the average luxury car buyer paid $63,552.  Plus, this number could double or triple if you also buy a car for your spouse and a teen driver. 

And you probably won’t keep your car for a lifetime. You’ll probably get one at least every decade or so, if not sooner. According to Autoweek, the average age of all U.S. cars is around 12.5 years.

Wedding

For some, having the wedding they’ve dreamed about is a priority, and if that’s you, you can expect to shell out some major cash to achieve your goal. According to The Knot Real Weddings Survey, the national average cost of a wedding is $30,000 — $2,000 more than last year’s national average.

If that sounds like a lot, here’s a breakdown of average costs involved with a wedding, according to The Knot:

• Reception venue: $11,200
• Photographer: $2,600
• Wedding planner: $1,900
• Live band: $3,900
• Reception DJ: $1,500
• Florist: $2,400
• Videographer: $2,100
• Wedding dress: $1,900
• Wedding cake: $510
• Catering: $75 per person
• Transportation: $980
• Wedding favors: $440
• Rehearsal dinner: $2,400
• Engagement ring: $5,800
• Wedding invitations: $510
• Hairstylist: $130
• Makeup artist: $120

House

If you thought buying a house was expensive a few years ago, you’re in for some sticker shock now. In October 2023, housing prices were up 3.4% from a year ago, with a median price of $413,504. And with mortgage rates over 7%, you’ll pay plenty in interest over the life of your mortgage loan.

Funeral 

Last but not least are funeral expenses. The median cost of a funeral with a viewing and burial was $7,848 in 2021, according to the National Funeral Directors Association. The median cost of a funeral and cremation was somewhat cheaper at $6,971. Additionally, the casket can cost as little as a few thousand dollars to $10,000 or more if you opt for one made of mahogany, copper or bronze. Additional funeral costs to consider include the following, which can vary depending on location and vendors and drive the cost up by thousands more: 

• Vault (some cemeteries require one)
• Burial plot
• Headstone
• Flowers
• Published obituary

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