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General => General discussion => Topic started by: sveed1.8T on 29 December 2012, 01:32
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I have always wanted a Mk4 Golf R32, and to say if has been a dream car of mine is an understatement! A friend of mine has had a blue 3door Golf r32 for 7years, and has always said that he'll sell it to me if I ever had the money! I know it has been looked after, as it has been his baby for so long.
Now, do I say 'Feck it! That's your dream car, and you only live once!'
Or, do I keep the money I have saved and still aim to put down a deposit on a house?? :undecided:
Either way, I don't have the money to do either atm, as he wants £6K for the R32, and a deposit for a house will be about £14K. I would have to get a couple grand loan to buy the golf.
Decisions, decisions?! :lipsrsealed:
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You need a lot more than £14000 for the house. Will cost £2000 to go thought the middle man then another £2000 on a sofa and fridge freezer.
Don't get a loan it's faster to save than pay it back.
Buy the car if you don't plan on keeping it, selling it to buy a house.
Otherwise keep saving
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House wins for me.
I was more or less in the same boat. The money I'd put into the car I could have bought a few R's but I still really want one. But this time last year I bought a house best thing I ever did hands down. You'll need round 10% plus about £900 for other fees, and then what you want to do to the house once it's yours
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I have always wanted a Mk4 Golf R32, and to say if has been a dream car of mine is an understatement! A friend of mine has had a blue 3door Golf r32 for 7years, and has always said that he'll sell it to me if I ever had the money! I know it has been looked after, as it has been his baby for so long.
Now, do I say 'Feck it! That's your dream car, and you only live once!'
Or, do I keep the money I have saved and still aim to put down a deposit on a house?? :undecided:
Either way, I don't have the money to do either atm, as he wants £6K for the R32, and a deposit for a house will be about £14K. I would have to get a couple grand loan to buy the golf.
Decisions, decisions?! :lipsrsealed:
The fact that u would still need the loan to buy the r32 which will only just depreciate further is a silly idea mate.... Nothing stopping u getting a house then getting an r32 mate at the end of the day it's up to you but a place to put my head at night and not pissing money against the wind would be my choice
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Having bought a house this year, for me it's a no brainer! House wins every time.
Bear in mind though that with the house it's more than just deposit....you've got solicitors fees, surveys, mortgage search fees, stamp duty etc.
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Some good advice here. My toys suffer neglect due to having my own house and responsibilities but the house and the people close to me come first.
It really depends on your situation too, where are you living at the moment? how long can you stay there, how much is it costing you to stay there? Are you single? Lots of other things can come into it, also.
The other thing to bear in mind is that once you get your own house, you'll most likely want to spend money on it making it your own which could leave you with very little funds or time for an exotic car. I tried to kid myself that once I bought my house and moved into it I would be straight on the car, that wasn't the case for a long time and can still be at the bottom of the list but I don't regret it.
If I was you and had as much money as you have saved up towards a house, the way things are in this country these days I'd probably keep on saving.
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i have got £100k+ for a house deposit and rising. :lipsrsealed:
i bought a £475 car and have scrimped to get a set of wheels and lower it.
dream cars come and go. I regret the amount I have spanked on cars n bikes over the years which has now left me renting, thus throwing away money.
Keep saving and get a house. :smiley:
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The other thing to bear in mind is that once you get your own house, you'll most likely want to spend money on it making it your own which could leave you with very little funds or time for an exotic car. I tried to kid myself that once I bought my house and moved into it I would be straight on the car, that wasn't the case for a long time and can still be at the bottom of the list but I don't regret it.
Nail on head there Shaun, certainly in my case anyway! Since I've moved in any spare money I have each month has been put towards making the house look nice.
Come spring time I'll be moving onto the garden, I've not spent a penny on mods for the golf in months simply because the house is more important to me.
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House all the way, get on the ladder soon as the Ferris wheel has gone past bdc.
My flats gone up 5% since last year, thats 10k in real terms.........
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2 week snow boarding somewhere awesome then back to saving :whistle:
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Hmm :undecided: You guys are echoing what my sensible side is telling me.
