Quote:
Originally Posted by cab2g
Well, I built my first house last year and I had the exact same dilemma as you. Car or House. I chose the house, however, the mortgage payments (plus taxes and increased insurance) are about 2x what I was paying on rent. So I am definitely pissing a way more on mortgage interest than I would've with rent. However, you will get that fancy dancy tax deduction. But really It's only a few thousand dollars so don't get too excited. You still will be paying A LOT of money on interest the first 10 or so years of your loan, most likely more than you would've on rent. So you'll be saving less money in the bank than renting.
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For the same size house as the apartment? No way... With that 2x payment, you are getting a MUCH larger house.
I say get the house and build some equity, then a year or so later get the Camaro. The house is an investment. Also, you can call someone to come fix a new house just like your apartment for the first year, and you can hire someone to mow your lawn.
