[BayMoWe335]

What do we think about driving a newer BMW and living in an apartment? In general, I am talking about a person who chooses to live in an apartment because they choose to drive an expensive car. Not college students.

Should this person be saving for a house or is it perfectly acceptable to be, let's say 30 or over, living in an apartment with an expensive car?

[Crimson92]

omfg

[oner]

I live in welfare housing projects an drive a BMW. Are my priorities mixed up or do I love cars?

[335fourdoor]

wgaf

[jonerik26]

i wouldn't do it that way, but to each his own i guess

[ellipsis212]

i live in Manhattan. should i save up for a house that doesn't exist?

[Majikthese42]

The (brilliant) apartment-dweller wold have lost far less money on depreciation of a BMW than on a house over the last few years.

[Syndicategt]

As long as you can garage your car in the Apt! To each their own, you only live life once and if your priority is to have a nice car then go for it! Financially speaking, now is the perfect time to buy a home and start building equity, and cars are a terrible financial investment. Now if you have bought a home 4 years ago then you would be in a world of hurt, but the housing market has bottomed out (eventhough some experts predict another housing crash do to investors buying up mass reality)

[Alexander]

I live in a town home with a garage simply because I haven't settled down in a city yet, and my bmw is a downgrade from my previous car, but I still by far have the nicest car where I live.

I'm not buying a house until I start my career in a set city. I've been moving around about every year or so now.

[Roowah]

Originally Posted by ellipsis212

i live in Manhattan. should i save up for a house that doesn't exist?

I couldn't agree with you more! It's all a matter of perspective. People need to understand that in certain cities such as NYC or in my case Boston, housing is extremely expensive. A co-op in NYC or a condo in my town, both "apartments", can easily (and most likely) cost more than a large "luxury" home in many parts of the US.

Even renting an apartment in either of these areas most likely is more than a mortgage in most areas.

I'm not sure where the OP is currently residing, but living in an apartment, either by purchasing or renting versus buying a single family house, has no relationship to a person's financial and social status. Would you look down on someone who pulled out of Trump Towers in a Bentley merely because he/she is living in an apartment?

[BMXtreme]

I live in a 900sqft apt w/ my wife. We just can't justify buying a home 2yrs ago, Go figure.

[gun6slinger9]

http://internationalpropertyinvestme...s-in-the-world

scroll to the bottom for the $210 million dollar apartment with panic rooms and security designed by the SAS i dont think you will find a 3 series in there... 7 series for the poor bloke that cant afford the rolls royce and veyron after getting their apartment.

[bsamoul]

Is this thread for real

[Tee212]

I dont see anything wrong with it. Do what makes you happy cause you only live once.

[BrianUNC]

As long as you can afford the car, who cares where you choose to live?

[JayKay335i]

I live in an apt. I choose to.

[chromisdesigns]

Do whatever floats your boat. Literally -- I drove beaters for years so I could have a sailboat. Eventually lived aboard one for 8 years. Now I don't have a boat anymore, but I have a nice car. And a nice house.

It's your life, live it the way you want. If it's a tradeoff between one thing and another, pick the one that makes you happy. If you can't afford either, find something less that will make you happy.

That's the way I see it, anyway.

[caradd]

LOL, I think you just offended a bunch of Apartment Dwellers.

[Ender514]

i live in my car


in all seriousness, do whatever makes you happy.

[Race_Doc11]

The issue is not just a house! It is where this house is? it is better to live in an apt in a better neighbourhood than having a house in a bad one...

[angler]

what do you think?

[nukezero]

Originally Posted by racedoc11

The issue is not just a house! It is where this house is? it is better to live in an apt in a better neighbourhood than having a house in a bad one...

true!

i'll live in a 1000 sq. ft. apt on Rodeo drive in beverly hills for $1500 / mo. versus living in a 2000 sq. ft house in COMPTON or South Central LA for the same price.


Everything is relative! There is no right answer.


you also have to understand there was an article that compared buying a home vs. living in an apartment. And it went to showed that if YOU knew your finances and accounting, that assuming all equal cost, that living in an apartment and saving the difference and putting it in savings compounds faster after 30 years versus the appreciatio of a house. That is also because a savings account doesn't lose equity, only inflation. But a house can not only lose value due to inflation but also due to the volatile market.