Discussion
Well, the house sale is taking longer than I expected, but I've got my eye on a few places to buy after I've sold.
BUT I've realised that if I combine the mortgage repayments I want to make with the car loan repayments I'd make for the Elise, I can get a fantastic house (4 bed detatched with big garage, couple of out buildings & a fair bit of ground).
This leaves me with something of a dilemma, and whilst this is probably the worst place I could post this for balanced and unbiased opinions, I think I need convincing of what I want to hear...
Option 1: I get a big house and keep the current shed for 3-5 years, then remortgage and get an Elise.
Option 2: I get a less prestigious property and the Elise 111S as soon as I can move, upgrading to a Honda SC engine in 3-5 years.
Option 3: Get a smaller, more rundown house (but with a garage / space for a garage) and do the work on it, then spend all the extra cash on a new Exige 220S, or (in my dreams) one of 07 Esprit/Noble M12/Marcos TSO?
What do you think guys?
BUT I've realised that if I combine the mortgage repayments I want to make with the car loan repayments I'd make for the Elise, I can get a fantastic house (4 bed detatched with big garage, couple of out buildings & a fair bit of ground).
This leaves me with something of a dilemma, and whilst this is probably the worst place I could post this for balanced and unbiased opinions, I think I need convincing of what I want to hear...
Option 1: I get a big house and keep the current shed for 3-5 years, then remortgage and get an Elise.
Option 2: I get a less prestigious property and the Elise 111S as soon as I can move, upgrading to a Honda SC engine in 3-5 years.
Option 3: Get a smaller, more rundown house (but with a garage / space for a garage) and do the work on it, then spend all the extra cash on a new Exige 220S, or (in my dreams) one of 07 Esprit/Noble M12/Marcos TSO?
What do you think guys?
Good to see you back Dave. I hope things are settling down for you.
Personally, if you can get a 4 bedded detached house, do so. That could be your property needs sorted for a very long time. An annual bonus or so and your elise may still come along faster than you think. Besides, the prices of elises seem to be ever dropping.
You can always do a bit of garage tinkering and join the rest of us mob on days out.
Cheers
Andrew
Personally, if you can get a 4 bedded detached house, do so. That could be your property needs sorted for a very long time. An annual bonus or so and your elise may still come along faster than you think. Besides, the prices of elises seem to be ever dropping.
You can always do a bit of garage tinkering and join the rest of us mob on days out.
Cheers
Andrew
Definately option 2 for me. It totally depends on your priorities in life. I know through bitter experience with my last car that if I'm not driving a good car I'm not happy, and 3-5 years without a good car is a huge amount of time! However, I have lived in a bad area before and that was pretty miserable as well, being threatened with knifes and being burgled etc!
The thing with option 1 or 3 is that big houses and Nobles can cost a lot to run, and don't necessarily give proportionally more enjoyment than a small house or a lesser car (like an Elise) does.
The thing with option 1 or 3 is that big houses and Nobles can cost a lot to run, and don't necessarily give proportionally more enjoyment than a small house or a lesser car (like an Elise) does.
I still think that is isn't sensible to mortage yourself up to the eyeballs and not be able to afford to enjoy your life. I don't mean going silly with money, but having a decent quality of life. Definately option 2 for me, though I wouldn't be scared to go a bit over budget and save for the 111S.
In my opinion life is about being happy, and therefore you need to assess what makes you happy. In doing this, you must look at your entire life, not just now (so blowing all your savings and equity on a brand new Ferrari is not a wise plan!). Everyone is different when it comes to this, but personally, I need a comfortable and clean place to live in a decent area, a car that I enjoy driving, and enough money to eat decent food and replace things like televisions and guitars when they wear out. For sure, houses are a safer place to put your money than cars, but what's the point in constricting your own personal happiness for the next 10-20 years (or however long you have left on your mortage) to live in a cavenous house just because it is 'bigger'? That's just my opinion for my life of course, you need to work out what's important to you.
RobM77 said:
Definately option 2 for me. It totally depends on your priorities in life. I know through bitter experience with my last car that if I'm not driving a good car I'm not happy, and 3-5 years without a good car is a huge amount of time! However, I have lived in a bad area before and that was pretty miserable as well, being threatened with knifes and being burgled etc!
The thing with option 1 or 3 is that big houses and Nobles can cost a lot to run, and don't necessarily give proportionally more enjoyment than a small house or a lesser car (like an Elise) does.
Totally agee with ya Rob, seems best of both worlds.
I spent all my money on the house for two years, but ran around in a Renault ClioSport. Could have moved onto to somewhere bigger by now but happy that I don't every time I get the Elise out.
Sometimes its nice not to always want the next big thing (whether thats a car or a house) and appreciate what you've got.
Lifes too short, you only live once, blah blah blah...
Fats
Cheers guys, I have to say you haven't made it easier, though the lack of talk about option 3 seems to rule that out.
I'm moving as I've split up with my ex, and she can't afford to buy me out of the house & take on the mortgage on her own, so we're selling up and I'm moving about one-hour-twenty and four-grand-a-year closer to work (I currently spend about 5 hours a day and 7 grand a year traveling to and from work).
The idea is to get a house close enough to the train station that I can walk or cycle. The car would then be used just for SDP and on the track. However, unlike fish I need to keep dry and have at least the option of a roof
My head says option 1 for the obvious reasons of returns on ivestment, but as I'm living on my own, will I really need all that space? Then again the local ladies will hopefully be saying 'ooo there's that bloke what lives on his own in that big house and works in London. He must be rich! Lets try and get into bed with him / throw our attractive daughters at him / throw a big party in his hounor / etc'
Option 3 would be fun; but I epxect it's only fun now, if I bought an older house and did it up, I'm sure it would stop being fun very quickly! There's also the risk of over spending or getting my budget wrong and ending up with not much money for that more exotic car.
