Buy a House or Car First, OK? Here are the Considerations!

Hi everyone! I’m Ritesh Sharma. Today, I want to talk about a big choice: Should you buy a house or a car first? This decision is really important and can change your life.

A lot of young people are not sure if they should get a house or a car first. A house is more than just a place to stay. It’s where you might live with your family and a good way to save money for the future. A car helps you move around easily, but it might not be as important as a house if you plan to have a family soon.

In this post, I will help you think about this choice. We will look at what you need more right now, how the prices of houses and cars change, and think about what’s best for your future.

Remember, it’s not just about what you want, but what you need. I will also talk about saving money and other ways to travel without a car.

If you’re trying to decide between a house and a car, keep reading. Let’s figure it out together!

Buy a House or Car First, OK? Here are the Considerations!

The older you get, the more ambitions or goals you want to achieve, to fulfill life’s needs.

Already having a fairly stable income and a salary every month, of course there is a desire within you to immediately allocate this income.

There’s certainly nothing wrong with this, as long as you know what to prioritize and vice versa.

However, among today’s young people, it turns out that many people are confused about deciding whether to buy a house or a car first?

If this is the case, it’s best for you to make wise choices and put your ego aside.

Determining the two things above is not easy because both are necessities.

So, if you are in a dilemma situation like this, let’s look at the following considerations, maybe you can find the right answer!

Think Long Term

When you feel confused and want to buy a car or house first, the first thing you can do is try to consider its use value.

Indeed, if you look at the value of the benefits you will get a lot from owning a house.

Not only is it a place to rest and live, the house will also be a comfortable place to gather with your family later.

Meanwhile, a car is just a tool to help you move from one place to another.

Of course, if you are planning a wedding within 3-5 years, allocating your income to a house could be a wise choice.

Well, but if you still live with your parents, don’t have a companion and don’t plan to get married in 5 years, buying a car can be an orientation to support mobilization.

Recognize Primary Needs

The second step so that you are no longer confused about deciding whether to buy a house or car first, try to identify your primary needs.

Try to classify the needs in life which are usually divided into primary, secondary and tertiary needs.

This aims to let you know what needs are very important and need to be prioritized compared to others.

You need to know that a house is one of human’s primary needs, so if you are confused about choosing between the two, of course you have almost found the answer, right?

However, if you are still confused, maybe you can come back to point one.

Still confused? Try to learn about financial goal planning and ask for help from a financial planner if necessary.

Price Values ​​that Experience Changes

Whatever your choice, buy a house or a car, you have to understand that the price will change. Some are getting higher and lower.

For example, land and house prices, along with population growth and limited land, have caused house prices to soar even higher.

However, this is inversely proportional to cars, which increasingly offer affordable prices.

With a cheap down payment, you can already own a car, it’s tempting, right?

But you also need to remember, if you later resell the car, it is very likely that you will be offered a lower price than when you bought it.

Actually, buying a house or a car, both can be used as investments in the future.

For example, you buy a car and then rent it out, while you can rent out a house as a rental or boarding house.

Both can certainly bring in income and be a decent source of income.

So, which one is suitable and more profitable for you?

See How Independent You Are

Even if you were born into a family that was provided with a home by your family, there’s no harm in having your own.

Especially if you are married or plan to start a family in the near future, you will definitely live a married life and the house functions as a container.

Indeed, there are other options such as renting and still owning the car, but is this the right choice?

Just imagine, you have to think about the cost of renting a rented house, which you can actually allocate to your house installment funds.

A house may seem more expensive, but if you decide to buy a car there are also a number of other funds that have to be spent.

Examples include parking, petrol, service, insurance and others. Of course the cost is not small.

Ready?

Other Mobilization Alternatives Available

Before deciding to buy a house or car first, you must be aware that nowadays there are more and more transportation alternatives.

This, of course, really supports your daily activities.

But if you still want to have your own vehicle, to help your mobility, of course there are many more affordable vehicles such as motorbikes.

Not only is it more affordable, motorbikes will also make activities more effective because they can beat traffic jams.

Even though you may be more tired, you can go home faster and enjoy more quality rest.

Actually, wanting to buy a house or car first is not a matter of desire but of need.

It all comes back to how you prioritize these needs.

Control your ego so you don’t make mistakes in considering your needs and desires.

Then you also need to remember the most important thing, even if you want to buy a house or car later, make sure you don’t forget to save or invest.

You should always try to allocate funds, even if it’s not much, to invest, because investment is very important for your life in the future.