I'm currently renting in London, but my plan was to buy a house back in Cambs and rent it out, as I don't see myself leaving London for at least another 5 years. Even if I was to scrimp, I'd struggle to get a place in London (not that I would want one, as the prices are ridiculous for what you get)! :sick:
This is an investment plan, more than buying somewhere to live. Then when I move back to Cambs, I'll have a place that will have been paying for itself. But this is fast forwarding 5+ years.
Saving is soo boring though :sad:
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House for me :smiley: .
House = Investment, equity, security etc. etc.
R32 + current fuel prices = no further saving at this time
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Hmm :undecided: You guys are echoing what my sensible side is telling me.
I'm currently renting in London, but my plan was to buy a house back in Cambs and rent it out, as I don't see myself leaving London for at least another 5 years. Even if I was to scrimp, I'd struggle to get a place in London (not that I would want one, as the prices are ridiculous for what you get)! :sick:
This is an investment plan, more than buying somewhere to live. Then when I move back to Cambs, I'll have a place that will have been paying for itself. But this is fast forwarding 5+ years.
Saving is soo boring though :sad:
You want to buy a rabbit hutch in London mate, it will never drop like the rest of the country and always make enough to pay for itself in rent if you move back to the sticks.
Saving is sad and boring, but I wished I saved more instead of buying crap cars in my early 20's :grin:
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Hmm :undecided: You guys are echoing what my sensible side is telling me.
I'm currently renting in London, but my plan was to buy a house back in Cambs and rent it out, as I don't see myself leaving London for at least another 5 years. Even if I was to scrimp, I'd struggle to get a place in London (not that I would want one, as the prices are ridiculous for what you get)! :sick:
This is an investment plan, more than buying somewhere to live. Then when I move back to Cambs, I'll have a place that will have been paying for itself. But this is fast forwarding 5+ years.
Saving is soo boring though :sad:
You want to buy a rabbit hutch in London mate, it will never drop like the rest of the country and always make enough to pay for itself in rent if you move back to the sticks.
Saving is sad and boring, but I wished I saved more instead of buying crap cars in my early 20's :grin:
Not a fan of the city, been living here over four years now! :undecided: One word, DEPOSIT!! :sick: At least getting a deposit on a house in the sticks is viable, and certainly achievable in the next couple years. Cambridge and the towns around it have always had good investment opportunities, due to the rail links into London :smiley:
I am extremely surprised that no one on here has said 'Go for the R32' though! What's happening to us forum users?? Becoming old, reserved and sensible?! :laugh: :lipsrsealed:
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House first and then buy your cars.... Boring and sensible advice but once you have your own front door you'll appreciate this option :wink:
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House first and then buy your cars.... Boring and sensible advice but once you have your own front door you'll appreciate this option :wink:
Yeah, well boring, as it also means less money for mods! :undecided:
I might need to go and slam my Derv and get it mapped as a consolation for backing away from the R32! :whistle:
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Buying a first house to rent out so you can continue renting?
That sounds a bit over-complicated for a first purchase and you won't have it so you can live in it and enjoy it. Sort of a fail-fail.
Buy to live in first, buy to let out second would be (and indeed was) my approach.
Gives you a bit of experience of property ownership and a flat in London will let out easily IF you decide to move back to Cambs, or you can buy a second larger flat in London as you develop.
Buy the f*cking R32 and have some fun, but don't buy such an new one!
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I am extremely surprised that no one on here has said 'Go for the R32' though! What's happening to us forum users?? Becoming old, reserved and sensible?! :laugh: :lipsrsealed:
Buy the f*cking R32 and have some fun, but don't buy such an new one!
There, somebody said it. Not sure how genuine it is though. :grin:
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You can sleep in your car but you can't drive your house. :tongue:
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You can sleep in your car but you can't drive your house. :tongue:
Or.................
(http://image.trucktrend.com/f/towing-and-hauling/volkswagen-passat-estate-wins-2007-towcar-awards/6487929+w700+cr1+re0+ar1/volkswagen-golf-match-19-litre-tdi.jpg)
It's the future! :grin:
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You can sleep in your car but you can't drive your house. :tongue:
Or.................
