Camaro vs House?

[jrboyd_1980]

Originally Posted by Cmaro214

have you considered leasing the vehicle, you wouldnt be paying a huge amount, and in 3 or 4 years when your reading to buy a home or whenver, you can make a decision on cost factor, if the car and house would be too much. you could give the car up then, or buy it fully with whatever the value would be at the time. they only prob is mileage, gotta keep it down.

Leasing the Camaro? Leasing is a BAD idea in todays market. Residuals SUCK, interest rates are usually to high. Don't LEASE.. you will regret it.

[manimsoblack]

Originally Posted by theoneriggs

I personally agree with hawk x7. Make a nice down payment on the car. Own the car and take your time looking for a place. You can decide to buy a house and still have it take well over a year, to find exactly what you want. For all you know you could find an awesome soulmate in 3 months that already owns a house



ps) owning camaro may help find above soulmate even faster

QFT

[mrcowboy]

I half expect to see a "Camaro Vs. Kidney Transplant" thread coming up...

[Stewcam]

Originally Posted by mrcowboy

I half expect to see a "Camaro Vs. Kidney Transplant" thread coming up...

we have worn out this one...................

[Stewcam]

Originally Posted by 2cnd chance

YES YES YES!
I'm a R/E agent and even though the market is now down that will change.
More than an investment, a home is a Hedge against inflation!(as the above poster mentioned).
Don't buy a condo/townhouse, reason $ per square foot is crazy then add the H/O fees (crazier), plus as you get older you'll want more privacy (or pick up the guitar like me).

Please show your facts/charts of a home purchase (all-in costs) as a hedge against inflation. Typically commodities (oil, gold, etc) are hedges against inflation.

[P. Ham]

Originally Posted by mrcowboy

I half expect to see a "Camaro Vs. Kidney Transplant" thread coming up...

You never know! GM has really done something right with this car to put me in such a quandary.

To summarize this thread:

• I'd be a fool not to get a house first. It's a buyers market.
• Buying a house in Texas may not be as big of an advantage as other areas.
  (property taxes and constant growth....especially San Antonio new subdivions popping up all over keeping existing house prices down.)
• Stay away from HOAs!
• You pay more per sq. ft. for Condos or town-homes and they're harder to sell and lack privacy.
• You can sleep in your car, but you can't drive your house!

Thanks again I really appreciate everyones comments.

As snizzle said, it's passion vs. investment.

[2cnd chance]

Originally Posted by Stewcam

Please show your facts/charts of a home purchase (all-in costs) as a hedge against inflation. Typically commodities (oil, gold, etc) are hedges against inflation.

Simply put, once the economy turns around the flood of money in the marketplace will devalue the $. Interest rates will climb. Prices will rise including rents. A home purchased now will hedge against this.
Sorry no charts.

[CamaroSS_LS3]

Originally Posted by P. Ham

You never know! GM has really done something right with this car to put me in such a quandary.

To summarize this thread:

• I'd be a fool not to get a house first. It's a buyers market.
• Buying a house in Texas may not be as big of an advantage as other areas.
  (property taxes and constant growth....especially San Antonio new subdivions popping up all over keeping existing house prices down.)
• Stay away from HOAs!
• You pay more per sq. ft. for Condos or town-homes and they're harder to sell and lack privacy.
• You can sleep in your car, but you can't drive your house!

Thanks again I really appreciate everyones comments.

As snizzle said, it's passion vs. investment.

OK now that you understand that buying a house first before buying a car is the smarter more responsible thing to do, most of us would understand if you go week and throw caution to the wind and buy the Camaro. It is a hard car to resist.

[P. Ham]

Originally Posted by CamaroSS_LS3

...most of us would understand if you go week and throw caution to the wind and buy the Camaro. It is a hard car to resist.

THANK YOU!!! I haven't made up my mind and I don't have much time left before my order goes through. I just found out there's about two people ahead of me so I have to make a decision like soon. Pressure!

[truth411]

Ok on last time, But I do have to respond to this. What you said is half true, BUUUUUUUUTTT Consider the alternative. If one have a (when all is said and done) $1800 month morgage payment for 30 years, roughly half of it goes to the actual principle on the home, the other half is burn away in propety taxes, intrest rates, insurance etc... (this is stilll excluding maintenance). Do the math, no matter how one spins it, The home owner looses more money over a 30 year period than one who rents. The cost of Property taxes + intrest rates + insurance... adds easily up to the cost of renting an apartment. That is money being spent out of pocket that one would not see a return on at all. The point is that renting AND investing is more efficient purley from a finacial stand point. Lets say assuming that the home owner pays $900 to the actual principle of the home and $900 goes to property taxes and Interest rates and insurances a month etc.. (this still excludes 30 years of maintenance).. IN CONTRAST to the one who rents $900 a month and invest the other $900 towards a roth IRA and 401k etc.. The point is Both the home owner and one who rents burn through roughly the same amount of money they will not see a return on (rent goes toward nothing and Property taxes, insurance, interest rates burns away aswell). The One who rents has more income free to invest than the home owner. IF one looks at a house as more that a finacial investment, i.e. as a place one raise a family then it makes sense. From a purely finacial standpoint it is a terible investment. see my point.

[Scarrzz]

Two words:

Camaro Now!

[dmginc]

Originally Posted by TAG UR IT

Ok. I read your first part.

Get ready to mow a lawn....or the HOA will be banging on your door.

LEARN how to fix a garage door. Dude...it's really simple.

The AC? Don't try it. Call someone...and get ready to pay someone to fix it. That is, unless, you buy the appliance warranty from someone and have it done for either free or next to nothing.

Maintaining a house is easy. But, even better advice?....buy NEW. That way, you don't have to buy someone else's problems. You KNOW what you are getting. Oh...and if you are a first time buyer, don't forget about your tax break. In fact, our wonderful gov't is currently thinking about raising that tax break so you can get more back right off the bat.

+1 and the raised the the tax break on that...dammit! i bought my first house a year and a half ago.

[1o.f00t.570rk]