well, my wife and i want buy a house. $1300 a month in rent is not a good long term idea. i'm trying to avoid this, but with the prices of housing in LA rising at this unbelievable and very unreasonable (tell that to those who're selling their houses) rate, we'd be able to afford a freakin' RV in ten years. so, to save up some extra money, we're looking at corners to cut, including the cars (see my signature). perhaps we'd both end up leasing a civic but our monthly payments on cars is over a grand, and though it's not a big deal, saving an extra 500-600 a month leasing 2 cheap cars seems to be prudent.

i'm just ranting right now, no firm plans yet.

 

Dude...I don't own the S...YET. But I can only imagine what its like to give that puppy up. Especially you of all people with your enthusiasm. Well stud, I'll pray for ya and maybe things will turn up.

 

Ummmm, buying a house when you are trying to cut back seems a bit ass backward to me. Houses cost a lot of money. Mine is modest and the taxes, insurance and payment are nearly $2000/mo. Add to that the fact you've got to fix whatever breaks yourself, you will want to fix it up, etc. You also need to pay all of your own bills, electric (or as we say in Canada, Hydro), gas, garbage, water... It's a money pit, not a cost saving measure.

Weren't you talking about a C Class just a couple of months ago? No offence intended but it sounds like you need some kind of plan. You also need a downpayment. I assume you have one or you wouldn't be posting about it here. I'd suggest looking at taking that faux savings and paying off your debts, like your cars. It will put over a grand back into your pocket each month. If you have debts, then you do not have savings. Just money you haven't paid your creditors yet.

 

I make a tad over 40,000 a year, just bought a house, and will be trading a civic for the S2K when it comes in April. Albeit, I have 2 roommates paying rent. It's all in how you manage your money.

 

mingster ... if you're running a business or company from home you may be better off to invest the money (instead of mortgage) as you should be in a favourable tax situation already.

This is why I don't buy, preferring instead to rent. This can also be a very favourable situation if you're leasing your car as a company vehicle.

Perhaps talk to a good accountant?

 

[QUOTE]Originally posted by wake88
[B]I make a tad over 40,000 a year, just bought a house, and will be trading a civic for the S2K when it comes in April.

 

hey Richard, despite everyone else's comments, I'm in CA and understand the 25% rent increases and the almost 100% increase in housing price over the last 4 years (mine). i say, get the house. As much as I love the S2k too, the house will do you good, and you'll have enough appreciation in the house in a few years to get another car, whether it be a S2k or the new NSX. in the meantime though, I'll see what else I can order from ya to line your pockets a bit, cool?

and to Wake88: avg house in my area (san Jose)is about 500k. LA is a bit cheaper, but the rents are just killer with ridiculous increases over tha past 5 years. An apt I had 4-1/2 yrs ago was $860 for a 650sf 1bd1bth. Same apt now goes for $1880. Yes, a month. Sucks, but thats our reality.

 

[QUOTE]Originally posted by wake88
[B]I make a tad over 40,000 a year, just bought a house, and will be trading a civic for the S2K when it comes in April.

 

I worked part-time temp for 1 year in addition to my regular job to have a significant amount to put down. Bought my first house and first new car (S2000) in the same week!

 

I agree with Cthree. Houses are money pits: be prepared to spend a lot more than the mortgage, taxes, and insurance.

It's inconceivable to me, Mingster, that you'd be without the S2000. On the other hand, I can understand your desire to own a home.