Decision time: Car or house?

[koukimatt]

I'm trying to make some tough decisions, and I want some constructive input from anyone who has been down this road before.

I have a '98 240SX that I bought locally a few years ago. It was stock, had a few dings but otherwise ran fine. Shortly after I got it, I got my uncle (tech at a body shop) to help me fix the bodywork and repaint it a different color (I didn't like the original green). It's good paint but a quick and dirty paintjob... not as bad as Maaco but not a rotisserie paintjob either. I have also replaced most of the suspension: SPL control arms, Koni shocks and a Ground Control coilover kit.

I still live with my folks for the moment and there isn't space in the family garage for my car, so it gets parked on the street. The 240 is my daily driver -- I have a fair commute and I don't have another car; there is no place to put one. Road grit, tar, bird droppings and rock chips are all taking their toll on the paint job. The suspension is uncomfortably stiff for the crappy roads I'm on every day. The car as a whole feels shaky, and I hear lots of little squeaks and rattles that weren't there when I first purchased the car. To summarize: I have gotten more and more unhappy with the car, or rather my ownership of the car, since I started modifying it. These things may not be a big deal for other people but they really bother me.

The main issue is money. If I was rolling in cash, I would have my own place, my own garage, and another car so I could make the 240 a real project. I would probably do an engine swap of some kind, an RB25 or possibly a VH45, and have some experienced mechanics help me out; and I would have the paint and body professionally restored.

With the money I have saved over the past few years, I might be able to do an engine swap and to get the exterior fixed up, but I would still be stuck with the original situation: no garage and no daily driver.

The other option I have is I could sell the car, and make a down payment on a house with a garage; and hope that I can save up enough money to get another project car in the future.

I also might be able to keep the car and get a house, but the car would get mothballed indefinitely until I had the funds to work on it again -- possibly years, depending on my luck with schools and jobs.

The 1998 240SX is a pretty rare car; there were only 1200 or so sold in the USA. I feel like I have done a disservice to the car by not taking better care of it, considering how rare it is, and I don't want to screw it up any more out of my inexperience or abuse. Right now I think the best thing that could happen to the car would be for me to sell it to someone with more resources and more dedication, but I don't know if I'm ready to give up just yet.

So for those of you who have already been in this situation: What did you decide, and how did you make your decision? How did everything work out? Would you have done things differently if you had another chance?

Finally, do I have any other options?

Thanks for your help.

[HalveBlue]

House.

/Thread

[cc4usmc]

House.

/Thread

[I10cruiser]

house . ..

[Ithical]

house, it's a buyer's market time..

[BustedS13]

i just bought a house. my payment is less than rent was on a two bedroom shithole. my 240 is parked in a basement/garage/living room fun zone, ripped apart and waiting for me to work on it whenever i feel like it, because my parents don't need to park there.
seriously living with your parents is super gay, get a house

[crazyikimasho]

I just read the title and the fact you have to ask is... well... yeah.

Come on.

House = appreciation, equity, etc etc
Car = depreciation, waste of money, etc

[theronin]

i cant believe you even had to ask.

[vin diesel]

house and get a dirt cheap s13

[sub9lulu]

house and get a dirt cheap s13

vin diesel tellin the truf

[Phlip]

Buy a foreclosed house closer to wherever you're commuting to.

[lucky7]

i didnt read your post, but going off the thread title. you'd be a dunce not to buy a house with this market.

[exitspeed]

Buy a foreclosed house closer to wherever you're commuting to.

If you go this route be prepared to get handy at home remodeling.

People think that buying foreclosed homes is the way to go all the time. In fact a LOT of foreclosed homes are trashed and stripped of a lot of things before the people leave. If you're handy and don't mind working your ass off to turn a shit hole into a livable place it's a good route to go.

Trust me my wife see's these homes on a regular basis. A lot of her buyers will start off looking at foreclosed homes and sometimes after looking at just a couple they realize it's not for them.

[Homer_Simpson]

I just read the title and the fact you have to ask is... well... yeah.

Come on.

