Car Vs House

[eMsta]

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.

im going to be 27 and still with my parents....does that make me a hoon?

[madbung]

* Takes time to consider a serious answer to this thread....

f**k that, you go the car.... Can chicks see you cruising in a fully hektic lounge room? hell no.

Is an appreciating asset a wiser move than a depreciating one? Shit no, the only skiddies you can do in a house are the ones in your jocks and who likes them?

Gardening sucks ass...fresh air, fauna and natures little wonders meh!

Go the car Uleh, sitting on a bonnet beats a balcony any day ask anyone.

No I didn't vote!!@!!

[Modena]

im going to be 27 and still with my parents....does that make me a hoon?

I dunno... does your Jazz have a pod filter?

[Modena]

* Takes time to consider a serious answer to this thread....

f**k that, you go the car.... Can chicks see you cruising in a fully hektic lounge room? hell no.

Is an appreciating asset a wiser move than a depreciating one? Shit no, the only skiddies you can do in a house are the ones in your jocks and who likes them?

Gardening sucks ass...fresh air, fauna and natures little wonders meh!

Go the car Uleh, sitting on a bonnet beats a balcony any day ask anyone.

No I didn't vote!!@!!

Well said!

[R31Nismoid]

Actually, Andru, just ask your old man.

Im sure he'll be the one paying for it all like the car!

[eMsta]

I dunno... does your Jazz have a pod filter?

nah, but i make the phtish! myself......

[Russman]

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.

From my research houses doubling in 7-10 years is a trend "in high growth areas" since the 70's. Sure there will be lulls where the value doesn't go up but in the long run it will always go up. I was carefull where I bought mine. Lots of growth in south east queensland so I went for brisbane. 20 mins from CBD. It should be a good choice. Time will tell though.

[Modena]

nah, but i make the phtish! myself......

Seriously though, ur Jazz is a daily and R33 is a weekend right?

Also how far away is your house coming up? I think you said end of the year?

I just bought mine (settled) two weeks ago and its scary at first but then once you sort out your finances, rent a room or two out to friends/family/gf/bf... it all can be quiet good.

[nitestalkr]

Actually, Andru, just ask your old man.

Im sure he'll be the one paying for it all like the car!

why fuel the bullshit with your own 1 liners.. u should administer this thread like all the other useless ones..

and its a dumb question with no answer anyway because it depends on your personal situation too much..

ie/ i was about to buy a house as i had the deposit. I was single at the time so getting a loan meant cock in the arse. No reasonable financial suggestions were given on how i could get a loan with feasible repayments.. So i bought a car.. pleasure of driving said car is worth ~2-4k a year which accounts for depreciation, so i havent lost shit.

Also the point in living at home.. IMO this is when you COULD buy a car.. as long as u have a average/reasonable income you can piss money at home and when knuckling down you could save another house deposit in 18months..

Im 25.. live at home and owe NOTHING on my 34... i feel this is quite a good position to be in even with a depreciating asset as i would still be able to get $20k+ out of it when the time arrises. (of course i have savings aswell now)

Im sure others will disagree based on "life experience" or something similar. Life experience is good and all, but people who go around thinking that everyone should draw the same conclusions from there life experience are delusional.

PS. Andru talks some mad shit sometimes etc etc.. tho some of the shit written to him in this thread is appaling.. (i am willing to eat my words if he has done the same in other threads i havent seen)

Cheers,

Daniel

[Modena]

why fuel the bullshit with your own 1 liners.. u should administer this thread like all the other useless ones..

and its a dumb question with no answer anyway because it depends on your personal situation too much..

ie/ i was about to buy a house as i had the deposit. I was single at the time so getting a loan meant cock in the arse. No reasonable financial suggestions were given on how i could get a loan with feasible repayments.. So i bought a car.. pleasure of driving said car is worth ~2-4k a year which accounts for depreciation, so i havent lost shit.

Also the point in living at home.. IMO this is when you COULD buy a car.. as long as u have a average/reasonable income you can piss money at home and when knuckling down you could save another house deposit in 18months..