(http://image.trucktrend.com/f/towing-and-hauling/volkswagen-passat-estate-wins-2007-towcar-awards/6487929+w700+cr1+re0+ar1/volkswagen-golf-match-19-litre-tdi.jpg)
It's the future! :grin:
Brilliant!! :laugh:
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Blatantly the wrong suggestion:
(http://allrad-magazin.de/_media/images/VW/08/California_Campingszene_02_800.jpg)
(http://blog-imgs-11.fc2.com/b/r/2/br203/Transporter-4Motion-LP3hr.jpg)
That's doing it right. Yours for 30k Euros
Or on a tighter budget - a TDIed T25 Syncro like this:
(http://image-storage.net/vw/syncroand101/syncroand101_vw_06.jpeg)
Around £10-12k in good nick.
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Buying a first house to rent out so you can continue renting?
That sounds a bit over-complicated for a first purchase and you won't have it so you can live in it and enjoy it. Sort of a fail-fail.
Buy to live in first, buy to let out second would be (and indeed was) my approach.
Gives you a bit of experience of property ownership and a flat in London will let out easily IF you decide to move back to Cambs, or you can buy a second larger flat in London as you develop.
Buy the f*cking R32 and have some fun, but don't buy such an new one!
I agree with all of this except the R32 bit, unless its a Nissan Skylard R32 :grin:
Fully understand the deposit bit, buying in London is never cheap but that's due to the potential return of the investment.
Even in the depths of recession a flat in London will always sell or let.
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Having just bought a house, I say house deposit.
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DH I love my campers, you know I have one. I would have suggested it too but my suggestion was trying to give the guy an option of having his own home and an R32. :grin:
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for me it would always be a house, unless it was something really special, alot more special than an R
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id buy an r32. houses aint all that.
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id buy an r32. houses aint all that.
Yeh in most cases it's an investment that you see a return and a roof over your head a lot more important than an r32
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Just do a James Martin, he lived in rented flat above a chinese take away sleeping in a sleeping bag but had a ferrari parked outside
saying that now is a goodtime to buy a house, i just got a sickner of houses as i bought at wrong time
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Even in the depths of recession a flat in London will always sell or let.
Not true.
I know of at least 5 people who bought places in London (some several years ago before the market crash, some more recently), but when they've come to sell and move out of London, they've not been able to sell. Result: nearly all of them are now renting them out. The other family are living in a 2 bedroom flat with 3 kids because they can't sell.
I would say, given the market, don't buy in London unless you plan to live there for a good long time.
If you're expecting to save a 14k deposit, if that's a 5% deposit, then that's a £280k mortgage, but would your salary be able to give you that?
A lot has to do with your circumstances.
Is your job secure or are you contracting?
Will you be able to get another job outside of London to achieve the ambition of living elsewhere?
Do you have family and where are they?
Are you single?
If you weren't single, would you stay in London for them?
If you are stuck in the position of needing to keep the current job in London for some time but don't want to live in London, could you buy somewhere outside of London and commute (baring in mind rail fares have gone up) ?
I moved to London for a job and to be near my girlfriend at the time.
Rented a place, got married, tried to buy a place but the market crashed and now can't get enough for a deposit. Then we had kids.
I also am in a media job that is very difficult to find anywhere outside of London.
While you have funds spare to save, do it. Get that deposit because you never know what's going to happen in your life.
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Buy the R32, you won't be getting any enjoyment out of the house while your living in London anyway and by the time you move in you'll be 5yrs older, maybe wife and kids and then theres no chance of owning a R32 cus all your money goes on mortgages and nappies and you'll spend the rest of your life wishing you'd done it while you were young.
You won't need to spend loads of money on mods cus the R32 has it all already!
Then when your ready to move out of london sell the car and put the money down on a deposit, it won't depreciate too much as it will always be a desirable motor and may even go up in value if looked after. The housing market isn't doing much at the moment and if prices start going up you can sell the car and get in while house prices are low.