House = appreciation, equity, etc etc
Car = depreciation, waste of money, etc

Like he said. The hell with the stupid car, I would rather have a house.

[98s14inaz]

Remember...you can live in your car but you can't drive your house to work.

[stiizy]

House!!!!!!!!!!!!!!!!

[Phlip]

Remember...you can live in your car but you can't drive your house to work.

He could open a brothel out of his house.

[ravinaziankid]

Definitely a house. A car can always wait, especially in this economy, if you have excellent credit and 15-20% down payment for a house you should jump on it. With the mortgage rates so low why would anyone even consider buying a car if they need a home.

[98s14inaz]

He could open a brothel out of his house.

Touche lol. In all seriousness...get the house. I did and eventually got another car. Nothing beats working on your car in your garage.

[imotion s14]

appreciation, equity, etc etc

Not in this market, housing prices are still sliding. We don't know the true market prices of houses because the government is attempting to keep prices artificially high.

If you're OK with the fact that your house will fall in value, go ahead.

The sub-prime is only the tip of the iceberg. The prime rates are starting to reset this year. Prime rate mortgages default rates are already climbing fast. When it does reset, look out because it's going to be a 2nd wave of foreclosure that will make the sub-prime mess look like ripple.

[Andrew @ 240sxMotoring]

You're gonna make so much $$ off a house in the long run. I say car. :p

[Jorge18]

I seriously can't believe your even asking this.

This has got to be the easiest decision EVAR.

[imotion s14]

You're gonna make so much $$ off a house in the long run. I say car. :p

Please don't take this personally.. or accidentally lose my next order.. ;)

But that is not sound financial advise. A house shouldn't be looked at as wealth. True wealth is when the asset produces something. This is exactly what caused the housing bubble to inflate and then collapse on itself. People thought their houses were the source of their wealth and that asset prices would rise indefinitely. As everyone knows by now that's not the case.

Housing prices are going hit the bottom, when that is no one really knos, but housing prices are going to be flat.. for a very long time.

[FaLKoN240]

I would just get a house.

Fuck a car.

Seriously.

Buy house, make that your project, its more impressive to the ladies I would think.

Plus houses don't have oil and shit that is gross.

[YoungGun]

I didn't even read the first post.

HOUSE!

[fkaB18C5MK1]

keep milking it off mom & dad. you're 23. keep your nissan and get a beater for your daily. how's your financial situation? i skimmed through your post a bit. if you sell the 240 and put money down on a house, how will you get to work? is your job stable? you havent finished school? mortgage debt + school loans = no beuno. while i agree with everyone, it is a buyers market right now, but that's mostly for those buying as investment property, imo. in the mean time, keep milking it at home and get a car cover for your 240 or get a portable garage:

http://www.cartent.co.uk/art/medium-portable-garage.jpg

[slider2828]

Do it this way... try to get a 2 bedroom house. Sell the car, and rent out one of the rooms. You get equity and income, when you get close, you can maybe use a line of credit for the car off the equity, just something small....

it would be best if the rent cover 80% of the mortgage and you are set!

[fkaB18C5MK1]

Do it this way... try to get a 2 bedroom house. Sell the car, and rent out one of the rooms. You get equity and income, when you get close, you can maybe use a line of credit for the car off the equity, just something small....

it would be best if the rent cover 80% of the mortgage and you are set!

i fully agree. multiple rooms + rent them out.

[shishcabobers]

House, so then eventually you can do and have whatever car you want.

[mrmephistopheles]

http://img265.imageshack.us/img265/8664/0041p48axk3.jpg (http://imageshack.us)

[Gnnr]

House with Garage.

Done.

[napaKAliboog]

People think that buying foreclosed homes is the way to go all the time. In fact a LOT of foreclosed homes are trashed and stripped of a lot of things before the people leave.