Im 25.. live at home and owe NOTHING on my 34... i feel this is quite a good position to be in even with a depreciating asset as i would still be able to get $20k+ out of it when the time arrises. (of course i have savings aswell now)

Im sure others will disagree based on "life experience" or something similar. Life experience is good and all, but people who go around thinking that everyone should draw the same conclusions from there life experience are delusional.

PS. Andru talks some mad shit sometimes etc etc.. tho some of the shit written to him in this thread is appaling.. (i am willing to eat my words if he has done the same in other threads i havent seen)

Cheers,

Daniel

When the regular petrol hits past $2 by the end of this year, your R34 will not be worth $20 K+... closer to 18-19 K... if you are patient enough and there are buyers looking for cars that druink premium unleaded (add 10 cents on top).

And yes you are right, some people can't afford to buy a house while working at Maccas, but they also should not own an expensive import if they knew what is good for their finance.

If I looked back 12 months ago, there is no way Id imagine Id be buying a house this year... it takes a lot of saving, patience, living below your means and letting go of "fun" things today in order to enjoy more of them tomorrow!

The problem with our society is that we want fun and we want it right now.

[SABBAi]

it's all down to one's priorities I guess. If you have the deposit, etc, then go for the house. You can always play cars later on. If that's what you're wanting to do, of course.

[nitestalkr]

When the regular petrol hits past $2 by the end of this year, your R34 will not be worth $20 K+... closer to 18-19 K... if you are patient enough and there are buyers looking for cars that druink premium unleaded (add 10 cents on top).

And yes you are right, some people can't afford to buy a house while working at Maccas, but they also should not own an expensive import if they knew what is good for their finance.

If I looked back 12 months ago, there is no way Id imagine Id be buying a house this year... it takes a lot of saving, patience, living below your means and letting go of "fun" things today in order to enjoy more of them tomorrow!

The problem with our society is that we want fun and we want it right now.

Petrol point is fair enough.

Also i see you have now narrowed this debate to 'expensive imports' only, so kudos to you..

I'm pretty sure u wouldn't fall below the poverty line working at Maccas (never worked there but ~$450PW sound fair?), living at home and buying a nice clean s13/'90 R32 that will sure to be a pleasure to drive if you are into import cars. Obviously i have bypassed a lot of other issues like insurance and P-plate regs, but you know what i mean. People need to keep in mind that this debate includes cheap imports with minimum mods that dont require $100 oil every 2500 ks.. Not everyone chews 4 sets of tires a year.. Essentially a nice s13 shouldnt cost anymore to run than ~70% of cars on the road.

So does that bring the poll to be PubTrans + House vs Car.. didnt think so.

I agree with the point that situations and attitudes change and a house could become a possibility at any stage, but the key is to have the foresight that if this does happen you are able to finance it. I am in this position at the moment IMO, and i did the car first. This is all i'm saying.

For everyones interest i am not officially voting in this poll.

Cheers,

Daniel

[shanusr33]

I've just brought a house this year too, and am working 4 jobs to pay the repayments on my own, and drive a SR Falcon as my daily and R33 weekender.

Ive been debating for weeks whether to sell the line to do renovations on the house and pay off some debt, but with the way things are i wont get what i want for my ride :-(

However, the conclusion i've come to is as follows:

If i were to sell the skyline now and pay off some debts and play with my house for a while, then i'll be better off short term but in 4 - 5 years time regretting it badly cause i haven't had the skyline to drive around and play with and i would have lost my hobby! ........

Whereas if I keep the 33, and struggle and live without the extras for the moment and save hard, then in 4 - 5 years time i would have got that money i wanted years ago (now) and all along kept my baby :-)

To answer the original question, people have made great points and i agree and voted 'house' as it'll only be worth more in time

[Medium Dave]

A few years ago I had the oportunity to buy a house - I didnt and bought a skyline. A mate of mine was in the same position, he bought the house, fast forward a few years, he owns 2 houses, owned a 33gts, 33gtst, 33gtr, now has a 350z. I have finally bought a small house with my wife, and what do I drive? an automatic falcon wagon...

