370z or house?
 

It sounds silly to ask the question, but I am in my early 30 and i have been saving for quite some time now and have been working in the same company for yeears now too. So I really want a Z but at same time i want the house and of course I am not qualified to get both at the same time. what do you guys think? So far I have seen Z owners always have good house to park their car.

House

you need a garage to do all the mods on your Z

House.

Also wait for the next gen Z, current one is Meh by now.

Most normal people would say house.

But A True Z Fanatic(see my title) like me would get the 370z no matter what.:bowrofl: Matter of fact, I wished I could live in my 370z 24-7.:rofl2:

House....These loan rates, these home prices....

This is a very good opportunity to buy a home....

But that has to be your choice...

House, btw, a lot of us have apartments, lol

House, no question.

Car hobby starts with a garage and tools.

House first

Depending on what market you are in you should buy a house as the rates eventually will go up significantly (probably 3rd quarter of 2014) and home prices in most states are now on the rise due to the huge decline (excludes parts of Florida and Las Vegas)

I'm thankful to be buying a house now and have my Z but if I had to choose especially at your age which I'm about the same as you I would say house all day long.

Get a home before the rates and prices go up to ridiculous levels, I'm in Vegas though so it's probably the highest here. Prices are increasing at an alarming rate and investors are forcing first time buyers to buy new. Although, I bought my z last year before buying a home. Lol there was nothing on the market at that time, so I got the z instead.

It's tough. Buy the house first.

House with a garage first... then down the road get your Z... or you might see **** like this happen overnight. I'm so happy I bought a house with a garage now :)

House. The interest % you pay on your home loan is a tax deduction. Your car loan is not.

you can lease like me , get the hell out of it in 3 years. Or if you really like it just take a hit for a couple G's and buy it out.

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.

How about a Z and an apartment instead? :icon17:

HOUSE.... no question about it... and you would want a safe place to put that new Z..:rolleyes:

I have noticed this with new homes. Was looking at a home in November for $150k and its now $190k for the same home. This is in mountains edge. However, existing homes are slow growing.

Im at the same of your age. I don't have a house but i have a Z. I am happy! :)

Sometimes it is good to just do things that makes you happy. There are apartments that have garage.:)


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House = asset
Car = liability

We bought a house four years ago. The Z is two years old. It's a very simple answer :tup:

What part of Northern Cali are you in? Can't find many homes in this market and prices and rising quick.

But yeah, house first. :)

Responsible grown up = house

Which is why I personally would rent and get the Z :p

Sports cars are more fun than houses ... no one ever coined the phrase, "safe as sports cars".

NOTHING is better than having a house that's paid off!
Bought my house at 34, paid it off when I was 48 :happydance:

find an apartment that offers garage parking then go buy your Z....it's a win win situation:tiphat:

House without a doubt. As others said, you need a garage first.

Though warning for first time home owners, be prepared for move in expenses (furniture, appliances, decor, etc). And if you're moving into an older home, repair/replacement costs. My plan was to wait a year before getting a new car, but ended up being 3 years after having to replace the HVAC system and installing double pane windows, plus other unforeseen expenses. Even then, those upgrades are an investment in the house.













Still, part of me wishes I'd bought the Z sooner after finding out how much fun it is to drive :driving: