Car or House which should you buy first?

House or Car

A Car or a House which should you buys first? The wanting, comforting, needing, your objectives, wishing, and compromising, everything is in the paradigm of us fulfilling our needs as mankind, we all want a stable and workable state of life and in this manifestation of needs and wants we are trail in Investing in a property. Why investing? in Investing, assets are bought or money is deposited in the bank for future interest on it. Investment can be in long-term savings. Investments are also assets that are tangible or intangible items obtained for producing additional income or held for speculation in anticipation of a future increase in value. In investing there is always the question end in mind of what is it that I wanted to have or how will I fulfill my future goals.  

Considering our financial goals, the risk overhand, and the time amount we must have in choosing a kind of investment to fulfill our needs and wants are not just falling in abruptly in buying especially if we are weighing and choosing between a house or a car. Investing is not just a financial rhythm that is automated rather it carries the process investment of planning, timing, capabilities, and responsibilities.

What is a Movable and Immovable Property?

In assets, there are two kinds of investment or property: buying the movable and immovable property. Movable property, as the name suggests, in the general sense, means goods or things belonging to someone which can be moved from one place to another. For example, computers, jewelry, tables, vehicles, and others. While immovable property means any property with rights of ownership attached to it that cannot be moved. In the sense used, commonly refers to real estate such as your house, factory, and manufacturing plant.

A Car or A House?

Since assets are classified into two different categories — movable assets and immovable assets and vehicles or cars considered as movable assets and a house under immovable assets let us discuss their category importance, investment considerations, and their benefits to us and the decision of which to buy first.

Car as an Investment

Many money makers will say that a car as an investment is a bad idea. Since the rule of thumb in investment is making money there should be money appreciated along the way. What makes a car become not just your asset but also an investment and why consider it a choice of first purchase?

Read Also: 10 Fuel-Efficient Cars in the Philippines

1. Personal Choice

You have chosen to buy a car first for personal reasons and the goal of earning money. Some considered buying it first for the reason that it helps them in their business deliver their products to the store, and they could get them to the job on time. Having a car gives you a sense of independence and excitement as well—knowing you can get to wherever you want to be without relying on anything but your sense of adventure.

2. Buying and selling

The only reason a car can be considered an investment is if it is a collectible classic or vintage vehicle and that’s certainly how some people have made money over the years. If you’re sure that investing in a vehicle is for you, you need to find a vehicle that is the right fit in terms of cost, condition, and how much you want to drive it as your financial goal.

House as an Investment 

A House is considered an immovable investment asset and Investing in immovable assets is considered much safer, helps you earn better, and could have a good return on your investment. What are considerations that a house is your top priority in buying or why it is the first-hand property we want to have or buy?

1. Real Estate Investing

You can earn money by investing in Real Estate – it will always gain value over time. It is considered income-generating and it is your sow-seeds investment in the future. There are always ways to utilize the needs of the transportation, using the public going to your work or business  

2. Home Value Appreciation

A home found in a prime location can have an appreciating value over time. If you purchased a house or a condo unit in an accessible location or within the proximity of accessible establishments like schools, hospitals, and markets chances are, you’ll be able to earn and it’s up to you if you decide to sell it in the future.  When you purchase a home or rental property, its value can increase over time. Year over Year in the Philippines house prices grew 4.9% in December 2021 following an increase of 6.3% year-over-year in the previous quarter.

Car’s value depreciates, an automobile depreciates over time, and its value as it ages drastically and swiftly diminishes. After one year the car will be worth about 20% less than what you bought it for. The new car will depreciate by 15 to 25% every year until it hits the five-year mark. This means after five years the car will lose around 60% of its value.

3. Sense of Accomplishment

gives you the feeling of achieving something and the freedom that you can freely do whatever you want to do with your house. That sense of fulfilling a dream gives inspiration to hard-earn money.

And of course, that Peace within – that happiness of having to experience walking inside a home that is yours, sleeping with a roof and four walls are genuine security that you are sheltered and shielded as an individual.

In choosing a house or a car, it is always evenly and equivalently important to choose the proper property you want to buy of course if it is a car, you buy what is your preference and from a reputable dealer, and if it is a house you will purchase from a developer that is known for its reputable real estate developer like Bria Homes, a prime home that are affordable house-and-lot packages and condominium units closer to Filipinos. You can count on the quality of the project, proximity area, good service, and the amenities it offers. As individuals and Family Oriented, buying an affordable house or condominium brings you peace of mind and that serenity that you have the power to enjoy your life without worrying.

To which the need to first to buy a car or a house, is a matter of choice and always a process, the decision of buying between a car and house first is always a matter within your objectives, what is it I wanted to have? Or will it fulfill all the dreams I wanted to carry through? The decision to buy a house or a car depends on your needs and your projections. What is important is that the choice you made brings you a return of appreciation and a sense of fulfillment in the end. A choice that will safeguard you from your daily lives to your future reference and preferences. The choice is yours but choose wisely because your choice will determine your life direction and your stronghold in fulfilling your essential necessity.

Written by Rowena Lansang