This is a very common comparison IME. My groups do the same thing.
This, however, is were we differ in preference. The concept of a "common" magic item should not exist. Personally, in a fantasy game, I don't like the magical equivalent to the modern conveniences we enjoy.
Even a potion of healing, which in 5E terms, recovers a commoner from 0 hp to 4 hp every single time (healing a minimum of 4 hp), should be an item rarely seen. At 50 gp (or $5,000) that is not nearly enough cost to represent the idea of an item so rarely seen by a commoner.
If we look at the 2014 PHB, a "comfortable" lifestyle is 2 gp / day. Such a person must make at least that amount to maintain their lifestyle; a skilled blacksmith is good example. Now, a "modest" lifestyle is 1 gp / day. If our blacksmith choose to live a modest lifestyle, they would save 1 gp / day over what they make. In under two months, they could afford that potion of healing. For me, that is too easy and too low. If they saved an entire year's worth of workdays (say 250 days) and had 250 gp, that would be more reasonable to my liking for a potion of healing. At 250 gp, a potion of healing is also something no PC could begin the game with, but a party might pool their initial resources to have one in the group.
So, it is easy enough for myself to adapt for my games when compared to 5E's design. No "common" magical items at all. "Convenience" magical items do not exist in that sense. For all other magical items, I can multiply the buy / create costs by a factor of x5 and I can deal with that; I would also double the time factors.