That the whole point! a house that's messed up but is at least buildable is perfect!
if the paint is janky..get it repainted for 300$ from some mexicans at homedepot (I would do it myself its cheaper) and show the bank now ur value goes up a little, BUT the bank will also give you a few tousand (just for 300$ paint)for raising the value of ur house. Save that money now order a 500$ garage throw that up go tot he bank ur value goes up plus they give you even more money for a garage, save that money and then do the same thing with a bathroom (they usually give you a grip more for a bathroom value is super good also) save allt he money from the bathroom NOW YOU HAVE A GRIP OF SAVED MONEY TO GO AND DO IT TO ANOTHER HOUSE...and bam u got 2 properties now use one to rent out or 2 if you want and stay in ur apt and BAM ull be balling as fuck cuz u got 2 incomes comming in and 2 values just sitting there waiting for the house wave to fuck its self in the ass till it goes back up again u can say fuck it i dont care about the wave because your getting income and shit u own 2 HOUSES hell you can even build a duplex with oen of em and rent it out some more. and so on blah blah..it wont even matter if the housing bus. is fucked up because no matter what its all cyclical.

[240love]

house please ..........

[ROUGE180]

House with Garage.

Done.

DONE AND DONE!!!! You could always live in your car though lol

[JayDee M Rolly]

http://img265.imageshack.us/img265/8664/0041p48axk3.jpg (http://imageshack.us)
agreed. :aw:

[ALTRNTV]

She's cheating on you. Oh wait... go for the house.

[Om1kron]

lol you can get a house in texas for a cup of piss... as opposed to fixing up a 240 inflation is a motherfucker...

trust me, you sell the 240 you wont buy another one.

you'll have a nice house you don't want to fuck up and you will buy a daily driver to pay for your house granted you don;t lose your job and then your house like every other american that's losing their house right now. Or banks adjusting loan interest rates on non rate locked loans.

The housing game is shady as fuck homeslice, id rent a nice townhome or condo with disposable income imo. I don't want the responsibility of a house, mowing my lawn, hoa, water bill to water grass, decorating it, upkeeping pipes, plumbing, tornadoes, earthquakes, birdnests.

fuck all of that stress. There is a reason I have no kids and wont have any kids. Buying a house is a huuuuuuuuuge ass responsibility and you gotta pay taxes and shit just to own it. On top of the taxes you already pay our broke ass government.

Now is not the time in life to be making decisions like this, some people really don't think when they move into a house how stable is my job to pay this mortgage for the next 30 years of my life, they even have 60 year mortgages which is ridiculous and retarded.

it's a rough spot.

but texas, shiet whats a house out there like 90g's I could do that no problem... california houses still are in the 4-500k range in an area I want to live and there are so many places for rent WITH GARAGES for like 900-1200 dollars that I can move out of if I dont like my neighbors... unlike my parents house where we couldn't move because we hated our fucking neighbors. stupid ass trash trailer motherfuckers with a meth lab in their garage, breaking into the cars around the block trying to steal the stereo's out of them

anyway i'm ranting. don't make life decisions based off what people on the internet tell you. Otherwise you have a shitty and bumpy ass road of life ahead of you since you're so akin to influence from others.

[ericcastro]

Its a fucking car.
who cares.
Buy a house
go to school
make some money
and if you still want, buy ten of the fucking things.

There is absolutely now reason for you to own a 240 if your not using it for some form of motorsports.
The fucking gas milage aint great. their not the best looking cars. they attract alot of the wrong attention. their thief magnets. Its a "sports car" according to insurence.

people that act like the 240 is some sort of Jem need their fucking heads checked!!!!

[luckvx]

house son why would you ask

[napaKAliboog]

I GOT 2 AND IM 22 selling one of my 240s the economy is bad? maybe it's all the dumb asses who listened to all the shady ass loan officers getting them into minimum payments...

[BustedS13]

if you're a day over 22 you shouldn't be living with your parents. unless they're terminally ill. or you're terminally ill. or you're italian, i guess.

