bought my home in 2008, z in 2011. no brainer. :tiphat:

If you are young you don't remember 11% Home loan rates ....Super high Inflation years..

If you can lock in a 3.7% rate for 30 years, when the rates rise and you are already in a home, you will look like a genius...

Get the Z and live with your parents. Win win!

But if you really have to choose, a house of course.

I'm still house shopping and the current economic state and questions about whether I'll have to move for the job left me with only one choice for right now. I got a Z to get it out of the way so my credit will clear by the time I decide to buy. I initially wanted to buy in May. But I pushed to August. Three months is plenty of time for credit to stabilize after buying a car. Besides, we'll always have a car payment, right? It's all in timing. And yes, the rates will skyrocket by this time next year. Not to mention inventory in my area (Virginia Beach) has sucked completely for a while now. The last "reasonably priced" new home I found that I kinda mostly liked and thought about placing an offer on went for $353k. It was equivalent to a $190k home where I'm from back in Ohio. Couldn't convince myself to make the $1,900/month payment on a home I didn't think I'd be able to stay in incase the job moved. FYI, I just turned 32. The only hurry I'm in is to lock in a good rate before they go up. Or if I find a house I love then I'll put an offer down immediately.

And the new car thing, it realistically only applies to 30 days before or after to not affect a house purchase/closing. But if you have a house in mind right now that you would love to have, don't even think about a Z.

I would say it depends on where you live. Although, regardless of where you live, money for shelter should trump money for transportation.

thanks guys for all the good comon sense responds. OK I will try to put off buying Z for now(hope I can do that) and get the house first. I just hope Nissan won't do anything crazy that can screw up their next gen.

House first. Simply for the long term effects. The market is recovering right now, but it will fall back down. Primary buyers right now are investors and young couples who can't afford the 20% down payment (and thus don't know what they're getting into). Once the new FHA rules go into effect that don't allow FHA insurance to be removed from a loan, I think the market will slow back down, along with the rental market leveling out, etc. Either way, the home is the better investment. My wife and I are saving up now. I bought the car before we got married, and if I could go back I'd get a beater and we'd already have a home. Live and learn.

Choose the house!

Pretty darn slow incline here in Vegas. My condo is worth half of what I paid for it. Not that I paid much for it. :shakes head:

Get the Z. Then just rent a duplex with a garage. Boom, you now have 1/2 a house and a full Z. Plus you will not have fix anything out of your pocket. More money for mods.

thanks for sharing your experience and knowledge about the house market. I really love the Z so if i get it, i will wash it every week so it makes more sense if i have the house first so i can park it and keep it proteted but sometime is hard to get over the urge of owning the Z. Whenever i drive pass it, i can't stop staring at it :(

I'm in vegas too. Have you seen home prices now though? Primarily new homes? Especially since the sub $215k market is being taken over by investors paying cash. Leaving first time home owners, like myself, having to buy new. I got a reservation on my home and less than a month later the price increased 10k. The new FHA loan rule started April 1st. You can not get rid of your PMI's after your LTV is less than 80% and after 5 years into your loan as you could before. The only way is to drop 20% down and go with a conventional loan. If you have 20% and can qualify for a conventional, I'd go for it now.

If you have to choose between the two, then you're not in a position to buy a Z. A car is about the worst investment you can make. A Z is a luxury and it will depreciate like a falling rock. Real estate generally is a good investment that will appreciate and go up in value over time. Real estate investment is especially prudent in this low interest and bargain price market. Buy the house first. Someday, you'll be able to afford the Z. Then you will buy it and you will be able to genuinely enjoy it. All things in their time.

The Z needs a garage. So house first!

$37K car, 370 sq. ft apartment. The way of life.