Buy the house.

[Modena]

I've just brought a house this year too, and am working 4 jobs to pay the repayments on my own, and drive a SR Falcon as my daily and R33 weekender.

Ive been debating for weeks whether to sell the line to do renovations on the house and pay off some debt, but with the way things are i wont get what i want for my ride :-(

However, the conclusion i've come to is as follows:

If i were to sell the skyline now and pay off some debts and play with my house for a while, then i'll be better off short term but in 4 - 5 years time regretting it badly cause i haven't had the skyline to drive around and play with and i would have lost my hobby! ........

Whereas if I keep the 33, and struggle and live without the extras for the moment and save hard, then in 4 - 5 years time i would have got that money i wanted years ago (now) and all along kept my baby :-)

To answer the original question, people have made great points and i agree and voted 'house' as it'll only be worth more in time

Keep in mind that in 1-2 years time you will be able to pick up clean and well looked after Skylines and other sports cars for much cheaper. With the way it is all going, there will be an influx of sports car sales (already v8s are impossible to sell)

and you will have a choice which one to get...

So if you sell your R33 now for say 13 K, you will be able to pick a better one for around 10 K in a years time if not sooner.

Hey I sometimes wish I had my Skyline still, but then I cringe of the thought of selling her for half the price...

[Modena]

A few years ago I had the oportunity to buy a house - I didnt and bought a skyline. A mate of mine was in the same position, he bought the house, fast forward a few years, he owns 2 houses, owned a 33gts, 33gtst, 33gtr, now has a 350z. I have finally bought a small house with my wife, and what do I drive? an automatic falcon wagon...

Buy the house.

lol... sorry for laughing but thats exactly what we are talking about.

Fun now = poor future.

Fun later = good future.

[(OO)SKYLINE(OO)]

im going to be 27 and still with my parents....does that make me a hoon?

WTFing HELL?! I thought you were 22 or 23?

Crazy! LOL!

I guess this tread is based on you own situation, if you can afford Skyline and House then go ahead.

If you can only aford a house and no Skyline then bite the bullet and go for the house. Your going to need one later on anyway.

If your still at home and saving up as much as possible, to be able to fund your Skyline and get a house, I see that as also good, no harm in that.

[Modena]

...

If your still at home and saving up as much as possible, to be able to fund your Skyline and get a house, I see that as also good, no harm in that.

I would loved to live at home still... Im 28 lol Id have a Skyline (or even a better car), a house (live there for 6 months, get the first home buyers then move back home) and Id be saving to go travelling around the world...

Too bad for me, my folks moved interstate when I was only 22 yo so since then I had to manage on my own and save for everything alone which is great but can be tough.

If you can still live at home, buy that house, get the FHOG and then rent it out.

Edited July 10, 2008 by Modena

[eMsta]

Seriously though, ur Jazz is a daily and R33 is a weekend right?

Also how far away is your house coming up? I think you said end of the year?

I just bought mine (settled) two weeks ago and its scary at first but then once you sort out your finances, rent a room or two out to friends/family/gf/bf... it all can be quiet good.

yeah jazz is a daily, r33 is weekend, and i still save about $200 a week

i have changed the plans a bit at hte moment, cos im no where near getting married, i figure i plan to get my business up and running

[Mayuri Krab]

Depends on your situation I guess. For me its the line & a computer is all I need.

21, still with my parents (& my grandma too ) , I cbb to move out (although if I do & declare independence, I can get $ from center link...) & they don't want me to neither (they don't trust me living in a shared house).

So when I finish uni & get a proper job (hopefully), I'll just pay them $ & buy my room, & when they build the new house (they have already bought a new block of land up north), I'll just buy this current house from them hopefully @ a very "discounted" price

For me, I'm happy just buying this current house from my parents when they move to the new house, as this current house is plenty for me already.

All the rest of the $ can go to getting some better cars & coms.