Sorry to take up your time, but being nsx enthusiasts, I know that you guys can help me. I am going to graduate from college soon and have a real dilemma I must resolve. My question: Should I purchase a nsx or save the money as a down payment on a new house. I know that the practical choice (from the point of view of non-nsx fans) would be to first purchase a house and be financially stable before buying such an expensive luxury, but it seems so hard. Any input on this matter would truly help. Please be objective here as this decision will define the rest of my life.
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too imperative to be off topic
- Thread starter TheBigRice
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I bought a 911 out of college and found myself selling it 3 years later to buy a house. Priorities change. I would do the same thing again if given a choice. The 911 appreciated in value and was a relatively good investment.
I bought the NSX 3 years after buying the house.
[This message has been edited by gobble (edited 26 September 2002).]
I bought the NSX 3 years after buying the house.
[This message has been edited by gobble (edited 26 September 2002).]
Your kidding right? Lets just put it like this. You can't sleep in an NSX (comfortably), you can't LIVE in an NSX. If you buy an NSX, apparently you'll be forced to RENT a home or apt. Another no brainer here.
Absolutely a no brainer!!, Did they not teach you anything in school???Buy the NSX and enjoy your youth..................you'll have plenty of years ahead of you to make grown up choices
There are times when renting an apt./house may make some sense vs. buying a car, etc.
However being financially stable is certainly important and going the house route prior to that would make sense.
The NSX will not likely be appreciating in value anytime soon, if you start with the house now, in the long run you may be much better off with a newer NSX or whatever it is you want in a few more years.
However being financially stable is certainly important and going the house route prior to that would make sense.
The NSX will not likely be appreciating in value anytime soon, if you start with the house now, in the long run you may be much better off with a newer NSX or whatever it is you want in a few more years.
House.
Car
This is a personal decision that only you can make for yourself. Everyone has different circumstances and priorities, so what may work for one person might not necessarily be right for you.
With that said, if I were in your shoes, I would attack my debts first before investing in a big expenditure such as a house or an expensive car. You will probably need housing and reliable transportation as you enter the workforce, but they don't have to be extravagant. Separate your needs and wants, and then decide what tradeoffs you're willing to live with.
Good luck.
With that said, if I were in your shoes, I would attack my debts first before investing in a big expenditure such as a house or an expensive car. You will probably need housing and reliable transportation as you enter the workforce, but they don't have to be extravagant. Separate your needs and wants, and then decide what tradeoffs you're willing to live with.
Good luck.
Buy the house first. Get your ducks in a row before splurging on stuff like a sports car. Also, interest rates are at 40-year lows. The amount you save between a 6% loan and a 8% loan (possible in a few years' time) could pay for the monthly payments on an NSX.
-Bob
-Bob
Only buy the NSX if you can pay cash in full. Until then, just simply save....
With interest rates on 15 year mortgages in the low to mid 5's right now, you need to buy the house and lock in these all-time low rates.
Buy the NSX in a few years...
Buy the NSX in a few years...
The way I look at it, I bought my first house at 22, one of the best moves I have ever made. At that time, 1976, I had a used 1972 Formula Firebird,a fun car. I paid 40k for the house, now that house is worth over 300k, I still own it. Yes, I did not get an exotic, a F-car, till I was 34.
Because of my actions back then, I now have multiple cars and houses. I could sell that first house and buy just about any car I want. However, the NSX is a great car and I have run out of garage space, so I am happy with what I have.
Because of my actions back then, I now have multiple cars and houses. I could sell that first house and buy just about any car I want. However, the NSX is a great car and I have run out of garage space, so I am happy with what I have.
I'd go for the house. At least that's what my wife and I did.
At the time we started looking (in 1997), we knew the SoCal housing market was just starting to recover. We locked in what seemed like a great interest rate (of course, we have refinanced since then) and bought our first home. Had we waited two years, it would have been out of our price range.
Of course, I felt that the NSX was way out of my price range at that time. In other words, I wasn't even considering buying my dream car until a few years later.
And believe me, if you're as nutty about the NSX as I am, you'll want a place where you can feel good and secure about parking your NSX (like an attached garage).
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--akira3D
'00 Acura NSX-T (red/black), '97 Honda Civic HX (black), '01 Lexus IS300 (black/black)
"Reality is better than the dream..."
akira3d.com/nsx
At the time we started looking (in 1997), we knew the SoCal housing market was just starting to recover. We locked in what seemed like a great interest rate (of course, we have refinanced since then) and bought our first home. Had we waited two years, it would have been out of our price range.
Of course, I felt that the NSX was way out of my price range at that time. In other words, I wasn't even considering buying my dream car until a few years later.
And believe me, if you're as nutty about the NSX as I am, you'll want a place where you can feel good and secure about parking your NSX (like an attached garage).
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--akira3D
'00 Acura NSX-T (red/black), '97 Honda Civic HX (black), '01 Lexus IS300 (black/black)
"Reality is better than the dream..."
akira3d.com/nsx
My vote is for a house - all time low interest rates as was pointed out earlier - get a house. Make sure it has a nice garage for your future NSX. It would be nice to find a house with a garage with a built in car lift, and maybe a grease pit too.
