Car or house?

[roydominic33]

So I'm in this stage in my life where I'm torn between choices of where to put my money in. I live far away from the workplace, and because of that I've been thinking of buying a very nice car to drive in. However, I feel that owning a nice house is also quite advantageous. I will be sleeping and eating and doing all sorts of stuff in it that I would never be able to do in my car.

I'd like to know what you think. Is it better to invest first in a motorized vehicle and work to buy a house later? Or vice versa?

 

[Damien Lee]

I bought 3 properties early in my working life, I already sold the one and made a tidy profit. However, I did own a car beforehand but it wasn't brand new, bought it used at a great price. Fortunately, it was fairly reliable and I used it extensively on daily basis. Buy a reliable motor vehicle but don't spend money on anything fancy. Unless you're a sales rep or are in the real estate as it helps to have a nice car to impress upon clients and secure sales. After you've paid off your car, then it's good to start looking into property as they also make for good investments.

 

[Hyrule Chicken]

I feel that you're doing a bit of an "apples and oranges" type comparison. I don't think most people could sustain living in a vehicle instead of a house, as you mentioned. In terms of investment, like @Damien Lee mentioned, you're better off in real estate since the value of your car goes down exponentially as soon as you drive it off the lot.