Thread: What would you do?

Houses appreciate in value, cars never do.

Depending on how thin you`d be stretched, I`d go house....otherwise, I`d wait til you are about to be kicked out ( saving some extra $$$ ) and then buy a house. lol

simple solution in my eyes.
like kuso said houses appreciate and cars dont.
buy a duplex and rent one half...that way it will cover your living expenses and you can afford a car

Not sure about Winterpeg ... but here, you'd be looking at the cost of two houses. We were looking at some here, and they cost $175000 new.

Not sure how old you are, but I'm with Kuso, buy the house. You don't need a big house if it's just you. But using J'Bo's reasoning, if you buy a house, you can rent out the basement or one of the rooms to help with the costs as long as you can stand having a roommate.

Well here you can buy a duplex for $40,000 or less, fix it up and rent out half and live in the other half.

... wow! If that was the case where ponyboy lives, that would be the way to go for sure.

Holy crap! I need to move to Winnepeg! Here in Toronto you're looking at a minimum of $200,000 (in a non crime ridden area) and for a duplex it's more like $400,000.

I like the idea of buying and renting a room out though...then I might be able to handle it.

You probably need a few optoins, in case one falls through. Think carefully about how much you can afford. And that does not mean how much you can eek out every month. You may be debt free right now or have an affordable mortgage, but all it takes is one or two monkey wrenches in the fan to totally screw you up. Not sure what your economy is like right now where you live, but you may consider getting something that you can do some work on and will appreciate in value. Now, when it comes to your car, just how much of a junker is it? Are you concerned from one day to the next whether it will start or not? If that is the case, a high dollar crib won't mean squat if you can't drive to work. Also, you really only made reference to having a "a nice ride". Are you referring to a punanny wagon? They ain't to impressive if you are parking them outside of your cardboard box in some alley. Have you considered buying something gently used? New cars are stupid for someone that may be trying to buy a house too. Remember, buy stuff that suits your needs rather than gives off some impression of some sort of status. That is how people get in deep financial shiat. Always remember the definition of status...

Buying stuff you don't need with money you don't have to impress people you don't even like.

The house would be the way to go, but if you need both, you may need to cut back on the flashiness. Renting out part of a duplex would be a great situation(assuming you don't have pigs renting), but I would definitely have a backup.

What in the world is wrong with a "9" year old car? How many miles on it? Nothing should be internally wrong with it, if its past 80k miles it could be a clogged cat or who knows what, some things have a lifespan which is why they give you a maintenance thing when you buy a car that says check this at xx miles and so on.

This is for prevention and expected lifespan, if you do the work yourself there probably can't be more than $200-$300 wrong with it even if its kind of bad off. Cars nowdays should go 300k miles if treated right, however if you let one thing go bad it will OFTEN affect another.

Bad O2 sensor = car running rich, car runs rich = dumps excess fuel in the cylinders = washes the oil down off the cylinder walls and clogs up the cat yada yada, so a cheap thing like a $35 O2 sensor (or two) can lunch your engine of you let the thing rot.

You are right mudge, cars NOWADAYS are made to run much longer, but this was MADE in '94. I'll tell you, a 9 year old car in Canada looks like a 15 year old care here in the warmer states. They take a beating up there.

Canada, I forgot about the snow and crap (rust cancer). If it were not for that anything fuel injected should last a whup azz long time

Plus low oil flow at startup and yada yada, there is 0w-30 but I dont know how often you guys use that stuff.

In Toronto you have a lot of Japanese studying, and HOMESTAYING!!!

get in on it man

My friend recently bought a house that would rent for around $350 per week ( and morgage payments about the same ). He let his mother live in there ( free ) and rents out the other three rooms to Japanese chicks as homestays, each paying $190 per week. You do the math

Oh man, I remember when dino got a little scratch on her new car and about came unglued. She was worrying about getting it fixed before October. I was like, "what's the big deal?" She yells "RUUUUUUUUUUUUST!" lmao Now I know what she meant. Salt galore...

Hey! What's up numbnuts(aka kuso)?

Had a chat with one of my clients who is a realtor last night. The reality is I simply can't afford the house right now. Even a small place that is cheap (for this city) with a $180,000 mortgage will carry for $1250 a month mortgage, and then with taxes, insurance, utilities, etc, etc on top of that it runs about $1750-2000 a month, which is totally outside of my range, even if I did get one or two people living there. Plus, like BO said if anything happened I would be screwed financially.

Mudge, I agree with you about my car, it's in decent shape (I take good care of it maintenance wise) with only 225,000 kilometers on it (that's 140,000 miles) but I know that within the next six months it will need a major repair (I think the suspension and brakes are ready to go) which would cost more than the car is worth. Plus with my profession I can write off a lot of my car payments.

Guess I'll have to wait for a dual income to get a house. Hey J'Bo, feel like moving to Toronto?

Seriously consider not buying a new car. Even if your car needs major repair once a year, most of the time it is still cheaper than paying the monthly payment and insurance is always higher on a new car than an older one. Save your money for a decent down payment on a house and your mortgage will be less. It is always easier to buy a house and then a car compared to the other way around.

Brake pads/shoes $60 (if that), need rotors or drums? Rotors ~$30 drums dunno.

Shocks/struts, $60 all four corners probably (USD). You'd probably need a Macphereson strut spring compressor, $20 or rent/borrow one.

I don't see labor factored in there. That is where you pay to be raped. lol

Originally posted by BUSTINOUT
Hey! What's up numbnuts(aka kuso)?

hey biatch, hows things?

You just missed me yesterday as I posted that on the way out