[roddo]

hi guys
i have a bit of a dilema
do i buy a boat or a house heres why i cant decide.
if we buy a house (it will be our first) we will be buying something we dont really want as at this stage all we can afford is a $350,000 house in the city we live in but we want to live semi rural and will need around the 500-550,000 as we want 4-6 acres,
so should we buy something we wont be happy in or
do we wait 4-5 years to buy exactly what we want and buy the boat ive been wanting for a while now its worth $25000 and would get used every weekend and holidays.
the wife doesnt care either way as she loves fishing as much as me.
what do i do

 

[marco81]

buy the house give it 3 years the house will be worth more then sell it and buy both

 

[GQ WAGHOON]

Buy the house, do some improvements, then in a couple of years sell it at a profit, and buy your dream home.

 

[roddo]

but all we will be paying off on the loan in 3 years is interest so will we really make that much on it

 

[kitiara]

Both are large expensive purchases. One thing I have always believed in when getting something is get something you will be happy with, don't just get something that you can put up with. I have found when I get a lesser item I end up spending a lot extra on it to turn it into something I like better, but is still not as good as the ideal.

Some things to think about though

Consider with the boat purchase (no need to answer here, just consider to yourself) Will it jeopardize your dream house down the line?

Another thing, what are property prices doing in your area and what is urban growth doing? in 4 or 5 years will you have to pay a lot more for a lot further out?

food for thought

 

[Frosty1970]

Your WIFE does'nt care either or,,,, and she likes fishing with you??


Buy a real dump AND a boat!!!!!! OR, send to my place for the week and you can have her on the weekends! Cos I hate fishing!

Where did you find her???

 

[rumcajs]

Buy a boat and enjoy life while you can!

 

[roddo]

im only 25 so plenty of time to enjoy life but i am thinking i will get alot more enjoyment out of a boat then a house at the moment.
and yeah i was pretty lucky with the wife she is cruizy as and she always out fishes me.

 

[T0nka]

Frosty how can you hate fishing! Its the ducks nuts!!

Id go the boat as well, judging by your first post, it sounds as if you have already made your mind up.

 

[roddo]

yeah i pretty much have made my mind up but still not 100% if its the right thing to do.

 

[estcove]

The smartest thing anyone can do is buy their nest. Doesn't need to be flash as long as it's liveable.
When I was 23 I bought a rotten old dump in an industrial area. Neighbours were pretty good as it happened. The house was split into two flats and I got a small income from that. When we had our first kid I finished the tenancy and turned the house back to one living unit.
Stayed there 5 years and sold for five times what I paid for it. Then I bought a decent family house in a good area and also a rental property.

Never looked back. The message is this: buy as soon as you can and be patient. Time in the market is more important than timing. Yeah...I know, being patient ain't easy. Good Luck and be sensible.

 

[Frosty1970]

Frosty how can you hate fishing! Its the ducks nuts!!

Id go the boat as well, judging by your first post, it sounds as if you have already made your mind up.

Fishing sucks!!!! Boat, Beer, Mags! Float downstream!


I made my mind up when my EX took my house, and I can't afford (to lazy) to build a new donk for the ski boat!

 

[Glen84]

Just think buying the boat now and waiting 4-5 years to buy the house means that you are paying off someone elses house for them and all you will have is a boat that will depreciate everytime you take it out and dont forget the expenses involved.

Where as a house in 4-5 yrs you might be able to sell the house and buy the house you have always wanted.

 

[roddo]

i really cant see us making much on the house in the area we can afford so although we will be paying off someone elses which is cheap as chips for us and is alowing us to save uite well we will only really be paying the interest on the house for the next 5 years untill we can afford what we really want.
i understand that boats are a bottomless money pit and i wont make money on it but thats not the reason why i would be buying it its because it will be used to its fullest and we enjoy going out on the water.
cars are also a waste of money but we all have them and some are stupidly expensive thats why i drive a gq as its tough reliable and cost stuff all to maintain that way i can afford to do other stuff aswell.

 

[parscheese]

House is not always a one way bet in terms of increasing price.

Virtually every developed country has had a huge housing bubble that burst with property values plumeting.

Australia has survived so far but like every other country that thought it could never happen Australia is well over due for a massive popping of the property bubble.

No one knows the future for sure but if you can hold off buying a house for the next few years you might pick up a bargain and had plenty of time to enjoy the boat.

Might actually have your cake and eat it too!

Food for thought anyway.

Cheers

Justin

 

[estcove]

I've had a boat or two. The two happiest days in a boat owners life are: When he buys it and when he sells it. The second is happier.
I've said my two cents worth here about buying a house. Read a book. Try either 'The Richest Man In Babylon' or anything by Napoleon Hill. This decision is vital to your future.
You don't get a second chance...although it would be nice.

 

[truckster]

A boat which you will continue forever to tip money into to keep it going it while its value drops like a brides nighty while continuing to pay someone elses house off with rent...

A house which will only increase in value at a stupid rate for ever, can be sold for profit in 4-5 yrs when you *maybe* able to afford acreage.

I dont think this is really a hard decision at all, but thats my thoughts.

 

[roddo]

A boat which you will continue forever to tip money into to keep it going it while its value drops like a brides nighty while continuing to pay someone elses house off with rent...

so are most of the 4x4s on here

 

[estcove]

Last bit of advice. Print out this thread and stick it on your dunny door.
In five years time you can read it again and see who was right and see who knew DICK!

 

[parscheese]

A house which will only increase in value at a stupid rate for ever, can be sold for profit in 4-5 yrs

Simply not true Bruce.

Ask anyone in the UK, Ireland,USA, Spain, Japan and numerous other countries if house prices always go up. They don't.

Cheers

Justin