Buy a GTR or a House?

birdmanx1 · 10-06-2011, 01:04 PM

Bacal, this article might come in handy...
Home Mortage Rates Drop Under 4%

Isamu · 10-06-2011, 02:23 PM

Quote:

Originally Posted by birdmanx1

Bacal, this article might come in handy...
Home Mortage Rates Drop Under 4%

3.75% for my mortgage!! F YEA!

birdmanx1 · 10-06-2011, 02:27 PM

Quote:

Originally Posted by Isamu

3.75% for my mortgage!! F YEA!

FuszNissan · 10-06-2011, 02:48 PM

Well, they are both deprecating assets right now...

Spikuh · 10-06-2011, 02:54 PM

Quote:

Originally Posted by bacalhau16

I can already foresee some of the questions coming, so here is what I meant buy "saving" money while owning the GTR.

370Z payment = $635/month
mortgage pay = $1050/month
plus all other bills, cable, electric, oil, water etc. We will call it $400/month

or
GTR payment = $1100/month
Rent Payment = ~$450/month
Plus all other bills, cable, electric, oil, water etc. We will call it $400/month

So, in reality, I would loseabout $265 a month and own a GTR.

(Yes, Im playing devils advocate and having fun with this discussion. Go with it.)

Bit more accurate now.

Spikuh · 10-06-2011, 03:04 PM

Quote:

Originally Posted by LONDON2012

As far as house or save up money, in general, I think it depends on rent prices. We bought a house at 4.25% interest, but everything combined mortgage insurance, prop tax, house insurance, loan, it all comes out to $75 a month more than what we were paying in rent for a two bedroom one bath apartment. We bought what most people consider a starter home: 1600 sqft, 4 bed, 2 bath. We plan on living in it until retirement though. We don't have a very good emergency fund saved, but with the costs of renting and owning being similar, we felt that it made sense to buy at this time.

I guess all that to say that I think buying a house can still make sense in this environment. Also the Fed is going to keep interest rates low for the next 2 years, and obviously the inventory is huge, so I don't think there is any rush. Buy if you have a long-term plan and can visualize how owning a home will help meet your certain long-term life goals.

Best advice right here for anyone. Always, always, always do the math.

And good luck with your new home. Hopefully your market will continue to grow and you can build up some good equity in it.

Isamu · 10-06-2011, 03:04 PM

Quote:

Originally Posted by birdmanx1

yea man... and I get 100 bucks off my closing costs LOLOLOL

birdmanx1 · 10-06-2011, 04:00 PM

Quote:

Originally Posted by FuszNissan

Well, they are both deprecating assets right now...

hahahaha you had to bring that up Fusz!!!

Quote:

Originally Posted by Isamu

yea man... and I get 100 bucks off my closing costs LOLOLOL

That's so full of win!!! If you luck out you might even get a few more $$ in a few months. The title company made a mistake during my closing, they found out about it almost 1.5 year later as part of audit. I ended up getting an unexpected check for a few thousand $$

Isamu · 10-06-2011, 04:15 PM

Quote:

Originally Posted by birdmanx1

hahahaha you had to bring that up Fusz!!!

That's so full of win!!! If you luck out you might even get a few more $$ in a few months. The title company made a mistake during my closing, they found out about it almost 1.5 year later as part of audit. I ended up getting an unexpected check for a few thousand $$

I would LOVE for something that epic to happen to me...

but I got a coupon in the mail from my bank for 1% off any loan that i have that comes directly out of my checking account LOLOLOL

wilsonp · 10-10-2011, 12:31 AM

Planning to live in 1600 sq ft for that long is impressive, or a super early retirement is even more impressive!

10-06-2011, 01:04 PM	#91 (permalink)
birdmanx1 A True Z Fanatic Join Date: Jun 2010 Location: Baltimore, MD Age: 96 Posts: 3,175 Drives: 370z Nismo Rep Power: 24	Bacal, this article might come in handy... Home Mortage Rates Drop Under 4% __________________ 370Z NISMO #0462 \| ClearBra \| 3M tint \| Head/Taillights \| Dynamat \| Black Roof \| Tommy Kaira HB \| CF Parts \| Berk HFCs \| FI SS \| NST Pulleys \| Takeda aFe \| K&N \| H&R Spacers \| Swift Spec R \| SPC F&R \| Zuperman M370 Nismo Vid \| Nismo Journal \| Nismo Rumble

10-06-2011, 02:48 PM	#94 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	Well, they are both deprecating assets right now... __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

10-10-2011, 12:31 AM	#100 (permalink)
wilsonp A True Z Fanatic Join Date: Jul 2010 Location: Virginia Posts: 1,134 Drives: 2009 Touring Sp Nav Rep Power: 17	Planning to live in 1600 sq ft for that long is impressive, or a super early retirement is even more impressive! __________________ 2014 Cayman S PDK Sport Chrono White/Black Was 2009 370Z Touring Sport+Nav 7AT Metallic Black/Persimmon Was 1991 NSX Auto Black/Black

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