[exitspeed]

That the whole point! a house that's messed up but is at least buildable is perfect!
if the paint is janky..get it repainted for 300$ from some mexicans at homedepot (I would do it myself its cheaper) and show the bank now ur value goes up a little, BUT the bank will also give you a few tousand (just for 300$ paint)for raising the value of ur house. Save that money now order a 500$ garage throw that up go tot he bank ur value goes up plus they give you even more money for a garage, save that money and then do the same thing with a bathroom (they usually give you a grip more for a bathroom value is super good also) save allt he money from the bathroom NOW YOU HAVE A GRIP OF SAVED MONEY TO GO AND DO IT TO ANOTHER HOUSE...and bam u got 2 properties now use one to rent out or 2 if you want and stay in ur apt and BAM ull be balling as fuck cuz u got 2 incomes comming in and 2 values just sitting there waiting for the house wave to fuck its self in the ass till it goes back up again u can say fuck it i dont care about the wave because your getting income and shit u own 2 HOUSES hell you can even build a duplex with oen of em and rent it out some more. and so on blah blah..it wont even matter if the housing bus. is fucked up because no matter what its all cyclical.

You don't know what you are talking about. Close, but no cigar. The "bank" doesn't give you money when you increase the value of your house. it doesn't work that way. I'd have $100,000+ in my bank account right now if that was the case. You don't get your money back on your investment until you SELL. Sure you can take out home equity loans or second mortgages but you still owe that money back to them.

[BustedS13]

You don't know what you are talking about. Close, but no cigar. The "bank" doesn't give you money when you increase the value of your house. it doesn't work that way. I'd have $100,000+ in my bank account right now if that was the case. You don't get your money back on your investment until you SELL. Sure you can take out home equity loans or second mortgages but you still owe that money back to them.

yup. you don't get free rewards for working on your house. if you did i'd have like twenty houses

....the government, however, will give you 10% of your home's value up to 100k in a tax refund, that you repay at 400/yr. can't wait to get my refund check this year.

[exitspeed]

yup. you don't get free rewards for working on your house. if you did i'd have like twenty houses

....the government, however, will give you 10% of your home's value up to 100k in a tax refund, that you repay at 400/yr. can't wait to get my refund check this year.

Wait, what? I've never heard of this and my wife is a realtor.

[BustedS13]

Wait, what? I've never heard of this and my wife is a realtor.

first time home buyer's tax credit. it's actually only up to 10% of 75k, so 7500 max.

Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions (http://www.federalhousingtaxcredit.com/faq.php)

[exitspeed]

first time home buyer's tax credit. it's actually only up to 10% of 75k, so 7500 max.

Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions (http://www.federalhousingtaxcredit.com/faq.php)

Oh, yea. That I knew about. She tells all of her buyers about it.

I thought you meant for all home owners. We've had our home for 3 years. No money for us.

[jdm538]

buy a house that would be a smarter investment.

[BOROSUN]

if your still going to school stay with your parents. but, save your money.



unless your ballin or your parents are ballers can get you a house.

[lolatclint]

CAR!! ITS A HOUSE TOO!. i live in mine. s13<3

[usdm180sx]

House.

/Thread

[imotion s14]

why is everyone recommending a house? Shit is a serious financial commitment and the market is too volatile. You guys not watching the dismal housing market? It's going to lose value, the market hasn't reach a bottom yet, no one knows where the bottom is.

Save your money, keep your car and get ready for some rough times.

[BustedS13]

why is everyone recommending a house? Shit is a serious financial commitment and the market is too volatile. You guys not watching the dismal housing market? It's going to lose value, the market hasn't reach a bottom yet, no one knows where the bottom is.

Save your money, keep your car and get ready for some rough times.


now is the absolute best time to buy a house. people are scared to do it, like you. i bought my house for about 60% of its value.

living with your parents is gay, and renting is just burning money. you can sell a house, you don't have to live there forever.

plus you can get an mp3 doorbell that plays Thunderstruck.

[usdm180sx]

why is everyone recommending a house? Shit is a serious financial commitment and the market is too volatile. You guys not watching the dismal housing market? It's going to lose value, the market hasn't reach a bottom yet, no one knows where the bottom is.

Save your money, keep your car and get ready for some rough times.

Because homes are cheap now and when the market comes back you will gain equity. If you sell when you have equity you will make money. It's not rocket science.

