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Say you got your first real job making some real money..

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When I graduated a few years back I got a good job. I bought my first house by myself shortly after that - at 22 years old. I STILL drive the 93 Beretta that got me through college - now with 225k+ miles and peeling paint. My brother went the opposite way and bought a new Camaro. He calls it the biggest mistake of his life.
 
CTrain is right, though. The poll is definitely not accurate to the real world. People are voting "house" because they know that it's the smart thing to do. Most of 'em will really pick car...
 
If I was 22 and single, it would be a car no question.
But I didn't get my first "real" job until I got my CS degree in 2001. I was 29 and already had a wife and 3 kids. As soon as the job changed from contract to permanent in 2002, we bought our first house.
Of course, we did already have a decent car.
Bought the house for 142k a year and a half ago. Now it's worth about 200k.
58k return in a year in a half isn't bad at all (well, minus the realtor commision when we decide to sell). Not to mention the fact that I paid no federal taxes last year primarily because of the deductible mortgage interest.

EDIT: by the way, why would you save for a house when you can buy one with no money down?
So what if I have to pay PMI, the rates were just too low to waste time saving up a down payment.
 
I had a garbage Hyundai when I graduated from college in '99, so after I had a job for a while I bought a car in early 2000. Obviously a car is not an investment, but there is value in having safe, reliable transportation. I only paid about $16,500 for it (it's a Sentra and I paid it off early) and I intend to drive it into the ground. I now have some savings built up and I am planning to buy a house with my fiancee as soon as she graduates from college and has some steady income (hopefully by the end of this year/early next year).

I don't regret buying the car at all.
 
I got my first real job not that long ago. I was going to buy a car, but I decided not to. Now I'm saving up money for grad school. I think that's probably the best investment I could make at this point.
 
I would definately start saving for the house, especially if I have a decent running car. I could probably sell that house at any time without losing to much on it, if I needed to. It would be good to know that I will have a place to live if I'm out of a job or something...
 
Bleh...everyone is telling me the obvious..

So far i've actually seen 2 people who own a house and still drive a beater and maybe young and single.
The rest who own a house are already about to or already settling down.

So how are the voting 90-30 ??
 
Originally posted by: rh71
Save for a house... I did. I already had a '95 vehicle that's still serving me fine... and you're in the same boat.
Click to expand...

You don't count...already married and are settling down.
 
Well, I am young (25) and own my house (at 23) and still drive and old car. Perhaps not a beater, but not worth more than about $3500. And I voted house. Much better investment. Besides, anyone who is "impressed" by the car you drive would likely be as "impressed" or moreso by the fact that you own your own house.
 
Originally posted by: jwells777
Originally posted by: CTrain
Oh give me a freakin break.
Of course the logical thing would be to invest in a house but none of you would do it.

The question is "your first real job making money"
I don't know of anyone who after getting a real job started thinking about saving money for a house.

Lets ponder this question for a second.
"Its your first real job making some real money"
If this was the case , it means you're not driving that great of a car.
Hell, who here can afford a nice car working at a menial job ???
So if this was the case, most if not all people would buy a "nice" car before even thinking about saving for a house.

When I finally got a job making $30K++ , I bought myself a nice car.
Even though I had a decent looking Accord that would have lasted me another 3 yrs.
My frugal sister whos making $100K++ a year, she even broke down and bought a brand new car for $26K CASH. You don't think she could have used all that CASH to buy a house instead of wasting it on a new car.

Through 32 yrs, I seriously do not know of anyone who after landing a good job, still drive a beater and saved up their money for a house instead..

Let me add another point....most people landing their first real job I'm assuming is <25yrs old.
Do you really think someone in their early 20's would save their money to get a house instead of a car ??
Hell NO....I call this voting BS.
Click to expand...


Ahhh...the American Marketing Machine at its finest. No offense, but just because you value a flashy new car so much does not mean that everyone else does. I know many people that value financial independence far more than keeping up with the Joneses.
Click to expand...

No ofense man but it is the REAL WORLD.
Having a nice car is a status symbol in America.
Young people lust over CARS not HOUSES.
Most American who just got a real first job are likely to look into a car alot moreso than a house.
We all know its stupid, but it is a FACT.
Why do you think so many American are in debt.
Why do you think car threads outnumbered house threads like 20-1...because most of use LUST over cars.

