House or car - which did/would you chose?
Discussion
House. If it were ethical (I mean if me and the girlfriend weren't buggering off to Australia for a whole month very soon.. and America for three weeks 
) then we would have a mortgage right now. But while she is at university and I'm undecided about my future there is just no need.
But yeah, if it came down to it, I'd give up what little equity I have in the car and sell it. But I swear to high heaven that any property I purchase in the near future will have a garage and at the very least, a good sized man shed.
But going on what I read on here and in the news, waiting a few years to buy might not be a bad thing..
) then we would have a mortgage right now. But while she is at university and I'm undecided about my future there is just no need. But yeah, if it came down to it, I'd give up what little equity I have in the car and sell it. But I swear to high heaven that any property I purchase in the near future will have a garage and at the very least, a good sized man shed.
But going on what I read on here and in the news, waiting a few years to buy might not be a bad thing..
A lex said:
Quite liberating in a perverse way.
I find this. It resets the needle from time to time. My car value has gone from about (all GBP) 25k to 10k over the past two years (via 30k, and 15k) and I'm still tempted to chop into something dirt cheap. Once I get to the low end of the spectrum I then get bored and buy something stupid and the whole cycle starts again!
kambites said:
Definitely house first for me - I got a decent house and paid off most of the mortgage before I upgraded from my two grand "banger".
ETA: Having said that, I'd probably be wary of buying a house now; I think prices still have some way to fall in real terms and there's little point in owning a house that's depreciating.
I think this is a really interesting point.ETA: Having said that, I'd probably be wary of buying a house now; I think prices still have some way to fall in real terms and there's little point in owning a house that's depreciating.
I think if you bought a house anytime before, say, 2000, you've got every chance of paying off your mortgage and having a life afterwards. If you thought they were getting pricy then or couldnt buy, you've got less chance. If you're a first time buyer now, buying in an already (still) overheated market (IMO), you've got a bigger challenge.
I'd go house 100% of the time with one exception - when they're overpriced. As someone else noted, buying a house now it like buying a £50k Mondeo IMO. I would love, love, love a house, but I simply cannot see the value where they currently are. So, car it is. Preferably, one thats not going to lose bundles of money!
In 1972 sold my sports car for £400 as a deposit on a £6400 house made do with a Cortina GT. My house was recently valued at £425000 & its paid for. I went without a very fast car for 8 years, during which time my 2 kids were born. I could have had a works house at £12 a month but choose the £49 a month mortgage. Dont ever put a car before a house. I now have a 200mph car & a nice house.
Captain Muppet said:
Is this Pistonheads or Propertyheads?
My criteria for my house were: 2 parking spaces plus a garage and some kind of accomodation.
Which in reasonable areas in the south-east will cost £500k+. Not many can afford that AND shiny metal to put on the spaces and in the garage.My criteria for my house were: 2 parking spaces plus a garage and some kind of accomodation.
Vladimir said:
Been renting since I started working many years ago, own two cars bought outright. Don't owe a penny to anyone, will buy a house outright soon.
Just to stop this thread being a "I bought a house, aren't I clever" thread.
But that the thing - if you bought a house, you ARE seen as being clever! And if you haven't, people look down on you...."you're mad, idiot, idiot, idiot"...becuase you dont want to pay £300k for a house you'll outgrow in 2 years and will be worth £50k less if IRs go to 1/2 where they should be.Just to stop this thread being a "I bought a house, aren't I clever" thread.
Pork said:
But that the thing - if you bought a house, you ARE seen as being clever! And if you haven't, people look down on you...."you're mad, idiot, idiot, idiot"...becuase you dont want to pay £300k for a house you'll outgrow in 2 years and will be worth £50k less if IRs go to 1/2 where they should be.
Blimey! Do I see someone that actually might agree ever so slightly? Most people think we're bonkers.Works well for us - appears to be clinically insane to most.
Vladimir said:
Blimey! Do I see someone that actually might agree ever so slightly? Most people think we're bonkers.
Works well for us - appears to be clinically insane to most.
Ha. Yeah, I do. But you've done very well to buy a house for cash! I dont think many renters are in that position.Works well for us - appears to be clinically insane to most.
Pork said:
Ha. Yeah, I do. But you've done very well to buy a house for cash! I dont think many renters are in that position.
Not bought one yet - we plan to buy one in the next 5ish years. Currently able to afford a pretty average gaff which we're not keen on doing. Could possibly by the place we rent (been here almost 6 years) but it'll be big bucks.
Vladimir said:
Not bought one yet - we plan to buy one in the next 5ish years. Currently able to afford a pretty average gaff which we're not keen on doing. Could possibly by the place we rent (been here almost 6 years) but it'll be big bucks.
So do you see your savings going up significantly, or house prices coming down? Or both?
Gassing Station | General Gassing | Top of Page | What's New | My Stuff