I'm 23 vol. new car or house/apt

xavier

xavier

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Apr 1, 2010
just getting out the army..... got a good law enforcement job something that pays pretty good


got a decent car.(not by niketalk standards which is a bmw or audi.) but its cool gets me from point a to b got about 90000 miles on it.

i still stay with my folks which i hate no freedom cant bring home broads whenever.... my credit is pretty bad....

which should i get? turn 24 this aug trying to have either one by then.
 
just getting out the army..... got a good law enforcement job something that pays pretty good


got a decent car.(not by niketalk standards which is a bmw or audi.) but its cool gets me from point a to b got about 90000 miles on it.

i still stay with my folks which i hate no freedom cant bring home broads whenever.... my credit is pretty bad....

which should i get? turn 24 this aug trying to have either one by then.
 
I would go with a house. Honestly, having that freedom is priceless, worth way more than any car you can buy imo.
 
I would go with a house. Honestly, having that freedom is priceless, worth way more than any car you can buy imo.
 
Get a house, with the way the housing market is right now you can get some really good deals. Can always cop a new car.
 
Get a house, with the way the housing market is right now you can get some really good deals. Can always cop a new car.
 
I say stay with your folks and build your credit up.

Can you get a house now? Sure--but your interest rate may not be that great. Sacrifice having broads over for a little bit longer and you could potentially save yourself thousands of dollars down the road.

As far as a car goes...same principle. But getting a house easily trumps getting a new car. Btw, buying a new car at your age is one of the dumbest things to do, IMO.
 
house if you can. its better to pay to own something. I had a few friends at school with the same setup as you. They stayed at home or shacked up with a female to get a degree while working so they didnt have to worry about the little things. but they also drove bmw, audi etc.
tired.gif


the freedom to smash as you please is like no other so definitely get your own spot.
 
I say stay with your folks and build your credit up.

Can you get a house now? Sure--but your interest rate may not be that great. Sacrifice having broads over for a little bit longer and you could potentially save yourself thousands of dollars down the road.

As far as a car goes...same principle. But getting a house easily trumps getting a new car. Btw, buying a new car at your age is one of the dumbest things to do, IMO.
 
house if you can. its better to pay to own something. I had a few friends at school with the same setup as you. They stayed at home or shacked up with a female to get a degree while working so they didnt have to worry about the little things. but they also drove bmw, audi etc.
tired.gif


the freedom to smash as you please is like no other so definitely get your own spot.
 
house/apt. Its a buyers market and thats the responsible decision, your car aint gon make you no money bra
 
house/apt. Its a buyers market and thats the responsible decision, your car aint gon make you no money bra
 
i meant to say used car......


company i work for is giving a vehicle also after a yr with them i can take it home...
 
i meant to say used car......


company i work for is giving a vehicle also after a yr with them i can take it home...
 
If you got bad credit, you probably won't be able to get a house. Just chill on both, and start rebuilding your credit.

The house is cool but make sure you're down to live in that location for 5-7 years (and by that I mean turn be willing to down a 25% pay raise to go somewhere else).
 
If you got bad credit, you probably won't be able to get a house. Just chill on both, and start rebuilding your credit.

The house is cool but make sure you're down to live in that location for 5-7 years (and by that I mean turn be willing to down a 25% pay raise to go somewhere else).
 
Originally Posted by North Dade Represent

If you got bad credit, you probably won't be able to get a house. Just chill on both, and start rebuilding your credit.

The house is cool but make sure you're down to live in that location for 5-7 years (and by that I mean turn be willing to down a 25% pay raise to go somewhere else).
Click to expand...

This. The current economy has made banks actually pay attention to who they'll loan money to and their ability to make payments. Work on getting your financial situation solid before putting down on shelter. Get some emergency funds saved so you aren't putting everything on the line with each paycheck. And North Dade has a good point about moving for a better paying job. With it being a buyer's market, if you're stuck with a house when you're trying to move, you're gonna lose a lot of money even if you'd be able to sell the house as you move.

But definitely don't buy the car. What's essential is having one, which you've already got. If you're gonna buy another car though, my personal finance professor was telling us to look for used 3 year old cars. They should still be in decent condition with plenty of life left in them, but the value is brought down to a decent amount due to 3 years worth of depreciation. Unless you can work out a deal for a brand new version of the same car, which is also possible with the current market. I still wouldn't pull the trigger though. What are you currently pushing around though? Because 90k miles isn't that bad if it's a reliable car.
 
Originally Posted by North Dade Represent

If you got bad credit, you probably won't be able to get a house. Just chill on both, and start rebuilding your credit.

The house is cool but make sure you're down to live in that location for 5-7 years (and by that I mean turn be willing to down a 25% pay raise to go somewhere else).
Click to expand...

This. The current economy has made banks actually pay attention to who they'll loan money to and their ability to make payments. Work on getting your financial situation solid before putting down on shelter. Get some emergency funds saved so you aren't putting everything on the line with each paycheck. And North Dade has a good point about moving for a better paying job. With it being a buyer's market, if you're stuck with a house when you're trying to move, you're gonna lose a lot of money even if you'd be able to sell the house as you move.

But definitely don't buy the car. What's essential is having one, which you've already got. If you're gonna buy another car though, my personal finance professor was telling us to look for used 3 year old cars. They should still be in decent condition with plenty of life left in them, but the value is brought down to a decent amount due to 3 years worth of depreciation. Unless you can work out a deal for a brand new version of the same car, which is also possible with the current market. I still wouldn't pull the trigger though. What are you currently pushing around though? Because 90k miles isn't that bad if it's a reliable car.
 
set your budget and get the house...won't make any sense to have the new car and gotta pay for hotel rooms non-stop. ATL said it best, get yourself a foreclosed home with an FHA and/or VA loan.
 
set your budget and get the house...won't make any sense to have the new car and gotta pay for hotel rooms non-stop. ATL said it best, get yourself a foreclosed home with an FHA and/or VA loan.
 
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