Buy NSX, live with rents, or buy house, drive beater

I do not know about your area, but as a Real Estate Agent in CA, I would recommand buying a house over the NSX. According to statistics, here in SO. CA, the houseing price double in an average of every 10 year. Some more and other less. Housing price is high due to high demands (Law of Supply and Demand), high demand comes from mainly population growth (not the only factory, but the most consistant factor). The prime rate had rise from 5.75 to 6.75 during the last year, but housing demand is still high, due to population growth here in CA. Affordable homes are hard to find here in So. CA, and the Housing Medium is well over $500k.

So do a reaserch on the populatin growth in your city/state comparing them to how fast the new homes are being build, that will give you an idea if the populations is out growing the speed of new homes being build, or visa versa.

If the population out growth building speed, than the price will continue to rise, it not the price will fall.

So, I think to buy your first home to live in, to start your own indepandence, it is a good idea. You can always get a NSX later
 
i'm thinking of getting my MBA, i already have 2 BS and a MS.... at this point i kind of lament getting the MS because i cant really use it in my current situation, i think the MBA is a good route mainly because of the different types of individuals you will meet and the immense networking possibilities that will be available to you, even if you are not going to a first rate school. you might not use any of the beuracratic skills you learn, but i think its a good experiece to have, just from the friends you might meet :biggrin:
although my 10 or so friends that have MBA's do lament the lack of use... but i think that is because they didnt change their jobs or lines of work after receiving it... getting an MBA when your an engineer is useless unless you change into a job/position that can leverage your new l33t skillz

although even with an increase of $27k in salary, if you calculate the opportunity cost of not working for 3 years at a base salary rate of $50-$70k, it might take you a a few years to make up for the opportunity cost of not working for 3 years. i'm lucky and i can do it at the same time as work and work pays for it... bwuhahahaha.

anyhow i think the 'older' guys' advice is pretty good, besides... living with parents is no fun :biggrin:
 
NSXnBRLA said:
Pick up women in the NSX and take them to..... Mom and Dad's house?? You make the call ;)
Click to expand...

haha i prefer to pick them up in the 1990 CRX with no carpet :biggrin:
although the only problem is the CRX really is beat past civility...
 
Here is where all the old guys come out..................
Stay at "home" another year. Save an additional $25k. (should be easy)
Buy the house you are looking at now for 10-20%+ less next year.
Get a 15 year loan (with a by savers plan) automatic bi-weekly mortgage
payment (26 payments per year).(get a used NSX in between somewhere)
Own the home in 10 yrs. then start investing / saving like a mad man for retirement. (In addition to your 401k and Roth IRA you already have now)

This is the exact opposite of what the world wants you to do.
The debt bubble is gonna be catastrophic, for some, and great for others.
Just something to think about. :biggrin:
 
I vote MBA. Best career move I ever made. Go to the best school you can get into for your area of interest. Eat ramen, have a good time, study, get out debt free if possible and spend a LOT of time in the placement office to get what you want upon gradution.

If you are not going to do that, I vote live at home and save as much money as you can. I think you'll get a better deal on a house later. As for buying a toy, I don't think its totally impractical provided you buy smart, use it as a 'reward' for saving and minimize depreciation.
 
Some good reading:

http://www.fortune.com/fortune/investing/articles/0,15114,1117911-1,00.html

http://money.cnn.com/2005/10/21/real_estate/exotic_mortgages_prices/index.htm

Local markets may vary, but I would expect lower returns on real estate compared to the past 5 years. Many people think a crash is in the cards. However, I would expect that areas with high growth rates will have more of a soft landing; in SoCal, for example, I would expect either stagnant or below average appreciation until the market stabilizes. In SoCal, there was new construction built to house 170,000 people this year, but about 250,000 people moved here. The demand is real.

Oh, and I'd take the MBA.
 
Im still in college 20 years old and still undecided what i want to do and really kinda confused on my future but one thing i knew for sure was i had a dream and im in love with the nsx so I had some money saved up and borrowed on my own money threw the bank and used a long term loan, i am building credit and have low monthly payments and the good thing about the nsx is you can easily dump it at anytime for a good price and cut your losses, if any.....
 
NSXDreamer2 said:
I'm really sick and tired of the last statement (not from you, but I heard the same thing over and over from a lot of people who had a nice house now.). I'll bet you all my savings (not much anyway ;) ) that you won't be able to do that in next 7 yrs. You got a nice ride before the bubble bust. Don't brag!!!
Click to expand...

1. Nobody was bragging. Instead, I was offering evidence that suffering today can payoff tomorrow.
2. IMO, you're absolutely right that I won't triple my money again in 7 years. But... I never expected to triple my money when I bought my first house, I don't expect to triple my money now, and the fact remains that my financial discipline paid off in spades for me.
3. Even when (notice I didn't say if) the market bubble bursts, I'll still be in a neighborhood I never thought I'd be able to afford, I still won't have any debt other than my mortgage, and I'll still have savings (on top of the 401K and IRA plans).

