Buy a M3 or a House or MOVE OUT to an APT?

Buschy · 11-13-2010, 07:16 AM

stay with your parents and buy all your toys now and get them paid off. Trust me.. if your not married or have kids yet, then once you do that it takes a long time after to get toys..

Any girl would be so impressed if you told them that you hel take care of your parents so that is why you live there.

dibxna · 11-13-2010, 09:19 AM

hey man i had a similar scenario - im 25 and was only a year or two out of college and was approached by my parents to buy a house. I told them i wanted a new car and my dad being a car nut surprised me by saying "cars will always be there to purchase. in fact the beauty of waiting a little bit longer is the same car will be cheaper as it ages. a house that is going down in value right now is rare - real estate is one of the few tried and true positive returns on investment - you dont lose money on real estate unless you sell." so with that advice i bought my first house a couple years ago when i was 22.

i am now 25 and bought a certified pre owned e90 m3 that only had 3,000 miles on it and after putting some saved cash and trading in my other car I dont have a payment at 1200 dollars a month, I have a 765 dollar monthly payment. and a house.

my recommendation is use that money toward a down payment on a good home that will hold value or improve in value as we are bottomed out on the housing market for now. pick up that m after you know your housing budget and can make sure you can afford both. dont forget that living on your own now will have some other expenses like groceries, electric, water, gas, HOA fees, home maintenance, home warranties, house keepers, renovations - all these are things you currently dont really need a budget for as your parents prob. help provide as much of it as they can.

good luck whichever path you take as its a great problem to have that you can afford either.

drvai · 11-13-2010, 09:36 AM

Quote:

Originally Posted by dubiousONE

Here are my questions for all of you. Please give me your honest and humble opinion. I dont care if you think my situation is funny, laugh all you want, but I'm really trying to make the right decision here and want to know what some of yall think.

I am 28 and I live at home with my parents. Not because I cant afford to move out, but because I'm close to my parents and I help with paying for the monthly mortgage on their home. Plus, its SMART when you really think about it. I can save a shit load of money.

I make about 80K a year. Living with my parents has allowed me to save over 100K in my banking account over the years.

My question is.. at my age should I..

BUY A 68K M3 and live at home still at age 28? (I would make monthly payments of $1142 per month)

BUY A HOUSE and not the car? (Pull a $400K loan and make payments of close to $2500 a month)

MOVE OUT and FIND MY OWN APARTMENT and not buy the car? (Rent is about $1400 a month)

DO BOTH, Buy the car and move out? ($1142 + $1400 a month)

Of course I'm trying to think about this in the most logical way.

I want the M3 because its what ive always wanted, but cars depreciate so fast. 68K is a lot of money I can spend doing other things. But I wouldnt want to get any other car. Ill be driving fast and be cool for a year or two, then what?

I want to stay at home because I can save a shit load of money, take care of my parents. But what girl wants to be with a guy who's 28 and still lives with his parents. (Im sure there are some out there like my ex, but I wont get into those details)

I want to move out because its just what I need to do at the age of 28 and buy a home or rent an apartment, live the single bachelor life, but its a waste of money to rent, if I buy I'll always be paying a mortgage until the day I die and my kids (assuming I have some) will take over the payments and the home when I past. So, I'm basically thinking for the future not the present. But life is short (not that short) that I'll always be thinking damn.. I never got a chance to drive a nice car. And, I dont want to drive one at age 78 with my retirement money.

Obviously I'm not sure what I want to do or should do. What is the smart thing to do? Your responses are appreciated!

Buy a house, rent it and stay with your parents.

Mpekable · 11-13-2010, 10:11 AM

I was in the same scenario. This is what I did. 4 months ago, I bought a 3 bdrm home in Socal (mortgage about $2400/mo). I rented out two of the rooms (total of $1500/mo.) and then a month ago, I picked up my E92 M3. My other two cars are paid off, so I'm enjoying the home, awesome roommates and my 3 rides. If you had the choice, always invest in something that will appreciate before something that will depreciate. Also, this way, you will be cool with the ladies, having your own crib.

Wretched Creature · 11-13-2010, 10:38 AM

Nobody knows when the economy and housing market will recover. But they will. Interest rates are at all all time low and it's a buyer's market now. We can make educated guesses about how long we'll be in this mess but we know the facts today. Take advantage of the market and buy a house. You have a good job and are young enough to recover and save for your M3 later.

I was in a similar situation in that I bought my house 2 years ago, but wanted an M3 more than anything. My plan was to happily embrace middle-age and buy myself an M3 for my 40th birthday. Buying the house interrupted that plan. I'm now 41 and will place my order for an M3 sedan any day. There is no question in my mind that the trade-off was worth it. And, it took far less time to recover from the purchase of my home than expected. At 28, you have plenty of time to recover and purchase your dream car. But if inflation goes up dramatically you may lose your chance to purchase a home and start building equity.

baldbuhda · 11-13-2010, 02:50 PM

If it wasn't abundantly clear already by the responses, buy a house!

I'd get the house then get a roomie. The roomie's rent would then pay for that M3!

andrew270681 · 11-13-2010, 03:21 PM

At least buy an apartment if you want to buy the car.
If you rent your Apartment out then you will have very little to pay (on your monthly repayments)

I bought my Apartment when i was 21 years old on my own. Yes it was tough and still is tough but at least i have a roof over my head. I also waste alot of money on cars etc but i always will have my property.
I say take advantage of property prices being cheap. Here in Australia property prices are rediculous and we cop it in the ass with luzury car tax!

bobbyd1961 · 11-13-2010, 04:28 PM

buy a house prices are cheap. do it right and in 10 years you can buy a ferrari

chmura · 11-13-2010, 05:26 PM

I just turned 30 and I closed on a house 2 months ago. I live in Orange County, CA so house prices aren't relatively cheap here. I really really wanted an M3. But I decided on a home. I actually bought a brand new house in North OC for $630k. I put a big down payment so it will take me a few years to recover from that. But I couldn't be happier now. Yes I cannot afford a new M3 now. I'm hoping to be in one in about 4 years.

Where in Ca do you live?

AlterZgo · 11-13-2010, 10:14 PM

Quote:

Originally Posted by dubiousONE

Thats really true, thats why I want to get the M car.. because I could be paying a mortgage payment, which I'll never finish paying by the way even the day I die.. buying a home is a lifetime commitment.. plus, The way I see it is.. buying a home should be a mutual thing between my spouse and me, not just by myself.. I can buy the M car now, and look to buy a home when I truly settle down with an established spouse.. right??

Mortgages are typically 15 or 30 years. Do you plan on living only another 30 yrs? How is a mortgage a lifetime commitment?

As for the wait until I have a spouse to buy a home, remember that mortgage rates and house prices are pretty much at their lowest point. In, say 5-7 yrs when you have a spouse and are ready to buy a house, both mortgage rates AND home prices will likely be much higher than they are today.

I bought my 1st house when I was 24 yrs old for $211K. Lots of my friends waited another 5+ yrs until they got married to buy. During that time, housing prices skyrocketed and they ended up buying similar homes for $500K+.

You're going to be kicking yourself for not getting a 3.875% 30 yr mortgage and buying a $400K house today when, in 5-7 yrs, loans will be more like 6% and that house closer to $600K+.

If you must have the M3, how about splitting the difference? Buy a used M3 for $50K and buy a $350K house or townhouse. If you do this, you MUST buy the house FIRST. It's easier to get qualified for a home mortgage w/o a car payment.

duk · 11-13-2010, 10:22 PM

wth buy a house of course

NYCMCBM3 · 11-14-2010, 01:12 AM

its been 2 years since the 1st post, what did he do? im too lazy to read all the pages

M3M3CAR · 11-14-2010, 01:46 AM

He bought a full loaded m3 convertible and paid cash.. So he Had nothing left after, then he got arested for wreckless driving for drunk driving at 120mph. After he posted bail His job fired him when the news came out followed by his father kicking him out the house. Last I heard the m3 was repossessed by BMW finical services and he's now curently on probation back to living with his parents...

Seven7 · 11-14-2010, 02:25 AM

Buy House...car Last.
Necessities Come First.
After You Get House, Dont Buy A 1st Hand M3, Get A 2nd One.

Leozap · 11-14-2010, 08:08 AM

Quote:

Originally Posted by g0at23

Here is my experience... I am now 25

When i was was 22, I said screw it I am moving out. I was making only 40K a year but many of my friends and co-workers 21-25 were living by themselves and I felt like a little kid living at home. Plus I enjoy being independant and I hate it when I come home and my mommy says eat dinner before it gets cold! There are apples in the fridge you need your vitimans! I am an adult and I hated when my mother, although human nature, treats me like a baby...

At the time I really wanted a G37 or 335i but I just couldnt live in my mothers apartment and drive a nice car. I would feel like a loser, or what is known as "hood rich"

So I bought a used 2000 Nissan Maxima. Got me around. Not too embarassing to drive. It got me around.

Right when I turned 24, I saved up about 50K. During this time if you remembered, banks were so in debt, and houses werent selling. You could easily get a loan for less than 20% down of the house value ( if you have great credit like me). Since the house prices are so down, I could have easily got a loan for a nice house. Or a condo being that I was only 24 makes more sense.

Instead I was still renting and I bought a 335i... STUPID MISTAKE. Many people told me "Dude your young, rent a crappy apartment and drive a bimmer" "Bag the chicks" "get the car" etc. etc.

Now I am 25 and I feel like I reached a new stepping stone. I am no longer in my early 20's. I am heading towards 30 and I wish I would have gotten that $8,500 tax return had I bought property last year. I would have hooked up my condo and it would have been a real nice pad.

Cars get boring. I thought my 335i was the shit when I got it and as you know yourself, it gets boring. You want something new and faster. I want a M3 myself but I am not going to make the same mistake twice. By next year I will buy a property.

I wish I can turn back time and get the place first. I would have saved a lot of money because in 2.5 years from now I will make 120K+ guarenteed. I would be 4 years into my morgage and I would have enough money (baring I dont get married and have kids soon) to buy or lease a M3. Plus I would have a garage to keep the car in, unlike my 335i which gets killed by the NYC weather and NYC drivers who constantly bang up my car while parked.

Take it from someone who been through it and is going through it right now... Get a house... Your also 3 years older which makes even more sense.

You will be making $120+ in 2 years and you just wasted about 50k on the 335i? What is the big loss here? All you have to do now is to save up a few more years and then get a house lol. I guaranty you that if you could turn back in time, you will make the same decision again, you will buy that 335i over again.

V1.47fan · 11-14-2010, 08:36 AM

Quote:

Originally Posted by dubiousONE

Here are my questions for all of you. Please give me your honest and humble opinion. I dont care if you think my situation is funny, laugh all you want, but I'm really trying to make the right decision here and want to know what some of yall think.

I am 28 and I live at home with my parents. Not because I cant afford to move out, but because I'm close to my parents and I help with paying for the monthly mortgage on their home. Plus, its SMART when you really think about it. I can save a shit load of money.

I make about 80K a year. Living with my parents has allowed me to save over 100K in my banking account over the years.

My question is.. at my age should I..

BUY A 68K M3 and live at home still at age 28? (I would make monthly payments of $1142 per month)

BUY A HOUSE and not the car? (Pull a $400K loan and make payments of close to $2500 a month)

MOVE OUT and FIND MY OWN APARTMENT and not buy the car? (Rent is about $1400 a month)

DO BOTH, Buy the car and move out? ($1142 + $1400 a month)

Of course I'm trying to think about this in the most logical way.

I want the M3 because its what ive always wanted, but cars depreciate so fast. 68K is a lot of money I can spend doing other things. But I wouldnt want to get any other car. Ill be driving fast and be cool for a year or two, then what?