Once again, we're not being logical here......we're talking about reality.
Most of you who chimed in who said they bought a house and still drive a beater are already settling down.
People who are skewing the voting are not being honest with themselves.
 
Originally posted by: BigSmooth
I had a garbage Hyundai when I graduated from college in '99, so after I had a job for a while I bought a car in early 2000. Obviously a car is not an investment, but there is value in having safe, reliable transportation. I only paid about $16,500 for it (it's a Sentra and I paid it off early) and I intend to drive it into the ground. I now have some savings built up and I am planning to buy a house with my fiancee as soon as she graduates from college and has some steady income (hopefully by the end of this year/early next year).

I don't regret buying the car at all.
Click to expand...

This is the perfect scenario that I am picturing.
I'm not talking about buying a Beamer after getting a first decent job but something that is reliable and not ashame to be seen in. Which then you intend to keep it for a while and save up for a house.
Everyone I know went this route.
 
Originally posted by: jwells777
Well, I am young (25) and own my house (at 23) and still drive and old car. Perhaps not a beater, but not worth more than about $3500. And I voted house. Much better investment. Besides, anyone who is "impressed" by the car you drive would likely be as "impressed" or moreso by the fact that you own your own house.
Click to expand...

Nice job but you're the exception...not the norm.
You have to admit that.
BTW, are you single ??
 
Originally posted by: PoPPeR
is a car considered an investment? I think it's more like, would you buy a new car or would you start saving towards a house?
Click to expand...

Save up your money, buy the house with cash, or a huge down payment. Reduces the interest you have to pay on it. Then in 10+ years your house appreciates and you can sell it for much more than you bought it. That is an investment.

Or, buy an expensive car, pay a ton of interest. By the time you pay off the car, it's worth half it's value and will start needing repairs.
 
I think the house route is probably the better choice but in reality I think buying a car is what most people would do. It is a tough call because you are close to the point in your cars likfe where it may just start having things break which sucks big time. If I were you I would go with the car but it really depends on how much you are making and how much you are willing to spend on a car or how expensive the house will be.
 
Originally posted by: CTrain
I don't get alot of you.
The scenario I'm thinking of is you're a recent graduate, I'd say around 22-26 yrs old. You're now making $30+ a yr.
By this time most of you want a decent looking car. I'm not talking about buying a brand new Bimmer or anything like that. If you somehow already have a decent looking car, its a none issue.
I highly doubt any of you would come to your work on a daily basis driving a beater....especially if you are making decent money.

I have 5 brothers and sisters who are frugal(no they're cheap). They know how to save money like crazy but all of them got a nice car after landing a good job. You know some of them are still driving the same car after 8 yrs but thye FACT still remain that the car was still their first purchase.

Another issue is that most people after getting a good job are still young and getting a house is not even a priority at the momnet. Even if it is, there's the issue of "Am I going to be living here for long".
The point of buying a house is settling down and when you're young and single, you're not thinking about settling down.

Yeah, yeah, I know buying a house is a great investment but young people do not think like that.
Most of you who said "well, I'm still driving an old car and bought a house"....Aren't you in some kind of relationship and are settling down ??
Click to expand...


Actually that's actually how a lot of people think. But if you have a functional car what's the point of getting a nicer car? I guess I'm a little biased as I went through this same stage only I was 16 when I got my nice car and it's still working and nice enough for me. I had the get a nice car syndrome. If I was smart I would have bought a house then and rented it to my freinds in college.

A house doesn't imply settling down at all. My goal was to buy a house, get some equity in it, and use it for HELOCs and other creative real estate type things. Maybe I'm different as my ever since I was a kid my dad would be like see my friend? He bought a few houses when he was young and now he doesn't work anymore. If I would have bought houses like he told me too I wouldn't be working either.

I look at it as I'm way ahead of everyone. I drive a modest car that's not beat down, no I'm not settling down and no I'm not in a serious relationship. Do you know how money it is to have all your college friends bring chicks over and they're like is this your parents house? No...it's mine. I mean, if I needed to get a place anyways, why the hell go for a condo, let's just skip that step, be as loud as I want in my own house, and have a great investment.
 
