What should one own first, a car or a house?

Life Hack

Decision making is the most crucial stage for every youth out there. Of course, every decision made has a consequence. Hence one should always ensure he/she does not settle on something that will negatively affect her later in the future.

Nowadays, youths are so obsessed with buying cars once they start earning. For many years, people have been valuing cars of which I feel there are more important things cars that one can have. Is not like being against one buying a car, of course, one has the right to do what he wants with his money. Literally, having a car gives you a sense of independence and excitement. However, there are important things than cars, and if one does not have them then cars should not be of importance yet.

Prioritization

But nowadays with how life is, it’s more important to have a piece of a land or permanent home (not a rental one) before thinking of purchasing a car. The value of a car depreciates over time. Day by day a car loses its value rapidly and drastically. This rather increases maintenance costs. I view a car as a liability while a house is an investment. House appreciates hence one won’t need to buy another one unless otherwise. Once you have a house, and most likely a large remuneration you can now think about a car. Unfortunately, buying a home is a bigger commitment than buying a car(both can be expensive decisions to make) but it is also the best decision one can make.

Nowadays with the availability of good public means and ride-sharing services like uber, one can now have the option of buying a house first. But it will need a lot of financial commitment. In the end, it is difficult to decide, this will majorly depend on one’s financial status and the lifestyle that one considers to be best.

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