I want to stay at home because I can save a shit load of money, take care of my parents. But what girl wants to be with a guy who's 28 and still lives with his parents. (Im sure there are some out there like my ex, but I wont get into those details)

I want to move out because its just what I need to do at the age of 28 and buy a home or rent an apartment, live the single bachelor life, but its a waste of money to rent, if I buy I'll always be paying a mortgage until the day I die and my kids (assuming I have some) will take over the payments and the home when I past. So, I'm basically thinking for the future not the present. But life is short (not that short) that I'll always be thinking damn.. I never got a chance to drive a nice car. And, I dont want to drive one at age 78 with my retirement money.

Obviously I'm not sure what I want to do or should do. What is the smart thing to do? Your responses are appreciated!

Try the Dave Ramsey show,if you can't figure out your finances on your own.

He's really good...

Mr. ///M3 RD · 11-14-2010, 09:26 AM

Get that M3 then find a rich girl to pay for both the car and the house

No all joking aside, when I was 28 I did have the house and an older BMW. Not an M3 mind you.

I just lost a good friend he was 28, he lost control in his M3 on a rainy day overtaking a car then his rear wheels gave away he ended up in a ditch then hit a tree he passed on a few days after the accident on account to injuries sustained (you can see the post about 2 weeks down in the forum). I mention this to demonstrate that life is short.

Save you looking for it here is the link for my friend Mike

Here is what I think you should do.

The car; You are still young, so a new M3 should be somewhat later in your life say when you are 35 or so. Yes if I was in your shoes and age I would get an M3 however, not a new one I get a 2005 or 2006 even. Think about it the M3 is build for the Autobahn and if you find one (and you will) here in North America it will barely have seen 100 MPH not like the cars in Germany. All you need to make sure of is that the car has seen no track time. I got my first M3 in 2005 it was a 2002 and returned to the dealer after a lease by a Doctor.

The House; Now the house as you know is a good investment and right now it is a buyers market as some here have pointed out. So again if I was in your shoes and had the 100K in the bank. Here is what I would do. I talk to a few of my friends that are living in apartments and renting at the moment. I would find 2 of them and see if they would commit to renting from you if you purchase a house (the best deal would be if you find the 2 at your place of work, then the travel cost to and from work can be cut as well). Then once you found them go house hunting and find the house.

Now you can save for the new M3 and the house of your dreams. You should however plan to drive that new M3 before you find that partner for life for it might be too late and then you might just have to wait till you are in your 70's

You see I can say this since I am in my 70's. Mind you I am a car nut and always got what I wanted. I drove my M3 alone 95% of the time so I got myself that little 2 seater toy you see below. I just love that little car it is like 2 cars in one with that retractable hardtop.

Good luck with your plans

MADLUV4M6 · 11-14-2010, 11:15 AM

Take it from someone who has bought 2 houses; buying a house is overrated!!! I would get a luxury apartment and a used M3 with an extended warranty. This would be a win-win situation. You will have the car you want and someone else has taken the depreciation hit. You will also have a luxury apartment that you can feel comfortable in and it will provide you with privacy and independence. When you buy a house, you are responsible for everything and the tax benefit is offset by other homeowner expenses that you pay for throughout the year {mortage payment (which is usually higher than monthly rent), homeowner's insurance, property tax, HOA dues, home repairs that you don't see coming, etc.}. In these days and times I believe that staying liquid (having cash readily available) is more important than non-monetary net worth. You can get what you want and enjoy your life while living withing your means.

E92TTKING · 11-14-2010, 11:19 AM

live in m3

eisenb11 · 11-14-2010, 01:38 PM

Quote:

Originally Posted by quality_sound;

Why not buy both? What bachelor needs a $400K house? In this market you can get a phenomenal house for $200K-$250K and you still have plenty left for your M.

The op is in CA. I'm assuming, southern CA. In many places around here, you need twice what you listed to buy an entry condo and three times that to buy an entry house.

The original post was made 2 years ago and things were even more expensive around here back then. Depending on area, prices would have been 6%-30% higher back then.

Unless moving somewhere farther away and less desirable, like Riverside, $200k-$250k doesn't go very far.