Originally posted by: CTrain
Bleh...everyone is telling me the obvious..

So far i've actually seen 2 people who own a house and still drive a beater and maybe young and single.
The rest who own a house are already about to or already settling down.

So how are the voting 90-30 ??
Click to expand...

I'm 22. I bought my house when I was 21 fresh out of school. I also don't plan to be here for more than 5 years becuase at that time I will be settling down and will probably move up or have this house completely paid off.

In a worst case scenario, I'm young enough where I could sell the house, make 10 or 20k and move back in with my parents and save more money.
 
I'd put it towards a large Yacht 🙂

You can rent a dock or something.

No need to worry about taxes. 🙂 Everything you need is on the boat.
 
I'd probably already have a car by then, so a house. I don't really care for anything fancy as far as cars go (or houses for that matter).
 
Originally posted by: CrazyDe1
Originally posted by: CTrain
Bleh...everyone is telling me the obvious..

So far i've actually seen 2 people who own a house and still drive a beater and maybe young and single.
The rest who own a house are already about to or already settling down.

So how are the voting 90-30 ??
Click to expand...

I'm 22. I bought my house when I was 21 fresh out of school. I also don't plan to be here for more than 5 years becuase at that time I will be settling down and will probably move up or have this house completely paid off.

In a worst case scenario, I'm young enough where I could sell the house, make 10 or 20k and move back in with my parents and save more money.
Click to expand...

Once again, great job but you're an exception....not the norm.
And even you admit as much, you went through the new car syndrome already so once you did get that job, you're priority changed.

Anyone who finally is making some money always got to through that nice car symdrome first.
Their thoughts is "I'll keep this car till it dies and save up for a house"
 
Originally posted by: CrazyDe1
Originally posted by: CTrain
I don't get alot of you.
The scenario I'm thinking of is you're a recent graduate, I'd say around 22-26 yrs old. You're now making $30+ a yr.
By this time most of you want a decent looking car. I'm not talking about buying a brand new Bimmer or anything like that. If you somehow already have a decent looking car, its a none issue.
I highly doubt any of you would come to your work on a daily basis driving a beater....especially if you are making decent money.

I have 5 brothers and sisters who are frugal(no they're cheap). They know how to save money like crazy but all of them got a nice car after landing a good job. You know some of them are still driving the same car after 8 yrs but thye FACT still remain that the car was still their first purchase.

Another issue is that most people after getting a good job are still young and getting a house is not even a priority at the momnet. Even if it is, there's the issue of "Am I going to be living here for long".
The point of buying a house is settling down and when you're young and single, you're not thinking about settling down.

Yeah, yeah, I know buying a house is a great investment but young people do not think like that.
Most of you who said "well, I'm still driving an old car and bought a house"....Aren't you in some kind of relationship and are settling down ??
Click to expand...


Actually that's actually how a lot of people think. But if you have a functional car what's the point of getting a nicer car? I guess I'm a little biased as I went through this same stage only I was 16 when I got my nice car and it's still working and nice enough for me. I had the get a nice car syndrome. If I was smart I would have bought a house then and rented it to my freinds in college.

A house doesn't imply settling down at all. My goal was to buy a house, get some equity in it, and use it for HELOCs and other creative real estate type things. Maybe I'm different as my ever since I was a kid my dad would be like see my friend? He bought a few houses when he was young and now he doesn't work anymore. If I would have bought houses like he told me too I wouldn't be working either.

I look at it as I'm way ahead of everyone. I drive a modest car that's not beat down, no I'm not settling down and no I'm not in a serious relationship. Do you know how money it is to have all your college friends bring chicks over and they're like is this your parents house? No...it's mine. I mean, if I needed to get a place anyways, why the hell go for a condo, let's just skip that step, be as loud as I want in my own house, and have a great investment.
Click to expand...

Actually a friend of mine is in your exact situation.
He got his new car at 19 then saved up like $60K and bought a house at 23.
He is youngest single person I know that own a house but the fact remain that he got a NEW car first.
So in essense you too, got the nice car first and then saved up for a house.
 
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