Option 2 was my original thought, and I feel I may stick with it ... maybe.
>> Edited by jitsukadave on Friday 17th March 09:42
I'm moving as I've split up with my ex, and she can't afford to buy me out of the house & take on the mortgage on her own, so we're selling up and I'm moving about one-hour-twenty and four-grand-a-year closer to work (I currently spend about 5 hours a day and 7 grand a year traveling to and from work).
The idea is to get a house close enough to the train station that I can walk or cycle. The car would then be used just for SDP and on the track. However, unlike fish I need to keep dry and have at least the option of a roof
My head says option 1 for the obvious reasons of returns on ivestment, but as I'm living on my own, will I really need all that space? Then again the local ladies will hopefully be saying 'ooo there's that bloke what lives on his own in that big house and works in London. He must be rich! Lets try and get into bed with him / throw our attractive daughters at him / throw a big party in his hounor / etc'
Option 3 would be fun; but I epxect it's only fun now, if I bought an older house and did it up, I'm sure it would stop being fun very quickly! There's also the risk of over spending or getting my budget wrong and ending up with not much money for that more exotic car.
Option 2 was my original thought, and I feel I may stick with it ... maybe.
>> Edited by jitsukadave on Friday 17th March 09:42
Just to throw a spanner in the works, I spotted this at the weekend:
www.rightmove.co.uk/viewdetails-11288849.rsp?pa_n=1&tr_t=buy
It's in completely the wrong place, but damn that'd make a sweet 10 story house with a big garage / karting track on the bottom floor and a half and glass bottomed pool at the top! It'd also need about 500,000 - 800,000 quid to do up
www.rightmove.co.uk/viewdetails-11288849.rsp?pa_n=1&tr_t=buy
It's in completely the wrong place, but damn that'd make a sweet 10 story house with a big garage / karting track on the bottom floor and a half and glass bottomed pool at the top! It'd also need about 500,000 - 800,000 quid to do up
As far as I can see, if you live on your own, the only thing which REALLY appeals about oprion 1 is the big garage!!
find yourself a small house with a BIG garage, save enough to buy an elise and tinker with it (more long term satisfaction in tinkering than buying an off the peg exige S IMHO).
Cos to be honest, your not really going to be cruising for birds in your house! - the 'liz would be MUCH better at that!
A.
find yourself a small house with a BIG garage, save enough to buy an elise and tinker with it (more long term satisfaction in tinkering than buying an off the peg exige S IMHO).
Cos to be honest, your not really going to be cruising for birds in your house! - the 'liz would be MUCH better at that!
A.
Option 4?
* Buy a nice house to live in with decent parking & garage
* Use part of the remaining cash you have left over and use it to put a deposit down on another property to rent out, hence keeping as much of your equity locked into the property ladder and best ROI
* Then use another part of your cashola to buy a relatively cheap S1 for your SDP & track (buy carefully and you should be able to pick one up with all the right bits done and just enjoy using it)
Perhaps the best of both worlds if you can make the numbers work
* Buy a nice house to live in with decent parking & garage
* Use part of the remaining cash you have left over and use it to put a deposit down on another property to rent out, hence keeping as much of your equity locked into the property ladder and best ROI
* Then use another part of your cashola to buy a relatively cheap S1 for your SDP & track (buy carefully and you should be able to pick one up with all the right bits done and just enjoy using it)
Perhaps the best of both worlds if you can make the numbers work
Well, the head and heart had a fight and the head won (damn brain, keeps getting in the way all the time!).
I've just had an offer accepted on what I think is a pretty damn good house. I also got it for less than I expected, with lots of the stuff I need to buy after the seperation thrown in.
Which means that whilst I won't be getting an Elise as soon as I move in, I should (fingers crossed) be getting one before 2007.
Also I have the option of getting a lodger (shudder) now I have more room than I can shake a stick at to pay for the Elise.
I was almost tempted away by a Marcos Mantis, but the running cost with those seem a little steep given the amount of cashola I will be using to fight off the mortgage interest and pay a bit off each month. Also the lack of specialists and parts is also worrying (e.g. no more windscreens in existance that aren't already on a car) makes the Elise much more appealing.
Still, one day a rich Scandinavian love goddess will inexplicably find me irresistible and buy me all the cars I want...
>> Edited by jitsukadave on Tuesday 11th April 19:34
I've just had an offer accepted on what I think is a pretty damn good house. I also got it for less than I expected, with lots of the stuff I need to buy after the seperation thrown in.
Which means that whilst I won't be getting an Elise as soon as I move in, I should (fingers crossed) be getting one before 2007.
Also I have the option of getting a lodger (shudder) now I have more room than I can shake a stick at to pay for the Elise.
I was almost tempted away by a Marcos Mantis, but the running cost with those seem a little steep given the amount of cashola I will be using to fight off the mortgage interest and pay a bit off each month. Also the lack of specialists and parts is also worrying (e.g. no more windscreens in existance that aren't already on a car) makes the Elise much more appealing.
Still, one day a rich Scandinavian love goddess will inexplicably find me irresistible and buy me all the cars I want...
>> Edited by jitsukadave on Tuesday 11th April 19:34
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