House or car - which did/would you chose?
Discussion
Having just spent more on a house than I planned, I’m now in the position of not being able to upgrade my ‘fleet’ for a number of years. We didn’t need to spend as much on the house as we did, but location was very important to us, so it was a conscious decision to spend as much as we have. The upside is that we don’t intend to buy again, however the Porsche will have to wait a few more years yet.
Which would/did you chose, and what’s the impact on your fleet?
Which would/did you chose, and what’s the impact on your fleet?
I sold all my cars and stuff to buy our first house, after 12 months I've just managed to scrape enough to buy a Sunday/track car, nothing too special but I'm glad to have a car again. The house is more important and as soon as you are settled you soon start saving 
just get a cheaper car
just get a cheaper carI had to choose either racing or house.
I put off the house for a year and went racing for a second year instead.
I then gave it up and bought the house instead. I must say, in some ways I regret doing a second year of racing because I would now be in a much better financial position than I am now. On the other hand, the racing was outstanding and it was something I used to absolutely love so all was not lost!
I would always advise someone else to go for the house option personally.
I put off the house for a year and went racing for a second year instead.
I then gave it up and bought the house instead. I must say, in some ways I regret doing a second year of racing because I would now be in a much better financial position than I am now. On the other hand, the racing was outstanding and it was something I used to absolutely love so all was not lost!
I would always advise someone else to go for the house option personally.
I've just gone and got my first house (or in the long waiting process of solicitors etc). So I think I may have to just settle with the company car for a while and sell the weekend toy.
On the bright side, company car, no insurance to pay or repairs if anything were to go wrong so even more savings there to help ne get one back sooner!
On the bright side, company car, no insurance to pay or repairs if anything were to go wrong so even more savings there to help ne get one back sooner!
I'm in a similar position - house or boat. I've bought 2 project boats. I should make a decent profit on them to put a better deposit down on a house. I'm going to keep one for a couple of years and when I've sold the other, buy another project boat. If I do it right I'll have about a 20% house deposit when I sell them all.
Life / Stuff / Cars over house in general.
Might seem a bit contraversial on a forum where everyone pays for their house outright in cash, and everyone owns a exotic sports car (
)
However my reasons -
1) My grandparents on both sides died of various cancers and alzhiemers, and my family history of illness is not good. Statistically, I am very likely to die shortly after pensionable age.
2) I am not willing to trade 20 years of my life to save for a tiny flat in the middle of Bracknell. I am perfectly happy renting and having spare cash to do things that I actually enjoy rather than saving for an "investment" that I loose when I pass on to the other side... as in decomposing in a box.
3) You can't take it with you when you die, and you only live once. Whilst owning their own home is a life goal for some people, it is not mine. For me, there is no benefit to owning a house outright when I die. I have no dependancies and nobody to leave it to, and this is not likely to change. I have other investment plans in place to cover my rent on retirement.
4) House prices are staggeringly high in my opinion. The same as I would not buy a Ford Mondeo for £50,000 - I would also not buy a house at their current level. If prices drop, I might consider it. Until then, perfectly happy renting.
The above is purley to suit my lifestyle choice, and obviously is not compatible for many on here. However I am happy, and like my surviving grandmother told me, she would rather have not scrimped and saved their whole lives and had a house at the "end", if she could do it all again she would rather have lived a happy life rather than be alone in a house that she owns for her final days.
Might seem a bit contraversial on a forum where everyone pays for their house outright in cash, and everyone owns a exotic sports car (
)However my reasons -
1) My grandparents on both sides died of various cancers and alzhiemers, and my family history of illness is not good. Statistically, I am very likely to die shortly after pensionable age.
2) I am not willing to trade 20 years of my life to save for a tiny flat in the middle of Bracknell. I am perfectly happy renting and having spare cash to do things that I actually enjoy rather than saving for an "investment" that I loose when I pass on to the other side... as in decomposing in a box.
3) You can't take it with you when you die, and you only live once. Whilst owning their own home is a life goal for some people, it is not mine. For me, there is no benefit to owning a house outright when I die. I have no dependancies and nobody to leave it to, and this is not likely to change. I have other investment plans in place to cover my rent on retirement.
4) House prices are staggeringly high in my opinion. The same as I would not buy a Ford Mondeo for £50,000 - I would also not buy a house at their current level. If prices drop, I might consider it. Until then, perfectly happy renting.
The above is purley to suit my lifestyle choice, and obviously is not compatible for many on here. However I am happy, and like my surviving grandmother told me, she would rather have not scrimped and saved their whole lives and had a house at the "end", if she could do it all again she would rather have lived a happy life rather than be alone in a house that she owns for her final days.
t in the winter, but in the summer.. pootle up into Birmingahm or other canal friendly cities, and enjoy having a cold pint by the canal side with my mates meters away from home Here is my situation,
The house myself and swmbo rent at present has just been put on the market for sale. Now we have nearly £10k saved from just putting aside the extra money we have every month.
I have a rx7 fd3s as a weekend comedy car. It's probably worth around £4.5-£5k as it is plus the spares I have I could add another £4k.
The only problem is im having another engine built at present that I was planning to drop in over winter this year but with the house being put up for sale I need to divert funds elsewhere for the time being.
So the dilemma I'm in is do I sell the car and all the spares so we could have circa £19k ish or do we chance out arm and go for one of the 95% mortgages that the developers are offering?.
We did contemplate looking into purchasing the house we are in. The only problem is the estate agents have put it up for £10k more than the price the landlady tried selling for two years ago, my gut feeling is that the estate agents are chancing there arm in the hope we would buy.
Any thoughts on the above will be greatly appreciated
Regards
Matt
The house myself and swmbo rent at present has just been put on the market for sale. Now we have nearly £10k saved from just putting aside the extra money we have every month.
I have a rx7 fd3s as a weekend comedy car. It's probably worth around £4.5-£5k as it is plus the spares I have I could add another £4k.
The only problem is im having another engine built at present that I was planning to drop in over winter this year but with the house being put up for sale I need to divert funds elsewhere for the time being.
So the dilemma I'm in is do I sell the car and all the spares so we could have circa £19k ish or do we chance out arm and go for one of the 95% mortgages that the developers are offering?.
We did contemplate looking into purchasing the house we are in. The only problem is the estate agents have put it up for £10k more than the price the landlady tried selling for two years ago, my gut feeling is that the estate agents are chancing there arm in the hope we would buy.
Any thoughts on the above will be greatly appreciated
Regards
Matt
The chap above deferred the house for a year of racing.
I’ve deferred a house purchase for a year of travelling and snowboarding.
Deferring the house purchase to spend the money on a self defining lifestyle choice is probably a ‘sensible’ thing to do.
But, to put off the house just to get a shinier car for the driveway and commute is (IMO) a bit silly.
There are lots of enjoyable cars that can be purchased for a few K instead of tens of K.
(I guess we can adjust those numbers by any number of zeros depending on an individuals personal financial situation.)
I’ve deferred a house purchase for a year of travelling and snowboarding.
Deferring the house purchase to spend the money on a self defining lifestyle choice is probably a ‘sensible’ thing to do.
But, to put off the house just to get a shinier car for the driveway and commute is (IMO) a bit silly.
There are lots of enjoyable cars that can be purchased for a few K instead of tens of K.
(I guess we can adjust those numbers by any number of zeros depending on an individuals personal financial situation.)
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