BMW M3 and M4 - The Icons
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
home
G80 BMW M3 and M4 General Topics BMW M3 (G80), M4 (G82), CSL and 3.0 CSL General Forum

View Poll Results: Home Owner vs Renting
Home Owner (House) 420 88.42%
Renting (Apartment or House) 56 11.79%
Multiple Choice Poll. Voters: 475. You may not vote on this poll

Post Reply
 
Thread Tools Search this Thread
      01-12-2021, 11:35 PM   #23
F85MTuNED
IG: @88jae88
F85MTuNED's Avatar
1621
Rep
1,734
Posts

Drives: ///Ⓜ️
Join Date: Mar 2015
Location: NY / NJ

iTrader: (1)

Quote:
Originally Posted by peterc05 View Post
100% buy the house.

That's exactly what I did.

Closed on my house January of 2020. Then bought a GTR a month after.

You'll probably regret not buying a house. In 5 years you could gain equity inside your home and the appraised value could go up as well. (I'm a mortgage loan officer lol)

If you want a car later on. Do a cash-out refinance and buy something. Or you'll have saved up enough by then anyways. If I bought a GTR and decided to keep renting an apartment I would of hated myself.
What he said...😎
__________________
IM POOR..
Appreciate 0
      01-13-2021, 08:00 AM   #24
chicagoguy0822
Lieutenant
289
Rep
403
Posts

Drives: 2022 M4 Convertible (G83)
Join Date: Sep 2020
Location: Geneva, IL

iTrader: (0)

Quote:
Originally Posted by mwh2009 View Post
Many people have said this already - have to decide for yourself the opportunity cost of the money sunk into the car.

All the rest is just advice and worth about what you are paying for it. I'm older than most on this forum I think at 48, and I did a little of both in my life. Bought the fast car in my twenties. Loved it, but couldn't afford it. And the apartment angle was awful. A house/driveway/garage is so much easier, even if you don't put your car in the garage each night.

Then I sold the car. Smart move, but regretted it for 15 years. Finally in my forties got to buy a fun car again. And even at this late age with so-called financial security, you may still decide to sell it. I did and had to go back to sensible for a while AGAIN.

While it will never be a smart financial move to buy an expensive car, looking back I don't regret the purchases. Life is strange and you never know what it will throw at you later. I think saving for the future or investing is smart. To an extent.

But living for when you're old, like me doesn't fully make sense either. So try to do some of both.

My advice (worth as much/little as everyone else's): the G8x is a lot for someone who wants to, but still hasn't gotten the house purchase done yet. Buy a fast car, but maybe not THAT much car. Go with a 2017 F8x instead, and be 85% as fast on 40% of the cost.

And then buy your first house sooner rather than later. But don't overspend there either. You'll probably move in a few years anyway. Most young people move a few times before really settling down. So you'll have more chances at this house thing down the road.

Now that I really sound old, I think I'll stop there. Good luck!
Spot on.
Appreciate 1
mwh2009288.00
      01-13-2021, 11:45 AM   #25
Cmassey3
Second Lieutenant
Cmassey3's Avatar
408
Rep
287
Posts

Drives: 2008 BMW M3
Join Date: May 2020
Location: Raleigh NC

iTrader: (0)

I'm in an apartment and I picked up a $19k E92 M3 so I could split between getting my investments underway and enjoy an M3, it's been a relatively affordable way to get going. Even a good many of the M project directors drive older M cars, they're definitely worth a look.
Appreciate 2
Transfer5244.00
jmg18493.00
      01-14-2021, 12:49 PM   #26
Tanya.thdesigns
New Member
12
Rep
10
Posts

Drives: Bmw 328
Join Date: Dec 2019
Location: Buena Park

iTrader: (0)

Quote:
Originally Posted by ShiftingG82 View Post
Good Morning from NY. I've been thinking about this since I saw the G82 in person.

I would like to know how many others who are pulling the trigger on a G8x M3/M4 are still renting an apartment. I really want a G82 but I'm tired of renting and want a home for myself where I could park my cars inside my own garage. If I pull the trigger on the G82 I won't be able to buy a house for another five years which doesn't really bother me that much, but it will be on the back of my mind especially since I don't have a garage near my current location so I'll end up parking the car on the street.

I know the car is going to lose value everyday I drive it, while a house might stay the same or go up in value in most cases. But, I'm a car guy, I love cars, I do most of my mechanic work myself, and LOVE high speed, shifting my own gears, and car technology. I've had numerous days where work was horrible, but the minute I turn on my car I forget about everything and just pay attention to the operating temperature of the car before I hammer it! Sadly, when I come home from a horrible day at work I don't admire my apartment. I just want my bed and start a new day the next day.