Brandon26pdx · 11-14-2010, 11:04 PM

Quote:

Originally Posted by Sedan_Clan

Lastly, with BMW offering 0.9% financing on 2008 models, not purchasing the car would ultimately result in more money spent on interest (..provided that you financed the car). It is highly unlikely that BMW will ever offer something like this again. Wasting additional money on interest doesn't benefit anybody but the bank.

Welp, 2 years later and BMW is still kicking them out the door at 0.9%

llis · 11-14-2010, 11:07 PM

Get what you want. The housing market is a mess. Good deals today might be sucker deals next summer. This is the last chance to get a true V8 M3. If that matters to you, well, think about it. If any M3 will do, then what's the rush?

11-13-2010, 07:16 AM	#243
Buschy Colonel 289 Rep 2,496 Posts Drives: F80 M3 Join Date: Jul 2006 Location: Dallas/Fort Worth iTrader: (7)	stay with your parents and buy all your toys now and get them paid off. Trust me.. if your not married or have kids yet, then once you do that it takes a long time after to get toys.. Any girl would be so impressed if you told them that you hel take care of your parents so that is why you live there. __________________
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11-13-2010, 09:19 AM	#244
dibxna Lieutenant 45 Rep 587 Posts Drives: 2015 MW F82 M4 Join Date: Oct 2010 Location: arizona iTrader: (0)	hey man i had a similar scenario - im 25 and was only a year or two out of college and was approached by my parents to buy a house. I told them i wanted a new car and my dad being a car nut surprised me by saying "cars will always be there to purchase. in fact the beauty of waiting a little bit longer is the same car will be cheaper as it ages. a house that is going down in value right now is rare - real estate is one of the few tried and true positive returns on investment - you dont lose money on real estate unless you sell." so with that advice i bought my first house a couple years ago when i was 22. i am now 25 and bought a certified pre owned e90 m3 that only had 3,000 miles on it and after putting some saved cash and trading in my other car I dont have a payment at 1200 dollars a month, I have a 765 dollar monthly payment. and a house. my recommendation is use that money toward a down payment on a good home that will hold value or improve in value as we are bottomed out on the housing market for now. pick up that m after you know your housing budget and can make sure you can afford both. dont forget that living on your own now will have some other expenses like groceries, electric, water, gas, HOA fees, home maintenance, home warranties, house keepers, renovations - all these are things you currently dont really need a budget for as your parents prob. help provide as much of it as they can. good luck whichever path you take as its a great problem to have that you can afford either. __________________ 15' F82 M4 :: Mineral White w/ Speed Cloth! :: DCT :: fully optioned minus CCB 09' E90 M3 :: Le Mans Blue w/ silver novillo :: DCT 66' 427 Big Block Corvette :: Maroon :: Straight Piped 56' ford f-100 truck :: NSX blue :: lowered :: custom interior :: custom audio :: colorado custom wheels
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11-13-2010, 10:11 AM	#246
Mpekable New Member 0 Rep 8 Posts Drives: 2008 E92 M3 Join Date: Oct 2010 Location: California iTrader: (0)	I was in the same scenario. This is what I did. 4 months ago, I bought a 3 bdrm home in Socal (mortgage about $2400/mo). I rented out two of the rooms (total of $1500/mo.) and then a month ago, I picked up my E92 M3. My other two cars are paid off, so I'm enjoying the home, awesome roommates and my 3 rides. If you had the choice, always invest in something that will appreciate before something that will depreciate. Also, this way, you will be cool with the ladies, having your own crib.
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11-13-2010, 10:38 AM	#247
