Move Out Vs Expensive Car?

[Ballin']

Chaps,

Been reading a few threads on here lately, especially the 'cars and their houses' thread and wondered what the general PH conception of this was.

I know different people have different priorities so what's yours?

Personally, i'd feel a bit of a numpty driving round in an expensive car while still living at home. Make no mistake, i'm in no rush to go out and get on the property ladder myself, quite comfortable renting for the time being as it's far less hassle, affordable for me at the moment and as it's just me I can up and leave whenever I feel like it. I'll probably buy when I finally 'settle down' and find the 'forever' house but that's a long, long way off yet!

I wanted to 'leave the nest' as soon as I could and just wanted my own space, without the nagging, and go out and get some life experience. Don't need mummy and daddy doing all my washing,ironing,cooking,cleaning etc etc. However, I know this suits some people and their quite happy to stay at home with their expensive cars and have a hefty disposable income.

So, which category do you fall into?

Move out a.s.a.p or stay at home and enjoy the extra cash while you still can?

Cheers folks.

[jagdpanther]

Given the stat of the used car market at present, I would spend some money on a fun car to enjoy for a year or two, then sell on when the market picks up and recoup the money....given that I could afford to actually run and maintain said car first

[ewenm]

Move out would be (and was) my choice. I wanted to get on with my life, independently of my parents. My decision was much easier as I moved away from my hometown for a decent job.

[posterboy]

Move out, time for real freedom and independence. On the other hand you will not get much for your "expensive" car

[spikeyhead]

I wanted to move out when I was 23, just finished uni btu in 89 I had a look and decided £45k for a studio flat in a stty bit of Luton, back when average wages were £12k pA just wasn't worth it. Waited until 93 and bought a 3 bed semi for slightly under £50k.

My advice to anyone now, have fun whilst you can, if that means renting with some mates and enjoying life that way then do it.

If that means staying at home and having a decent car then do it.

Its your life, your choices, do the things that you want to do and don't regret teh mistakes, just learn form them. There's no perfect way.

[wadgebeast]

Move out! Be a man! Be an adult! Live by your rules. There's loads of cheap metal out there - you can get a surprisingly decent amount of car for peanuts at the moment.

Get the gucci car before you've got kids.

[NDA]

In the current economic climate? Stay at home and pay some rent to your (probably) cash-strapped parents. Great time to buy a bargain motor too.

[Nolar Dog]

I wouldn't have stayed at home (with parents) just so I could have an expensive car.

[ShadownINja]

NDA said:

In the current economic climate? Stay at home and pay some rent to your (probably) cash-strapped parents. Great time to buy a bargain motor too.

Pretty much my thinking.

Wouldn't waste it on an expensive car as you won't see the money again so it'll delay your ability to move out or grab a bargain home in 2-3 years time.

[Big Time Charlie]

I suppose in the context of this thread, I'm in the 'worst' of both worlds. I graduated a couple of years ago, live with my folks and drive a car worth about £500, while saving thick end of £1k a month. Not willing to buy into a falling property market now, or reduce my savings efforts to go and rent which will bugger me up when I come to buy in a while. Nor can I justify a flash car; it'll have to wait for a while.

[crackthatoff]

jagdpanther said:

Given the stat of the used car market at present, I would spend some money on a fun car to enjoy for a year or two, then sell on when the market picks up and recoup the money....given that I could afford to actually run and maintain said car first

too right! I used to rent but got fed up of wasting money month after month, back at home and I will be swapping in the lotus for a noble early next year, Happy days

[RobM77]

If you don't own a house now, then I'd wait a while before buying. Prices are going to drop and although the housing market goes up and down and of course rises in the long term, you obviously want to make that initial purchase in a dip. My advice would be to hold tight and wait a bit whilst you save. The way things are going, you'd probably be looking at buying sometime late next year, so I'd have thought so it's probably not worth buying a really nice car now whilst you wait cause it's only 12 months away (and the car market's dropping too!!) - I'd just put the money into high interest savings. Besides, you'll need all the deposit you can get for a mortgage. If you buy a bargain performance car now, then you'll probably want to sell it to fund a house purchase in the future. You'll obviously be wanting to buy a house just before the lowest point of the recession/price dip, so car values will also be low and you'll lose out...

If you really are desperate to move out of your parents' place, then just rent a modest flat, which I think would be cheaper than buying now (12 months rent of a flat = about £9k; fall of a £200k house over the next twelve months = anyone's guess, but I expect it'll be more than £9k/5%). The decision to rent a flat or stay with your parents probably depends on firstly your parents - do they just leave you to do your own thing, or do you feel like they're all around you all the time? and secondly on how much rent they're charging you at home.

Lastly, don't get too serious about life - concentrate on what you want to do to enjoy yourself cause life's short! There are an awful lot of people out there who will tell you that you have to move out cause it's "sad" to live with your parents, or that you have to buy an expensive car because it's a waste to have the money in the bank etc etc. My advice is to ignore them, use your own intelligence and concentrate on number one. Lots of people are probably just jealous of your situation and their criticism is probably just based around jealousy, or of course plain stupidity. Come back to them and laugh in five years time when you've got a lovely house and you've saved up enough to get a really nice car.