I just want to know how irrational or rational my thoughts are and whether I'm the only one that's going through this. If you were in a similar boat in the past can you tell me what you ended up going with and how things are now?
Quote:
Originally Posted by ShiftingG82 View Post
Good Morning from NY. I've been thinking about this since I saw the G82 in person.

I would like to know how many others who are pulling the trigger on a G8x M3/M4 are still renting an apartment. I really want a G82 but I'm tired of renting and want a home for myself where I could park my cars inside my own garage. If I pull the trigger on the G82 I won't be able to buy a house for another five years which doesn't really bother me that much, but it will be on the back of my mind especially since I don't have a garage near my current location so I'll end up parking the car on the street.

I know the car is going to lose value everyday I drive it, while a house might stay the same or go up in value in most cases. But, I'm a car guy, I love cars, I do most of my mechanic work myself, and LOVE high speed, shifting my own gears, and car technology. I've had numerous days where work was horrible, but the minute I turn on my car I forget about everything and just pay attention to the operating temperature of the car before I hammer it! Sadly, when I come home from a horrible day at work I don't admire my apartment. I just want my bed and start a new day the next day.

I just want to know how irrational or rational my thoughts are and whether I'm the only one that's going through this. If you were in a similar boat in the past can you tell me what you ended up going with and how things are now?

Get a home first then you'll feel confident about buying anything where you live is more important than a car
Appreciate 0
      01-14-2021, 01:32 PM   #27
Dzo
Private First Class
76
Rep
158
Posts

Drives: M3 Comp. xDrive
Join Date: Nov 2017
Location: Europe

iTrader: (0)

The result of the poll is speaking by itself.
Appreciate 0
      01-14-2021, 03:13 PM   #28
Giggler
Banned
406
Rep
334
Posts

Drives: 20' M340i, 24' X5 40i
Join Date: Jul 2019
Location: California

iTrader: (0)

Liability before the Asset = Cart before the Horse!

Perhaps the G80/82 will be worth more than its MSRP one day far into the future when everything is all electric, but that's purely speculation. Until then, this G8x should be considered a liability of the highest magnitude.

If you're looking for a strategy, I would say get your house first and then begin acquiring assets that generate wealth for you.

Here's an example from my own personal situation:

Amongst other things, one specific thing I did to justify the lease of my M440i was I consolidated a 5,500 share position in the undervalued company HMLP at an average price of 8.48 that pays a consistent .44 quarterly dividend. Not only has the dividend alone covered the lease payment, but the stock price itself has nearly doubled from my accumulation average, giving me the option to cash out with profit when I'm ready or to lease more expensive BMW's in the future with a DRIP strategy (all without ever losing a penny of my own money). In my opinion, this is how you should approach the acquisition of liabilities such as cars. Put your money to work instead of putting it into someone's pocket.
Appreciate 0
      01-15-2021, 02:49 PM   #29
Ximian
.
Ximian's Avatar
United_States
1885
Rep
1,854
Posts

Drives: E92 M3
Join Date: Oct 2016
Location: MN

iTrader: (1)

Garage List
2011 BMW M3  [0.00]
2021 BMW M3  [0.00]
Be responsible. Also
Appreciate 0
      01-16-2021, 05:57 AM   #30
Impulse20098
Second Lieutenant
Impulse20098's Avatar
380
Rep
261
Posts

Drives: 2022 M3 xdrive
Join Date: Jan 2021
Location: Houston, TX

iTrader: (0)

Quote:
Originally Posted by ShiftingG82 View Post
Transfer I really like interior technology and sporty feeling from the vehicle. The only other option for me would be the F8x platform but the tech interior just doesn't do it for me even though it has all the sporty feeling I need.
Manual is a must! I'm 32 now living with my girlfriend but I don't want kids or get married for another 8 years. whatnotsomuchf80.

and I have not done much on investing but much on spending lol
I would say it depends on your income, how secure is your job/income, and how much savings you have.

In my case I bought and paid off my house before buying anything relatively expensive. One of the best feelings to know the place you call home is truly your home.
Then last month my wife and I bought our first BMW. X3 M40i, and at the end of this year I will be purchasing a new M3 for myself.
If I had to do it all over again I would not change anything. Getting a house before the cars for me was the best decision. However that is only my 2 cents.
Good luck with your decision.
__________________
2021 - X3 M40i Phytonic Blue

2022 - M3 xDrive Frozen Brilliant Metallic White
Appreciate 0
      01-16-2021, 03:56 PM   #31
Transfer
Major General
Transfer's Avatar
5244
Rep
5,874
Posts

Drives: Bronco Wildtrak, Tesla MYP
Join Date: Mar 2010
Location: Issaquah, WA

iTrader: (1)

Quote:
Originally Posted by Impulse20098 View Post
Quote:
Originally Posted by ShiftingG82 View Post
Transfer I really like interior technology and sporty feeling from the vehicle. The only other option for me would be the F8x platform but the tech interior just doesn't do it for me even though it has all the sporty feeling I need.
Manual is a must! I'm 32 now living with my girlfriend but I don't want kids or get married for another 8 years. whatnotsomuchf80.

and I have not done much on investing but much on spending lol
I would say it depends on your income, how secure is your job/income, and how much savings you have.