I'm sorry if my story somehow offends you but as sick as you are of hearing stories like mine, I'm heartbroken to see smart kids come out of school up to their necks in student loans, credit cards, etc. and then live month to month so they can lease the latest, greatest, EVO, Scoobie, wtf it is that moment. Besides, as worried as I am about the real estate bubble bursting, I'm also worried about the inevitable explosion of bankruptcies, etc. when all this carpe diem spending catches up.
 
If you can get into a top 10 MBA program like Warton.. I would recommend that.. otherwise I think experience is better..

Housing bubble is expected to settle down soon.. so wait on buy a house..

Otherwise.. go nuts and buy an NSX....
 
I have heard it said that the best way to live, from a financial standpoint, is to buy the best house you can possibly afford, and drive the least car you can possibly stand.

As a few others have said, the NSX (like all upper-end cars) is a luxury, not a necessity. A place to live is a necessity, and almost always a much better investment.
 
I don't know what the situation there is, but buying a house 'used' te be an investment. Now you need to know that there are more houses than people looking. (at least here)
 
"Dream like you'll live forever...
Live like you'll die tomorrow."

There's something to be said about living in the moment....if you have a chance at such an amazing car, perhaps you should jump on it. However, I waited until the age of 30 to grab mine. At your age I was diving mustangs, Integras, etc.... There's something to be said about living within your means...and at 24, I'd simply buy a decent car (i.e. ~15k used) and focus on pimping my pad (condo, apartment, house, etc).

There's nothing worse than living at home...the fact that you live with your parents is a HUGE problem. You should at least be renting an apartment. I can't think of too many things that are more lame than having a sweet car and living at home. If you're making $50k a year, it's time to leave the nest.
 
khappucino said:
although even with an increase of $27k in salary, if you calculate the opportunity cost of not working for 3 years at a base salary rate of $50-$70k, it might take you a a few years to make up for the opportunity cost of not working for 3 years. i'm lucky and i can do it at the same time as work and work pays for it... bwuhahahaha.
Click to expand...
A lot of the programs (the majority?) are 2 years instead of 3... unless you do the part-time thing but in that case you will have a salary. The part-time route is now more popular than full-time as I'm sure you know. I think in general you can make it back pretty darn quickly, especially at an above-average school. A hell of a lot faster than my sister will be paying off med school! Some MBA programs in other countries like Oxford for example even have 1 year programs now. Would be pretty fantastic to live there for a year and come back with such a baller degree hehe.

I agree that you shouldn't put all your time/energy/money into the future... you're only young once and you never know what could happen, enjoy life. But yes buying a car that expensive is a big, unnecessary investment. Get a car that you will be at least pretty happy with as a compromise. I still love my Integra every time I drive or race it, so that will work for me for a long time. Even when I was considering getting an NSX, I never thought seriously about selling the Integra.
 
i say buy the nsx. you said you had no prob living with your parents. while living with them, pursue an education, save more money, and handle your biz(while driving the nsx) you can always take a chic to the mo if you have to:wink:
 
whatisreal7 said:
the amount of land available to us is exactly the same as it was 500 million years ago (unless you count moving to the moon, but the timeline is so far out it wouldn't affect your investment timeline).
Click to expand...
:D
 
goldNSX said:
Certainly MBA first, then the NSX and when you get older :) a house.
Click to expand...

indeed, a lot of people buying or building a property at a younger age say later that they bought to soon, because at that age they were too much limited by a budget. So everything is just a little to small. to small a garage, too small a bathroom,...

I'm 33 now, and in the process of buying something I could never have afforded at 25.

The NSX tho, is not an investment, just a one-time toy for me. I bought a 1991 for 25,000$ and plan on keeping it for many years, not to say forever.
 
I vote for living with parents & also buying a beater. Okay it doesn't have to be a beater, but for under 10k you can get a decent used car.

I asked a similar question a month ago --
http://www.nsxprime.com/forums/showthread.php?t=57540

and I decided to put off my nsx desires (atleast for now). There are quite a bit of differences in our two situations (although we have a similar age) in that i make more money, have some savings, and have a nice sedan already.
If I was in your situation I wouldn't even consider buying a 20k+ car, especially not if you plan on continuing your education (which I would also recommend).

But to each his own, if you plan on purchasing an nsx, congrats & enjoy it...


Teamu
 

Similar threads

Legobrad90
Is this NSX a good buy?
Replies
2
Views
999
Honcho
Honcho
Track Addict
So, I imported my NSX to Japan.
Replies
22
Views
550
Track Addict
Track Addict
C2 Turbo
Prospective NSX owner
Replies
7
Views
534
C2 Turbo
C2 Turbo
D
Magnum Opus...My Quest for Driving Perfection (1993 Coupe Build).
2 3
Replies
50
Views
2K
DeHaldaswerth
D
RYU
  • Locked
*** SOLD *** Freshly Built: JDM Type R 5spd Manual Transmission (Short Gears + 4.23 Short Final Drive)
Replies
8
Views
832
RYU
RYU
Back
Top