Edited by RobM77 on Sunday 30th November 16:33

[jagdpanther]

crackthatoff said:

jagdpanther said:

Given the stat of the used car market at present, I would spend some money on a fun car to enjoy for a year or two, then sell on when the market picks up and recoup the money....given that I could afford to actually run and maintain said car first

too right! I used to rent but got fed up of wasting money month after month, back at home and I will be swapping in the lotus for a noble early next year, Happy days

As someone has already said, have a little fun while you can, but always remember to moderate

[jamoor]

Surely there will be a transition at some point where your parents end up living with you rather than the other way round

[HAB]

If your in your mid twenties or above, it's time to untie the apron strings.

[anonymous-user]

RobM77 said:

There are an awful lot of people out there who will tell you that you have to move out cause it's "sad" to live with your parents,

I think you need a reality check. Of course it's sad still living at home as an adult. How feckless is that? I bet if there was a forum for these poor parents they would all be complaining about you lot still living with mum and dad.

I work with loads of blokes with twentysomething year old 'adults' still at home or having moved back in after Uni or whatever and they ALL complain about having their children living with them still.

I bet most of your parents actually want you out and want their places to themselves despite what they tell you. Then you add to their torture by buying a car you can only afford because you're bludging off them instead of saving up to get your own place and prolonging their misery!

What do you all do when you get girlfriends? Do you honestly feel comfortable telling them you still live with your folks? Do you have to wait until mum goes to the shops before you have a crafty shag in your old bedroom with your power rangers posters still on the walls? I expect some of you probably tell girls it's actually your place, you're just letting your folks stay there and let them have their stuff everywhere.

RobM77 said:

Lots of people are probably just jealous of your situation and their criticism is probably just based around jealousy, or of course plain stupidity. Come back to them and laugh in five years time when you've got a lovely house and you've saved up enough to get a really nice car.

Yes because it's really difficult to just not leave home isn't it. I mean what do you have to achieve exactly to still live at home as an adult? . . . Erm nothing.

[ewenm]

A car is just a car, just a "thing". Moving out, starting your own life independently is much more than just a "thing", it's more than just a financial decision (or at least, was for me). Yes, it might be more expensive to live away from the parental home, but life's not all about the cost, it's about the experiences too.

Edited by ewenm on Sunday 30th November 18:06

[RobM77]

el stovey said:

RobM77 said:

There are an awful lot of people out there who will tell you that you have to move out cause it's "sad" to live with your parents,

I think you need a reality check. Of course it's sad still living at home as an adult. How feckless is that? I bet if there was a forum for these poor parents they would all be complaining about you lot still living with mum and dad.

I work with loads of blokes with twentysomething year old 'adults' still at home or having moved back in after Uni or whatever and they ALL complain about having their children living with them still.

I bet most of your parents actually want you out and want their places to themselves despite what they tell you. Then you add to their torture by buying a car you can only afford because you're bludging off them instead of saving up to get your own place and prolonging their misery!

What do you all do when you get girlfriends? Do you honestly feel comfortable telling them you still live with your folks? Do you have to wait until mum goes to the shops before you have a crafty shag in your old bedroom with your power rangers posters still on the walls? I expect some of you probably tell girls it's actually your place, you're just letting your folks stay there and let them have their stuff everywhere.

RobM77 said:

Lots of people are probably just jealous of your situation and their criticism is probably just based around jealousy, or of course plain stupidity. Come back to them and laugh in five years time when you've got a lovely house and you've saved up enough to get a really nice car.

Yes because it's really difficult to just not leave home isn't it. I mean what do you have to achieve exactly to still live at home as an adult? . . . Erm nothing.

Why don't you stick to the point of this thread and give the OP some genuine advice instead of just taking the opportunity to insult people? All you're doing is proving to everyone here how narrow minded and well.. err.. childish you are. Clearly moving out isn't as big a step to adulthood as you thought!!

Edited by RobM77 on Sunday 30th November 18:22

[Howard-]

RobM77 said:

el stovey said:

RobM77 said:

There are an awful lot of people out there who will tell you that you have to move out cause it's "sad" to live with your parents,

I think you need a reality check. Of course it's sad still living at home as an adult. How feckless is that? I bet if there was a forum for these poor parents they would all be complaining about you lot still living with mum and dad.

I work with loads of blokes with twentysomething year old 'adults' still at home or having moved back in after Uni or whatever and they ALL complain about having their children living with them still.

I bet most of your parents actually want you out and want their places to themselves despite what they tell you. Then you add to their torture by buying a car you can only afford because you're bludging off them instead of saving up to get your own place and prolonging their misery!

What do you all do when you get girlfriends? Do you honestly feel comfortable telling them you still live with your folks? Do you have to wait until mum goes to the shops before you have a crafty shag in your old bedroom with your power rangers posters still on the walls? I expect some of you probably tell girls it's actually your place, you're just letting your folks stay there and let them have their stuff everywhere.

RobM77 said:

Lots of people are probably just jealous of your situation and their criticism is probably just based around jealousy, or of course plain stupidity. Come back to them and laugh in five years time when you've got a lovely house and you've saved up enough to get a really nice car.

Yes because it's really difficult to just not leave home isn't it. I mean what do you have to achieve exactly to still live at home as an adult? . . . Erm nothing.

It was halfwits like you that I was referring to in my post to the OP. Thank you for the demonstration

harsh

Edited by Howard- on Sunday 30th November 18:22

[Established 1984]

I'm 24, have just graduated and am looking for work. I'm currently still at home and will be for a while. I'm hoping that I'll be able to get a good deposit together just as the market bottoms. I won't be blowing the money I save on rent on a flash motor when I can have just as much fun in my Mk1 Mr2.