I encourage you to do more research on real estate. It will do you good.

[drift freaq]

Because homes are cheap now and when the market comes back you will gain equity. If you sell when you have equity you will make money. It's not rocket science.

I encourage you to do more research on real estate. It will do you good.

This man knows what he is talking about. Oh and Prime resets are not going to be a problem because most of the Prime's got fixed rate they did not take chances on Variable. The ones that will be a problem are the Jumbo's because most people that took Jumbo's could afford a 400k house but could not afford a $500k and up house but took it because they banked on the equity like the sub primes did. Thing is this is not going to be as rough because there are less Jumbo's than sub primes. In the end in another 6-8 months we will see the bottom. Things will be stagnant for a few years but eventually values will increase just not at the rates we have seen in the last 10 years.

What people need to realize is you take a 30 year fixed rate you buy your house planning on living in it for years not trying to flip it in 5-10 years to make money.

Anyways I say House as well. Unless you have special circumstances. Otherwise House it is.

[imotion s14]

now is the absolute best time to buy a house. people are scared to do it, like you. i bought my house for about 60% of its value.

and it's going to keep dropping. The teaser rates for prime mortgages are resetting this year and the next wave of home foreclosures is going to create an avalanche that makes the subprime look like a ripple. That's going to create excessive inventory of houses and it's going to drive down home prices even further.

and renting is just burning money.

+

Because homes are cheap now and when the market comes back you will gain equity. If you sell when you have equity you will make money. It's not rocket science.

a home mortgage is at least twice the cost of renting. That's not even including maintenance cost, property tax, school tax.

I can take all that money I saved not buying a home and buy stocks that pay good dividends and will outperform any equity you can build up in the next 30 years.

And when you sell your house? Where are you gonna live? :squint:

The market isn't coming back. The housing bubble is done.

I encourage you to do more research on real estate. It will do you good.

k.

[imotion s14]

This man knows what he is talking about. Oh and Prime resets are not going to be a problem because most of the Prime's got fixed rate they did not take chances on Variable.

Fixed rate or not doesn't changed the fact that a lot of people are underwater on their loans. The figures I've seen shows prime rate mortgage defaults still rising. When the teaser rates end for the prime, there is going to be a second, bigger wave of foreclosure with Alt-A and Prime loans.

In the end in another 6-8 months we will see the bottom. Things will be stagnant for a few years but eventually values will increase just not at the rates we have seen in the last 10 years.

lol. try the next decade. Housing prices are gonna be flat for a long long time.

[usdm180sx]

The market isn't coming back. The housing bubble is done.

Your opinion is not true, especially for people who have lived through a down real estate market. Even if you buy now and prices still decline they will go back up and your home will have equity. In the meantime enjoy living in your home. The key is to get in as low as possible. Now is the best time to buy.

[BustedS13]

and it's going to keep dropping. The teaser rates for prime mortgages are resetting this year and the next wave of home foreclosures is going to create an avalanche that makes the subprime look like a ripple. That's going to create excessive inventory of houses and it's going to drive down home prices even further.



+



a home mortgage is at least twice the cost of renting. That's not even including maintenance cost, property tax, school tax.

I can take all that money I saved not buying a home and buy stocks that pay good dividends and will outperform any equity you can build up in the next 30 years.

And when you sell your house? Where are you gonna live? :squint:

The market isn't coming back. The housing bubble is done.



k.


i own a house. i'm in it right now. i was in a two bedroom apartment for $595/month. my monthly payment on this house is $587/mo. that's with a ~8% fixed interest 30 year loan with 20% down. if you have enormous balls and go with a variable loan, it would be cheaper still.

i have a back yard, a garage, walls that aren't shared. if it was more than rent, it would still be well worth it.

i bought this house for $65000. you are NOT going to find a house much cheaper than that in a decent location, anywhere, EVER. it doesn't matter if the market is still sliding. i'd imagine most of that slide is confined to mcmansions

and now i'm getting a 6500 dollar interest free loan from the government, 4500 of which is going into home improvement. we will sell this house for much, much more than we put in, in a couple years. until then, it's dirt cheap living.

