Hi all,
I live in Dallas, TX.
I got my dream car, the 718 Cayman GTS, that I had wanted since I was a kid about two years ago now. With gas + electricity + rent going through the roof...I am debating what to do....
The housing market is nuts, home loans are way up...do you dare buy in this market to avoid rent being ~$2400 a month (+17% since last year)?
Was thinking about selling my car for a decent profit to help with a down payment, but then I'd lose my dream car - and maybe never be in a place again for many years (or ever) to get another...
Just taking some thoughts/ideas from others because I'm stuck...
Need Adult Advice (housing/car sales)
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audi4t
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- Location: Georgia / Connecticut
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Buying real estate is like investing in the stock market.
Values go up and values go down - there are no guarantees.
I've lost money (actual capital) on 2 properties I owned - 1 in Calgary in 1983 and one in Ct in 2013.
It's arguable that owning real estate is a good investment over the long term, when taking into account mortgage interest, property taxes, insurance, repairs, maintenance etc..
There are many articles online that compare home ownership to renting and where investing your money can be optimized.
At the end of the day if you invest wisely you may have substantial assets at the end of your earnings career if you purchase or rent. Owning can be considered one piece of your investment portfolio but is not risk free.
The other aspect of your question is the fun quotient and how much spending is appropriate for life's enjoyment.
I have always taken the view that it's ok to spend money and have a good time.
We should work to live not live to work.
Not everyone can have everything and my situation is not yours - but I hope you can balance your desires and needs and at the same time have a good time !!!!
Values go up and values go down - there are no guarantees.
I've lost money (actual capital) on 2 properties I owned - 1 in Calgary in 1983 and one in Ct in 2013.
It's arguable that owning real estate is a good investment over the long term, when taking into account mortgage interest, property taxes, insurance, repairs, maintenance etc..
There are many articles online that compare home ownership to renting and where investing your money can be optimized.
At the end of the day if you invest wisely you may have substantial assets at the end of your earnings career if you purchase or rent. Owning can be considered one piece of your investment portfolio but is not risk free.
The other aspect of your question is the fun quotient and how much spending is appropriate for life's enjoyment.
I have always taken the view that it's ok to spend money and have a good time.
We should work to live not live to work.
Not everyone can have everything and my situation is not yours - but I hope you can balance your desires and needs and at the same time have a good time !!!!
2024 - 911 Carrera Coupe Arctic Grey (Aerokit)
2023 - 911 Cabriolet Shark Blue / Blue Top (Traded)
2022 - 911 Carrera Python Green (Traded)
2008 - BMW 135i Cabriolet Satin Yellow Vinyl Wrap / Black Top
2023 - 911 Cabriolet Shark Blue / Blue Top (Traded)
2022 - 911 Carrera Python Green (Traded)
2008 - BMW 135i Cabriolet Satin Yellow Vinyl Wrap / Black Top
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Throttlesteer
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I was the kid with exotic car posters on my wall too. I had a sense of urgency when it came to getting something fun. However, I also lived in an area that has a high cost of living and getting a Porsche was not in the cards at the time. Not sure where you are in life, but as the last poster touched on, find a balance. Enjoy life but consider whether or not you're life poor and car rich. Your GTS will eventually depreciate and it won't be worth what it is today. If you're still young, your bigger earning years are ahead of you and you'll likely be able to buy another Porsche.
Nobody has the right answer other than you. But don't create additional stress and anxiety simply for a car. And don't be in a rush to have everything you want. Part of the fun and enjoyment is working towards something and being able to confidently appreciate it. I would hate to have a beautiful car and be worried about making it to my next paycheck.
Good luck!
Nobody has the right answer other than you. But don't create additional stress and anxiety simply for a car. And don't be in a rush to have everything you want. Part of the fun and enjoyment is working towards something and being able to confidently appreciate it. I would hate to have a beautiful car and be worried about making it to my next paycheck.
Good luck!