Wretched Creature Private First Class 13 Rep 117 Posts Drives: 2011.5 E90 M3 Interlagos Blue Join Date: Oct 2010 Location: Los Gatos, CA iTrader: (0)	Nobody knows when the economy and housing market will recover. But they will. Interest rates are at all all time low and it's a buyer's market now. We can make educated guesses about how long we'll be in this mess but we know the facts today. Take advantage of the market and buy a house. You have a good job and are young enough to recover and save for your M3 later. I was in a similar situation in that I bought my house 2 years ago, but wanted an M3 more than anything. My plan was to happily embrace middle-age and buy myself an M3 for my 40th birthday. Buying the house interrupted that plan. I'm now 41 and will place my order for an M3 sedan any day. There is no question in my mind that the trade-off was worth it. And, it took far less time to recover from the purchase of my home than expected. At 28, you have plenty of time to recover and purchase your dream car. But if inflation goes up dramatically you may lose your chance to purchase a home and start building equity.
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11-13-2010, 02:50 PM	#248
baldbuhda Private 5 Rep 92 Posts Drives: 11 e92 6mt Join Date: Aug 2010 Location: Long Beach, CA iTrader: (2)	If it wasn't abundantly clear already by the responses, buy a house! I'd get the house then get a roomie. The roomie's rent would then pay for that M3!
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11-13-2010, 03:21 PM	#249
andrew270681 Private First Class 9 Rep 164 Posts Drives: E92 M3 Join Date: Nov 2010 Location: Sydney, Australia iTrader: (2)	At least buy an apartment if you want to buy the car. If you rent your Apartment out then you will have very little to pay (on your monthly repayments) I bought my Apartment when i was 21 years old on my own. Yes it was tough and still is tough but at least i have a roof over my head. I also waste alot of money on cars etc but i always will have my property. I say take advantage of property prices being cheap. Here in Australia property prices are rediculous and we cop it in the ass with luzury car tax!
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11-13-2010, 04:28 PM	#250
bobbyd1961 Banned 43 Rep 2,406 Posts Drives: 2009 M3 sedan LeMans Blue Join Date: Jun 2009 Location: new jersey iTrader: (0)	buy a house prices are cheap. do it right and in 10 years you can buy a ferrari
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11-13-2010, 05:26 PM	#251
chmura Colonel 1558 Rep 2,505 Posts Drives: 2019 M2 Competition Join Date: Aug 2009 Location: Orange County, California iTrader: (1)	I just turned 30 and I closed on a house 2 months ago. I live in Orange County, CA so house prices aren't relatively cheap here. I really really wanted an M3. But I decided on a home. I actually bought a brand new house in North OC for $630k. I put a big down payment so it will take me a few years to recover from that. But I couldn't be happier now. Yes I cannot afford a new M3 now. I'm hoping to be in one in about 4 years. Where in Ca do you live?
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11-13-2010, 10:22 PM	#253
duk ///M 158 Rep 3,195 Posts Drives: 2011 AW/FR 6MT E92 Join Date: Jun 2007 Location: Irvine, CA iTrader: (0)	wth buy a house of course __________________ 2011.5 AW/FR E92 M3 6MT
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11-14-2010, 01:12 AM	#254
NYCMCBM3 Colonel 167 Rep 2,711 Posts Drives: 2012 MCB E92 M3 Join Date: Apr 2010 Location: South Ozone Park,NY iTrader: (13)	its been 2 years since the 1st post, what did he do? im too lazy to read all the pages __________________ 2012 MCB///M3
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11-14-2010, 01:46 AM	#255
M3M3CAR Private First Class 27 Rep 197 Posts Drives: 2011 AW, ZCP, DCT, on order.. Join Date: Apr 2010 Location: Arlington, VA iTrader: (0)	He bought a full loaded m3 convertible and paid cash.. So he Had nothing left after, then he got arested for wreckless driving for drunk driving at 120mph. After he posted bail His job fired him when the news came out followed by his father kicking him out the house. Last I heard the m3 was repossessed by BMW finical services and he's now curently on probation back to living with his parents...
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11-14-2010, 02:25 AM	#256
Seven7 First Lieutenant 54 Rep 348 Posts Drives: 2011 M3 E92 Join Date: Aug 2010 Location: Vancouver BC iTrader: (1)	Buy House...car Last. Necessities Come First. After You Get House, Dont Buy A 1st Hand M3, Get A 2nd One.
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11-14-2010, 09:26 AM	#259