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1994 Green-black roof/tan, 5 speed
Do you know of another Green-Black roof NSX??
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1994 Green-black roof/tan, 5 speed
Do you know of another Green-Black roof NSX??
House
buy a $32k used NSX.
then buy a house. Thats what I'm doing...
$32k these days is less than a loaded 350Z... you won't be sorry. I never regret buying my NSX for $42k and I don't own a house yet. Life is short... live it hard.
then buy a house. Thats what I'm doing...
$32k these days is less than a loaded 350Z... you won't be sorry. I never regret buying my NSX for $42k and I don't own a house yet. Life is short... live it hard.
I did the same thing gobble did. I had a 911 C4, which I sold to buy a house. Then I ended up buying the NSX a few months later. I couldn't stand not having a sports car. However, buying the house was the smartest thing I've done. The way the price of homes have skyrocketed here in the bay area was worth the value of multiple NSX's. I'm sure it's the same in Sac.
Bottom line, get the home and then buy the car later.
Honestly, get a old NSX for around 30K and then get a house...this is coming from a guy who is nearly your age...
...ever wanna go crusin drop me a line (email) and we can set sometin up..assuming ur visiting this coast..
ps too rice is not nice...hehe I love that line.
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Auraraptor
1999 Honda Prelude "Mina" (Should be the new daily driver)
1998 BMW 750iL "Katrina" Still the daily driver)
1997 NSX "Nina"
1982 BMW 633CSi "Jessica"
[This message has been edited by Auraraptor (edited 27 September 2002).]
...ever wanna go crusin drop me a line (email) and we can set sometin up..assuming ur visiting this coast..
ps too rice is not nice...hehe I love that line.
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Auraraptor
1999 Honda Prelude "Mina" (Should be the new daily driver)
1998 BMW 750iL "Katrina" Still the daily driver)
1997 NSX "Nina"
1982 BMW 633CSi "Jessica"
[This message has been edited by Auraraptor (edited 27 September 2002).]
depends on wether you want to take the fun route in life or the smart route either have the benefits:
by the house get a second morgate and finace the nsx under the house after a year
buy the nsx and rent or buy a cheap apartment and have a blast with the nsx
i'm 23 and had 2 nsx's before i had my house built now i'm on my 3 nsx (for good this time) and never had a bad day......
by the house get a second morgate and finace the nsx under the house after a year
buy the nsx and rent or buy a cheap apartment and have a blast with the nsx
i'm 23 and had 2 nsx's before i had my house built now i'm on my 3 nsx (for good this time) and never had a bad day......
Smore...you are a smart man. IMO that is the best route.
house..
Its simple the interest on a house is deductable as well as a laundry list of benifits (unless you own a business wheras the auto is part of its expenses etc etc.)
Reguardles unless your established in a home 1st I would suggest the home. www.MYNSX.com
Its simple the interest on a house is deductable as well as a laundry list of benifits (unless you own a business wheras the auto is part of its expenses etc etc.)
Reguardles unless your established in a home 1st I would suggest the home. www.MYNSX.com
Yellow Rose
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I honestly can't believe that an educated person graduating from higher academics can't this decide for their own. What *did* you learn in school?
Can't live in an NSX, can't drive a house, so go but a motor home and be done with it.
I agree with what Smoore said. buy smart in CA, and your investment will appreciate enough to get you several NSX's. Making a good investment on my first house at 20, has afforded me many other investments subsequently. I now own three homes and collect a nice rental income each month and I am probably around your age. I also know many others that I graduated with that went the same route as me and they are all doing well. Buy the house, than get the NSX in a year. If you need to finance the car anyways, use the equity from your home, as it is tax deductible as others have noted earlier.
Buy the House/Condo/Townhouse first. The guys on this list are (or seem pretty financially secure) and have given solid advice since I've started reading these forums. The mortgage rates are at there lowest (15yr ~5% /30yr ~6%). I bought my first condo in the DC area when I was 27. With that piurchase, it made a significant difference in my tax returns. I then ended up selling it for double the amount. In the mean time was able to buy several nice cars and my CBR900RR. At 30 I bought my dream home in NC (on a golf course) and through SMART investments and building a STABLE financial foundation for my family, I decided to splurge and buy a used 92 NSX. Now I still have my bike, an accord (wife's), a CRX (commuter car), a Lexus LX450 (family vehicle), and the NSX.
So make your purchases wisely..
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Biaggi
92 Red NSX #483
94 CBR900RR
So make your purchases wisely..
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Biaggi
92 Red NSX #483
94 CBR900RR
There are two material possesions that I want and do not have. My own house, and my own NSX.
IF I could afford to rent an apt. after buying an NSX, I would.
However, since I plan on getting married and having kids, the house would have to come first.
IF I could afford to rent an apt. after buying an NSX, I would.
However, since I plan on getting married and having kids, the house would have to come first.
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