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Some interesting words of advice here... As it stands, I'm swaying towards the boring sensible option of saving up the deposit :lipsrsealed:
Even in the depths of recession a flat in London will always sell or let.
Not true.
I know of at least 5 people who bought places in London (some several years ago before the market crash, some more recently), but when they've come to sell and move out of London, they've not been able to sell. Result: nearly all of them are now renting them out. The other family are living in a 2 bedroom flat with 3 kids because they can't sell.
I would say, given the market, don't buy in London unless you plan to live there for a good long time.
If you're expecting to save a 14k deposit, if that's a 5% deposit, then that's a £280k mortgage, but would your salary be able to give you that?
A lot has to do with your circumstances.
Is your job secure or are you contracting?
Will you be able to get another job outside of London to achieve the ambition of living elsewhere?
Do you have family and where are they?
Are you single?
If you weren't single, would you stay in London for them?
If you are stuck in the position of needing to keep the current job in London for some time but don't want to live in London, could you buy somewhere outside of London and commute (baring in mind rail fares have gone up) ?
I moved to London for a job and to be near my girlfriend at the time.
Rented a place, got married, tried to buy a place but the market crashed and now can't get enough for a deposit. Then we had kids.
I also am in a media job that is very difficult to find anywhere outside of London.
While you have funds spare to save, do it. Get that deposit because you never know what's going to happen in your life.
I was looking at a little 2up 2down round Ely (North of Cambridge) which can be bought for about £120k-130k. Having a £14k deposit, would be my 10%.
My job is secure, and I have a salary of over £30k per annum and no debt.
I would be able to transfer out of London, but I will look to do this when I am about 30 (5.5years from now)
All of my immediate family live in Cambridgeshire
I am single (which is why I am able to save :grin:)
Rail fares wouldn't affect me much, as I have discounted travel.
I know a lot can happen in 5 years, but I want to aim to achieve my plans, and if it goes tits up I'll have to re-evaluate! There are no women on the cards to warrant worrying about kids just yet :grin:
Kids = No money (although they bring you things that money will never buy). :smiley:
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Hahaha car all the way!
I had saved up for 3 years for a house deposit. When it came down to the crunch I couldnt part with the money I had saved up for just some bricks. So I went down to the local VW garage and bought a mk6 GTD :laugh:
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Suppose it depends on whether you wanted to pay your own mortgage or someone else's whilst you rent :whistle:
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Hahaha car all the way!
I had saved up for 3 years for a house deposit. When it came down to the crunch I couldnt part with the money I had saved up for just some bricks. So I went down to the local VW garage and bought a mk6 GTD :laugh:
Sounds like a great investment :whistle:
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Haha sarcasm much! I know what you mean and financially I did make a bad decision.
But hey, what else could you expect from a 22 year old :grin:
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I bought in a boom had I bought earlier in the slump I would be laughing more than I am now with less than the 12 years i have on my mortgage and sh!t loads more equity.
Instead I thought it would be a good idea to run a 240 turbo with insane boost and a new set of rear tyres every 3 months.
Was fun but all I want now is a workshop in the garden, given all the stupid things I did I think now I really pissed away too much money on cars.
End of the day do what you have to make yourself happy :smiley:
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There is no reason why you cant do both here.
First off you need to get the house, this is a no-brainer. Without a doubt it is the best investment you will ever make, cars depreciate even well looked after classics may gain but an R32, a great motor nonetheless, is not a vintage Ferrari . Bricks and motor fluctuate in price daily but will always hold their footings.
6 years ago I bought a house with my girl and could have slapped my deposit down on a brand spanking mk5, but I didn't, I've waited ten years but have recently bought a decent mk2 and am in the process of having a full engine rebuild, all this at the same time as paying the mortgage/ bills etc.
I earn 22k per annum and my mrs is on minimum wage, but I still have money to put on the motor plus have a good holiday to the Caribean every year without borrowing or credit cards. If your raking 30k a year, careful planning and you can have both with no probs! :smiley: