Lose the car to buy a better house?

[Cal_GTA]

As title really. We are looking to buy our first house and having a car I'm preasus about is a bit of a stumbling block.

I don't need a car at all for work it's purely my weekend vice. So as a motoring community I ask for your advice. Do I hang up the keys so we can enjoy a better house/location?

• disclaimer, I've written this on my phone.

[hornetrider]

That is all.

[Simpo Two]

Cars go down in value and houses generally go up, so from a purely economic view it makes good sense.

[jas xjr]

you can always buy another car again . buy the house
i saved the money for a 911 and ending up putting towards a house. thing is never managed to aquire the funds to buy adecent car again

[Bonefish Blues]

Sadly, the answer is yes.

[Mr GrimNasty]

House trumps car - everytime.

[Busamav]

In 1981 I sold an almost new XR3 , yes XR3

and replaced with a £50 automatic mk2 Cortina to aid a house purchase at 63k which was a hell of a lot then , to me anyway .

That Cortina had to do 70 miles a day return in to London and never missed a beat bless her .

[Shnozz]

When I was about 20 I sold my £20k sports car to use as a deposit on my first flat. I ended up driving a £1500 Ford Probe for 2 years On the positive, the £20k 'sports' car was an MGF so it was more of a sideways move than I realised at the time.

A few years later the mortgage had become sufficiently manageable that I swapped the Probe for my first TVR.

[eldar]

From a sensible POV, flog the car.

Then buy the house. Then invent* the need for a car, and buy cheap fun

• preferably persuade the OH that they need a car

[Cal_GTA]

This is more of a case of, do we go for a modern characterless box house with allocated parking/drive. (limited options in budget)

Or lose the parking, which opens up more period property options. But I wouldn't be happy leaving my car out on the street for weeks at a time. Hence I think it would be better to sell.

I don't think the car will lose much value and who knows if the house will go up in value. But it would be nice to finally move out of rented living.

edit - link to car - http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Edited by Cal_GTA on Sunday 12th December 18:55

[Hereward]

Sold my 911 to pay for double glazing. DOUBLE GLAZING! FFS

[Efbe]

Cal_GTA said:

As title really. We are looking to buy our first house and having a car I'm preasus about is a bit of a stumbling block.

I don't need a car at all for work it's purely my weekend vice. So as a motoring community I ask for your advice. Do I hang up the keys so we can enjoy a better house/location?

• disclaimer, I've written this on my phone.

sold my FTO to get a house. Loved it at the time, however a few years later was able to buy a Skyline, so all worked out well.

Just remember that when you get a first house, your bills WILL be higher than expected...

• council tax
• water
• electric
• gas
• house phone
• house insurance
• mortgage
• internet
• TV licence
• sky bills
• mobile contracts
• MOT
• Car tax
• Car insurance
• petrol
• debts/student load/overdraft fees.

make sure you have accounted for it all, and there WILL be extra costs involved with moving into a new house, even if it's just that lovely pink rug the Mrs needs for the hallway

[Efbe]

Hereward said:

Sold my 911 to pay for double glazing. DOUBLE GLAZING! FFS

thought that's what clingfilm is for!

[jeff m]

Hereward said:

Sold my 911 to pay for double glazing. DOUBLE GLAZING! FFS

That post should get you at least a month in the PH sin bin.

Moderator.....

[Simpo Two]

Cal_GTA said:

I don't think the car will lose much value

I fear it will.

Efbe said:

Just remember that when you get a first house, your bills WILL be higher than expected...

• council tax
• water
• electric
• gas
• house phone
• house insurance
• mortgage
• internet
• TV licence
• sky bills
• mobile contracts
• MOT
• Car tax
• Car insurance
• petrol
• debts/student load/overdraft fees.

Well you can dump Sky and very few people actually NEED a mobile phone - so that's an extra £600pa you've earned every year for doing nothing

[Cal_GTA]

I'm aware of the bills, i pay them all now. Apart from sky, which I don't plan on getting. The only one which will be higher will be heating/gas. Mortgage repayments probably wouldn't work out much different to my current rent.

I'm sure the car will lose value. That's what cars do, its not an investment and i'm not overly concerned about its 3 year deprecation. That's not what i'm asking about.

The money from the car doesn't buy a better house. Rather not having something i'm precious about gives more housing choices at the same cost.

[Road Pest]

NO. It was the end of my marriage when the Lotus went.

[cpas]

I would sell the car, but the house you want, then but a cheap snotter which is good fun but you don't mind being parked in the street. Without a car, you will soon get pissed off - you need to have something to drive - even a cheap one

[Road Pest]

Did I say NO, if not NO!

[Burrito]

cpas said:

I would sell the car, but the house you want, then but a cheap snotter which is good fun but you don't mind being parked in the street. Without a car, you will soon get pissed off - you need to have something to drive - even a cheap one

^^ This

I think a lot of people have had to do this. I did and in effect, it paid for a bathroom

On the plus side, having the focus gave me the ambition/drive to go for pay-rises and many, many hours overtime. Makes you appreciate the car more too.