Mr. ///M3 RD Happy Camper 613 Rep 7,869 Posts Drives: C63 AMG & 280 SL on Weekends : Join Date: May 2010 Location: GTA, Ontario - Canada iTrader: (0) Garage List 1969 Restored Merce ... [7.50] 2011 M3 Coupe TRADED [7.34] 1987 BMW 535is [1.00] Cars from the Past [6.50] The ///M3 Engine S65 [9.59]	Get that M3 then find a rich girl to pay for both the car and the house No all joking aside, when I was 28 I did have the house and an older BMW. Not an M3 mind you. I just lost a good friend he was 28, he lost control in his M3 on a rainy day overtaking a car then his rear wheels gave away he ended up in a ditch then hit a tree he passed on a few days after the accident on account to injuries sustained (you can see the post about 2 weeks down in the forum). I mention this to demonstrate that life is short. Save you looking for it here is the link for my friend Mike Here is what I think you should do. The car; You are still young, so a new M3 should be somewhat later in your life say when you are 35 or so. Yes if I was in your shoes and age I would get an M3 however, not a new one I get a 2005 or 2006 even. Think about it the M3 is build for the Autobahn and if you find one (and you will) here in North America it will barely have seen 100 MPH not like the cars in Germany. All you need to make sure of is that the car has seen no track time. I got my first M3 in 2005 it was a 2002 and returned to the dealer after a lease by a Doctor. The House; Now the house as you know is a good investment and right now it is a buyers market as some here have pointed out. So again if I was in your shoes and had the 100K in the bank. Here is what I would do. I talk to a few of my friends that are living in apartments and renting at the moment. I would find 2 of them and see if they would commit to renting from you if you purchase a house (the best deal would be if you find the 2 at your place of work, then the travel cost to and from work can be cut as well). Then once you found them go house hunting and find the house. Now you can save for the new M3 and the house of your dreams. You should however plan to drive that new M3 before you find that partner for life for it might be too late and then you might just have to wait till you are in your 70's You see I can say this since I am in my 70's. Mind you I am a car nut and always got what I wanted. I drove my M3 alone 95% of the time so I got myself that little 2 seater toy you see below. I just love that little car it is like 2 cars in one with that retractable hardtop. Good luck with your plans __________________ Cheers, Rolf-Dieter Life will take us to some interesting places, fortunately The ///M3 will too with a many of us know this very well, now my C6.3 AMG with 487 HP does it too ---> Click here for some good stuff I found Last edited by Mr. ///M3 RD; 11-14-2010 at 09:56 AM.. Reason: added the link.
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11-14-2010, 11:15 AM	#260
MADLUV4M6 New Member 8 Rep 8 Posts Drives: Mazdaspeed 6 Join Date: Jan 2010 Location: Ashburn, VA iTrader: (0)	Take it from someone who has bought 2 houses; buying a house is overrated!!! I would get a luxury apartment and a used M3 with an extended warranty. This would be a win-win situation. You will have the car you want and someone else has taken the depreciation hit. You will also have a luxury apartment that you can feel comfortable in and it will provide you with privacy and independence. When you buy a house, you are responsible for everything and the tax benefit is offset by other homeowner expenses that you pay for throughout the year {mortage payment (which is usually higher than monthly rent), homeowner's insurance, property tax, HOA dues, home repairs that you don't see coming, etc.}. In these days and times I believe that staying liquid (having cash readily available) is more important than non-monetary net worth. You can get what you want and enjoy your life while living withing your means.
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11-14-2010, 11:19 AM	#261
E92TTKING Colonel 251 Rep 2,251 Posts Drives: e92 Join Date: Oct 2009 Location: Merica iTrader: (10)	live in m3
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11-14-2010, 11:07 PM	#264
llis octane chick 79 Rep 1,187 Posts Drives: ex-M Join Date: Oct 2010 Location: Colorado iTrader: (1) Garage List 2013 BMW M3 ZCP [10.00] 2003 BMW M5 [0.00]	Get what you want. The housing market is a mess. Good deals today might be sucker deals next summer. This is the last chance to get a true V8 M3. If that matters to you, well, think about it. If any M3 will do, then what's the rush?
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