Car or House first

[Hackson]

Yellow e'body

Quick question. Money seems like it is coming in just fine now. I have decided to start buying short to long term items which in this case is a car and a house.

I applied for housing finance last year and got approval for a new development which is still in development. The property is in a public transport friendly area but it is not one that will be conducive to raise a family in if I ever make the mistake.

I need a car because well, Johannesburg needs a car to get around somewhat safely every now and then and also if I got a good enough car, it would allow me to get a better place to stay. I am currently renting.

So my question: what should I get first? And will getting the one first make it harder to get the other from a credit point of view?

Thanks.

 

[Grubscrew]

Obviously depending on affordability etc. But it is wiser to get the house first and then the car.

 

[Other Pineapple Smurf]

Buy the house first unless you are looking at getting a R100K car which comes to R2K pm repayment. Only reason I was able to afford my house five years ago was because I did that, had I gone for the car my heart desired I would still be renting today.

 

[Sumen]

Yellow e'body

I need a car because well, Johannesburg needs a car to get around somewhat safely every now and then and also if I got a good enough car, it would allow me to get a better place to stay. I am currently renting.

So my question: what should I get first? And will getting the one first make it harder to get the other from a credit point of view?

Thanks.

You kinda answered your own question

I don't know how much you can afford a month but try and finance the car for the shortest period you can afford to.

 

[Hackson]

Thanks, my focus here is mainly to ensure that whatever I buy second doesn't come with a high interest rate because of the first.

 

[CamiKaze]

How do you currently travel to and from work?
I feel that it would make more sense to buy a car if and only if you don't have any way of travelling to work, otherwise, I would buy a house first.

 

[namzsteve]

House.

I wish that's what I did 8 years ago lol.

 

[Hackson]

How do you currently travel to and from work?
I feel that it would make more sense to buy a car if and only if you don't have any way of travelling to work, otherwise, I would buy a house first.

So the house/apartment I buy depends heavily on whether I have a car or now. I currently take the gautrain to work and thinking of getting a place within close proximity to the train.

 

[WAslayer]

So the house/apartment I buy depends heavily on whether I have a car or now. I currently take the gautrain to work and thinking of getting a place within close proximity to the train.

I had to make this choice 2 years ago.. Bought the property and never happier.. I would rather have a house to live in than move into my car should *****e ever get that bad.. 6 months ago I managed to buy my car and now I have both..