too imperative to be off topic

[Edwardo]

Originally posted by naaman:
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.

I am looking at an NSX purchase more in this light than in a purely financial one. If you are married/planning on getting married and having kids...the house is the only correct decision.

Another important factor is your career/life goals. Do you think you may need to relocate? Do you think you may just want to travel or move for the sake of change/adventure? If so, purchase the NSX.

In my opinion, if you do not NEED a house and you are young...go for the NSX. I say this because I am a true car nut. Furthermore, I think the NSX is one of the greatest cars on planet Earth. I would make sacrafices to own one. That is just me. Important point is that I think one must feel this passsion that I do to make the sacrafice.

 

[bugsbunny]

BUY the freakin house!

Fix it up!

Apply for a Second Mortgage!

Buy the car!

Then let Uncle Sam allow you to deduct the intrest on the mortgage.

NOW YOU HAVE BOTH!

 

[POWERED by HONDA]

House, definitely.

 

[ak]

NSX!!! Well, that was my choice. I really don't think it is necessary to have a house right after college. It really depends on what your priorities are I guess. Myself, I'm single and no family responsibility(kids, wife). Plus, if you buy a house, that's a commitment. Do you plan to stay in the same area for long? How do you know fresh out of college if you don't want to move in 1-2 years to seek new opportunities?

I'm looking for some stability in my life both personal and professional before plunging into the real estate world. Till then, I plan to enjoy my youth.

 

[sexytoy]

House first. Car second. You'll need a garage for the baby when you bring her home...



------------------
Good things come to those who wait

 

[Joel]

I cannot believe it took me this long to answer this.

This is a tougher decision for some, more than others. I know it is for TheBigRice or else he wouldn't have posted this thread.

I'm not about to tell you what to do. But, I will tell you my opinion and my side of the story.

I graduated from college pretty recently and have been stuck with the same car since I was a student. It's pretty reliable and I've kept it; which is perfect reason for me to have a weekend car like an NSX. (Besides, it's paid off).

Life has accorded me the means to attain the NSX right now. My rent is so ridiculously low that I am able to this. Also, I've attacked my debt aggressivesly and am actually almost debt-free. I think this is really important because you need to eliminate as much current debt before you get into more debt. So, I am an advocate for getting the car--for now.

Now some of the more "mature" and wiser owners in here will tell you that you should go for the house first. Some of the younger enthusiasts will tell you however to go for the car. See a pattern? Okay maybe not since you can't really tell people's age.

It really boils down to this (as someone had mentioned earlier): What do you NEED right NOW! Are you dying to get a house? Or are you dying to get the NSX? It's really not fair to tell a young college grad to keep waiting for the NSX especially when it can serve as a positive reinforcement. I view it as a reward after 4 years of putting yourself through college. Now, I'm not saying that a house can't do the same, but it doesn't have the same "fun" factor.

For me, I'm not really crazy about the idea of locking myself in for a 30-year commitment of monthly mortgage payments as opposed to a 60 month deal for a car. I'm single, not married, no kids to feed...so what am I going to do with a 3 bedroom house?

My situation is logical for me. That's why I'm opting to forego the house at this time and enjoy the extravagance of youth. When I decide to marry, obviously priorities are going to shift and the house is more practical. At that time, the car will have to go. Besides, with a house, it really is better to pay the mortgage with a 2-income household (me and a wife). That way I don't have to shoulder the ENTIRE burden of house payments with my sole paycheck.

Now like I said, I'm not telling you what to do. If you have about the same situation in life right now as I do, then benefit from what you can get out of my post. If your situation is otherwise, then don't go for the car. It is, after all, a luxury item.

You're a big boy. You can weigh the costs and benefits yourself.

House. Car. What's it gonna be? YOU decide.

 

[sjs]

Originally posted by TheBigRice:
... Please be objective here as this decision will define the rest of my life.

That part says it all. It's not so much house vs. car (I've yet to find the right house), but if your finances are such that buying the car will have that kind of impact then you are not ready for one. Yes lot’s of people do it anyway, the future be damned, and the rest of us pay for it every time one of them files bankruptcy. Cripes, I hate to sound like an old guy, but young folks just don't seem to have sensible priorities. Everyone feels the need to posses things they simply can't afford and hock their futures to get it. No offense to all of you, but grow up a bit and realize that these are $5 toys in the store and you aren’t 6 years old anymore. The first sign of maturity is making tough but sensible choices, especially about money. I’m not saying don’t have any fun, just live within your means and look past tomorrow.

OK, enough old guy talk. Sorry.

 

[Joel]

To each his own...