Car Vs House

[evade]

i dont think its the right time to buy a house right now. i'd wait till the end of the year..

i think we'll be in for some surprises in the housing market

BUT HEY THATS MY OPINION..haha

[KezR33]

knowing that you couldnt build a bit of boost past that extra hektic statesmen waiting at the lights.

Sell it and buy a house. When you're a little more mature buy another. That sort of attitude will get you into trouble, believe me, I know.

[LEANBAC]

Sell your for 400k, buy a house

im sure it could be done

hahahaha $ ching ching $

[morgsj50]

you can eat, drink and sleep in your car, you cant go cruising in a house...

[Wyseman]

you can eat, drink and sleep in your car, you cant go cruising in a house...

Having 10 people round to your car for a game of pool and a BBQ sucks tho.

I guess you can get a towbar on the 'line and get a caravan...

[Omurru]

I'm with Ronin though, no more new threads for andru, at least if he has a house he won't be driving on his P Plates crashing into innocent old ladies dropping their kids off at school in corollas, haha

And might stop posting useless comparisons.....

[Russman]

I just bought an investment property in Brisbane. Interest only loan so I'm counting on property going up and rent going up too. Houses double in price every 7-10 years in good growth areas so it's pretty hard to go wrong long term. I've spoken to too many old people saying they bought they're house for $1XX,000 and now it's workth $6XX,000. $500,000 or so of equity just from owning (paying off) the thing. I think it's the safest investment to have. Plus the place I bought is brand new so I'll save heaps on tax every year.

I've still managed to save and own/race my skyline too. I just try not to spend much on it.

[R32Big_boy]

I've still managed to save and own/race my skyline too. I just try not to spend much on it.

No shit....

But srsly though this thread is gay, anyone that says "Boosting" or Boost needs a swift kick in the vagina.

[NickR33]

relax big bird... its all going to be okay............................................. boooooooooost...

haha this thread =

[kevind]

Im 51 years of age got my house and two grown up kids and now have a32rtr you will get there

[R32Big_boy]

*kicks nick in his sandy vagina*

that might get a little bit of that sand out of your vagina, captain faggo.

[Paradizzle]

should net you some hot 15 year olds

Awesome, im going to start using it..

[eMsta]

lol 16 people would rather andru not start anymore threads than buy a house or a car hehehehehehe

gold!!!!!

[Do-Luck]

you can eat, drink and sleep in your car, you cant go cruising in a house...

I mean, yeah, it's totally possible, but there's no chance I'm going to shit in my car.

[ras1983]

Firstly, you'd be stupid to put leisure ahead of investing once you are working full time (its very difficult to save anything as a student on shitty wages).

I think the thread should be changed to "Car vs Investment" because houses aren't the only investments you can make.

Just be careful with purchasing a house now as an investment. There are some false beliefs regarding houses as investments and this can cause financial heart ache.

For one, house prices do NOT double every 7 years, they have just happened to double in the last 7 years. There was a roughly 10-15 year period before that where the majority of house prices were stagnant. We can observe a similiar cycle during the 80's, when house prices skyrocketed as they have now and then there was a good 10-15 years of stagnation.

This is one of the most fundamental concepts of investing; after a huge growth/loss period there will be a long period of stagnation. At the moment the median Melbourne house price is around $470,000; meaning it is somewhere around 8 times greater than the average wage - this means that it is incredibly difficult for the average person to afford a house. We will at the very least see a prolonged period of stagnation in the price of houses in Melbourne (and undoubtedly Australia) because wages have not grown as fast as house prices.

In my opinion, there will be many people who will receive a rude shock over the next 5-10 years when the price of the investment property they bought doesn't increase by a very large percentage (if at all). When you factor in the impossible high prices of homes compared to the average wage and the expected interest rate hikes; there is every chance that the housing market could actually retract like it has in the USA, UK and parts of Europe because the average person simply can't afford to buy a house.

Keep that in mind when deciding on whether or not to purchase a house.

To answer your original question, at least if you buy a house its value will increase in the long run (10+ years), and if you buy at the right time and buy the right property you could snag yourself a bargain and sell it for more than what you paid for it. You can't do that as easily with a car.

Edited July 9, 2008 by ras1983

[Rekin]

Perhaps a better question would be one where both options are similar in price..as mentioned above vs. investment

perhaps;

skyline vs shares

skyline vs overseas trip

skyline vs lifestyle

etc...

[DogKnight]

Go n the instant noodle diet and have both!

[joeyjoejoejuniorshabadoo]

should net you some hot 15 year olds

win/win

[Modena]

If you need to ask which is more important in life, a car or a house, then you obviously need to grow up and mature, especially with current real estate market in Australia.

I have just sold my Skyline and bought a near newish 3 bedroom, two storey house within 22 KMs from CBD. I could of even kept the Skyline but I figured that a fuel economic car like a Corolla will suit my budget a lot better and I got a decent price selling my car EARLY instead of waiting till the petrol hits 2 bucks where Id get peanuts.

I also own shares but they fell over recently which does not matter as I am in it for the long haul.

And as some already said, the house will appreciate in the years ahead, a car (esp a Skyline) will always fall in price.

Now I just need to find myself a newish corolla... boring but effective. And besides, if you put up with crap early on in life (buy a house and pay it off as much as you can early on) or buy more investment properties and shares then after a while you will rip the rewards because your assets will apreciate and who knows you might even be able to drive an exotic while...

So the moral is, buy a house asap, live below your means and you will achieve financial success earlier than most people.

EDIT

Oh and ask old people how "sweet" it is to live off the pension... cant afford anything and most of the old folk in this country own their home outright... imagine that you have to rent when you are 60 yo! Also remember that your time and working ability is your greatest and most important asset, once you get old and weak, you can kiss your financial security good bye.

Edited July 10, 2008 by Modena

[Modena]

i knew i should of mentioned it.

i know houses are the logical choice but my question was just in terms of how all you guys would feel knowing the skyline isnt in the driveway anymore.

knowing that you couldnt build a bit of boost past that extra hektic statesmen waiting at the lights.

i really cant picture it happening with me lol

How old are you Andrew? And have you ever had a GF? No offence but you sound like a young guy full of testosterone and not much common sense upstairs

Idiots that drag at the lights, lose their fully sick rides to police and rightfully so.

Its usually the hoons that own a fully hectic Skyline or a commodore that are in their late 20s and still live with mom and dad.

Edited July 10, 2008 by Modena