HOUSE OR CAR: The age-old question...... - Page 3 - Ford Forums

Ranger04 · 03-11-2005, 04:55

Quote:

Originally Posted by Fordy

Mate i was in a similar position, and i bought a house first then my car a couple of months later, once you have a house you can pretty much buy anything but if you bough the car first it makes it harder.

Exactly.

loxxr6 · 03-12-2005, 07:43

Quote:

I'll use my 1st home buyers grant to pick up a Suzuki Vitara soft-top or something, something that, if it has to be second-hand, I can at least take bush-bashing or something for fun & not give a damn. Hell 9-months seems like a long way aways but

Sounds like a good idea. I'd compromise on a budget car with mods and then put some money back into the property.

Quote:

Now I've saved almost 20K through bloody hard work & I'm being advised that I should buy real estate. Working two jobs certainly makes you appreciate the hard slog required to save up serious cash, & I certainly don't want to throw my money away, BUT I NEED A NICE CAR!!!!!!

Depending on where you live, 20k may not go far on a deposit anyway...

Jabba · 03-19-2005, 02:46

Jase It is good to see you going about it the right way.. Kept it up and you will be driving that new car soon then you think.. And the garage you park it in will be yours and not someones investment property....

Matt

XD 351 Ute · 03-19-2005, 03:23

Ok, this will start off weird, but bear with me.

Are you ready to buy a house? By this, I mean that do you want to buy a house & contribute to the roof over your head or pay the money to someone else while renting?

I spent the first 12 or so years of my working life spending my money on cars & rent before I realised that I wanted to buy a house & get some assets behind me.
Along with this, I also decided that if I was going to have to pay to have somewhere to live I may as well put the money into something I can cash in later on if needed.

The sad part is that the money I lost in all the cars I had and the mods I did on them would have gone a long way to paying off the house I have now.
That means I would have been walking in to ford with a fist full of cash for the shiny new XR6T.

But at the same time, I don't regret my decisions at all, because I never felt like wanting a house before, I didn't know where I was going or what I would be doing.

The other major issue is housing prices and the state of the market.
There's no point busting your nads to get into a house if the prices are high, and the market is going top drop. Wait a while and you'll get a nice place cheap from someone who has over-committed, and needs to get out.

I got my house for a very good price, and since then the market has gone nuts.
I have enough equity to buy my Super Pursuit Ute if I want it, but I just want to get my house paid for first.

Not only that, the banks will just throw money at me now I have my house, if I want it.

So in a nutshell, if you can find a good house for a good price, grab it.
There will always be a good XR6T for sale later on.

Ed :)

loxxr6 · 03-19-2005, 07:41

Quote:

The other major issue is housing prices and the state of the market.

Don't we know it.....with an interest rate hike the other day and possibly more to come.

deankdx · 03-19-2005, 15:33

Quote:

Originally Posted by loxxr6

Don't we know it.....with an interest rate hike the other day and possibly more to come.

yeah thats a bit of a worry too, interest rates were in their way down when i bought my first house, they were 10% ten years ago, but house prices were half what they are today(i wish i never sold the first two houses Doh)
interesting tool is a mogage repayment calculator here it is have a heart attack http://www.northernsuburbsrealestate...x?TopicId=5460