....and the stock market is a fucking horror show right now, i love messing with penny stock and it's been hell keeping myself away from my scottrade account. but i know too many people who are losing too much on investments they've made in the last couple months.

[dynamicck]

If you said that you're tired of your S14, then sell it.

Dont believe in this home investment. buy it for yourself. Who knows if the market goes down, stays the same, or goes up. It's no different then gambling...if it was a no brainer, why arent more people doing it?

Remember...this is YOUR money, dont believe in the hype.

[BustedS13]

if it was a no brainer, why arent more people doing it?

-everybody has bad credit
-everybody is afraid of commitment, even though there's not really much more than an apartment lease
-nobody has balls

now may not be the time to buy a million dollar home, but it's a great time for cheap shit like this dump

[lflkajfj12123]

plus you can get an mp3 doorbell that plays Thunderstruck.

best thing i read in this whole thread

busted where are the pics of your dump

[ESmorz]

BOAT

http://i.ehow.com/images/GlobalPhoto/Articles/2227192/Sailboat-1-main_Full.jpg

[BustedS13]

best thing i read in this whole thread

busted where are the pics of your dump

i'll take some pics of it specifically for this stupid thread tomorrow if i wake up before i have to go to work. if not sunday i'm off, then snaps.


SOUND OF THE DRUMSSSS

[Zacho]

I had a physics teacher that once told me "You can sleep in your car, but you can't drive your house to work". Haha, true but I think you should go for the house.

[napaKAliboog]

The best thread I love u guys except the people who don't know what cyclical means

[Akiros]

Keep the 240 at daily status and get a house.
If you have to sell your precious 11 year old car in order to be able to get a house, chances are that you aren't in the financial position to buy a house.

Go to school, get a job, THEN get a house if above = true;

[TheRealNighthog]

A home is always a good investment. A car is a money pit where most of the time you dont even break even.

[BustedS13]

here's my horrible investment what was i thinking the market is still dropping oh my god how could i have spent money on a place to live

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/1232915791392.jpg
you can barely see the snowman here. he has been painted black and orange and holds a little sign that says "no hope". his name is Downer the Depressed Snowman. in summer he will be replaced by a robot with a waving arm that we will place dangerously close to the street. i need to get some stakes so i can put Downer in the yard without him falling over.

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/1232915825184.jpg

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/1232915890155.jpg
here's the back, derr. "tuck under" garage.

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143247.jpg
this is where i play Dreamcast and n64

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143320.jpg
the left is a cocktail Pong machine, the right speaks for itself

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143355.jpg

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143421.jpg
kitchen remodel coming spring '09. new tile floor, new countertop, new glass in the cabinets, new drywall ceiling to replace the retarded drop ceiling, better lighting including under-cabinet led lighting, paint, and a low profile ceiling fan.

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143449.jpg
hallway. currently sanding it down. we did the same to the roommate's bedroom floor, which was linoleum when we moved in. you can see the roommate's room through here.

http://i89.photobucket.com/albums/k216/nerfdude/the%20fort/20090125143511.jpg
bathroom remodel coming spring/summer '09, including all new drywall, storage, medicine cabinet, shower, faucets, a higher window, and vent.

http://i89.photobucket.com/albums/k216/nerfdude/20090105242034.jpg
the man zone, under construction.


there's also an upstairs and more basement but i don't have pics. also i somehow managed not to take a picture of my room, which is on the other side of the fish tank. the back yard is also pretty big and ends in a creek. we're putting in a deck this spring.

[steve shadows]

]House.

/Thread

[BustedS13]

i see how it is

[Akiros]

busteds13, your pad rocks, I need to get my fishtank up and running.

I want a garage/manzone SO fucking bad. Carport at our new renthouse is better than apt lving though.

[Ceepo]

House, place to live and you can always get a car later, its a buyers market right now just get somewhere with a garage, garage is a must have for houses :)

[lflkajfj12123]

looks like quite a deal busted

man zone is awesome

[BustedS13]

that's right
love me

[ONYX S-13]

You guys that are telling him about houses instead are totally right. Really though. it's not about a house and/or a car at this time.. Right now it's all about your employment.

You DO NOT want to go through the whole process of getting a home and then loosing a job and then falling behind on payments and loosing the house.. Then you will have no car,house, or job..

In times like this it's best to stay in school if that's what you're already doing and build that edjucation when the job market is only getting worse. If you leave school now it'll be harder to get a job and you're "qualifications" will not be uilt up as much as it would if you get out of school when the Job market has been on the rebound for a decent amount of time (at least a year on the rise)..

So to answer the original question of the threat NEITHER..

Sell the car you have and get a confortable commuter/beater for like 1,500 and take that to work and school. Continue to save save save save save and even invest (buy shares when they are down and you can afford then) then when it's time to get out of school you should have a substantial amount save/invested to start your life away from home.. :2c: :hide:

[Gnnr]

^ I don't agree. Buy low sell high. That's what true investors do. You can't be afraid to take a big risk. Its a buyers market IMO.

[alindeman1989]

one word. Houseboat. lol

[BustedS13]

^ I don't agree. Buy low sell high. That's what true investors do. You can't be afraid to take a big risk. Its a buyers market IMO.

preach

with as much media attention as the housing crisis is getting, you need to find a foreclosure NOW and lock it in. if you wait much longer you're going to miss the boat. life is like the fashion thread, but with things that actually matter

[ONYX S-13]

True but if he looses a job (which huge corporations are falling like flies now a days) then all that money/time will be wasted and it'll ruin his credit before he even had a chance to establish it. No one is safe from this financial hit.

Places like comp USA, Circuit city, Home Depot (expo centers), Lowes, Big name car manufacturers that have been around as long as i can remember are going under or cutting back a ridiculous amount.. A house will do nothing for you right now without a Job.

If you have the cash and you're set (from your own personal funds not a job) then yes buy now and sell later and reap the benefits but if things are not "set in stone" for you financially speaking for a while then it's a risk since your source of income can come and go in a blink of an eye in this market.

Finish the education when the Job market is weak then when you get out when the market starts getting better you can find something a little more stable and still find a place to live for a really decent price still.

Or The other thing is get a house with some buddies and just share the cost of everything. That way if something happens you can still afford your payments if you did loose a job and have to find something lame that doesn't pay decent.

[BustedS13]

Or The other thing is get a house with some buddies and just share the cost of everything. That way if something happens you can still afford your payments if you did loose a job and have to find something lame that doesn't pay decent.

ding. i split my house and could afford to pay my half delivering pizza if i lost my job.

[BOROSUN]

but, this kid has to find reliable ppl before committing buying any house.

not only that the finding the right house can be tedious...a decent place where you dont get jackd or get shot or crazy annoying neighbors or roomate banging your gf or later discover it's a rotting house of hell (rats,ants,roaches,spiders,aliens,evil spirits,evil dimensional port holes,constant repair,flooding,leaks,clogged pipes,backs up septic tanks,dead water heater, cracks,broken/rattling windows/doors,the heater unit is so old that its emitting CO and you dont know it, broken sprinkler and now your lawn is a swamp,lead,molds,fungus,decomposing support structures, bills,etc).

add termites... ofmg thats a killer.

[napaKAliboog]

You know what i think... let the people be scared it's better for us

[BustedS13]

add termites... ofmg thats a killer.

you should see this house i wanted to buy. this beautiful two story century home. but there wasn't a right angle in the place. i went into the basement and pushed a screwdriver through one of the support beams like a knife through butter. sucks, that house will almost definitely get torn down.... it was built in like 1902 :/

[Erjay1]

You seriously came on to a car forum and asked if you should buy a car or a house?? Wow. :rolleyes:

[BustedS13]

You seriously came on to a car forum and asked if you should buy a car or a house?? Wow. :rolleyes:

i think it says something that the majority of us on this car forum are saying he should buy a house