In my case I bought and paid off my house before buying anything relatively expensive. One of the best feelings to know the place you call home is truly your home.
Then last month my wife and I bought our first BMW. X3 M40i, and at the end of this year I will be purchasing a new M3 for myself.
If I had to do it all over again I would not change anything. Getting a house before the cars for me was the best decision. However that is only my 2 cents.
Good luck with your decision.
Paying off a home depends on where you live. Average home value in my city is a little over $800k. In Houston it's $200k. So I'm resigned to big mortgage and M cars whenever.
Appreciate 0
      01-16-2021, 09:57 PM   #32
bsmf8x
Lieutenant Colonel
bsmf8x's Avatar
United_States
777
Rep
1,636
Posts

Drives: F82
Join Date: Jan 2020
Location: NY

iTrader: (1)

You're in NY. Assuming your in NYC/LI, buying a house is smart because the appreciation here is insane. Also, in a 1-3 years these G8x will be getting the hefty lease discounts we've been seeing on F8x and even the new x3m now. I know you love cars but a decision like this can be the reason you're able to comfortably buy nice cars for the rest of your life, and at the end of the day an m340 type car isn't a big compromise as it's temporary and smarter for your position.
Appreciate 0
      01-16-2021, 10:09 PM   #33
Impulse20098
Second Lieutenant
Impulse20098's Avatar
380
Rep
261
Posts

Drives: 2022 M3 xdrive
Join Date: Jan 2021
Location: Houston, TX

iTrader: (0)

Quote:
Originally Posted by Transfer View Post
Paying off a home depends on where you live. Average home value in my city is a little over $800k. In Houston it's $200k. So I'm resigned to big mortgage and M cars whenever.
You are correct about the cost of home values in different cities. Typically the average salary is higher in New York though, but nonetheless 800k to 200k is a huge difference.
Also what is not mentioned in home ownership is the cost of maintenance/repairs that you are responsible for handling. Insurance does not cover everything. So to each their own on where they decide to live and for what reasons.

Which is why in the end I say just do whatever makes you happy.
__________________
2021 - X3 M40i Phytonic Blue

2022 - M3 xDrive Frozen Brilliant Metallic White

Last edited by Impulse20098; 01-16-2021 at 10:40 PM..
Appreciate 1
      01-30-2021, 07:15 PM   #34
2011ninja
Colonel
2011ninja's Avatar
Jamaica
3329
Rep
2,603
Posts

Drives: 2022 G80 6MT
Join Date: Feb 2020
Location: Connecticut

iTrader: (0)

My friend said ; if you have any money left over from your paycheck after paying a car note; you should have picked a nicer car.
Appreciate 0
      01-30-2021, 07:39 PM   #35
CanesM4
First Lieutenant
CanesM4's Avatar
438
Rep
384
Posts

Drives: 24 Twilight Purple/Ivory
Join Date: Jul 2015
Location: Ct

iTrader: (0)

Buy a house. Nothing feels better than owning your own house. It'll be easy to get a car after you get the house. Buy the bigger item first
Appreciate 0
      01-31-2021, 01:22 AM   #36
brocurls
First Lieutenant
United_States
263
Rep
352
Posts

Drives: Mazdarati
Join Date: Sep 2017
Location: DE

iTrader: (0)

What's your girlfriend (and don't make her wait 8 fkn years to get engaged) gonna be more happy about as the years go...a home y'all can call home or a X year old car?
__________________
///2020 M4 (F82) SanMarinoBlue w/Full BlkLeath, Comp, Exec, ABSM, 6MT

DD: 2020 Mazda CrystalWhite CX-5 GT w/PP
Wife's: 2023 Audi S5 Sportback DistrictGreen Premium Plus w/Blk Optic Package
Appreciate 0
      01-31-2021, 09:22 PM   #37
coreyjn7
Private First Class
coreyjn7's Avatar
Australia
231
Rep
191
Posts

Drives: 2023 M240i
Join Date: Dec 2016
Location: AUS

iTrader: (0)

27 bought a house 18 months ago, on the same day bought an M2C, made the decision to buy a g80 and put the second house off a few years, life's too short

Edit: also engaged getting married this year and she thought the m3 was a stupid decision
Appreciate 0
      02-01-2021, 07:23 AM   #38
wtwo3
Major General
wtwo3's Avatar
17882
Rep
5,463
Posts

Drives: 23 X7 40i; 23 M3; 24 cooper s
Join Date: Aug 2019
Location: IL

iTrader: (0)

Garage List
Quote:
Originally Posted by coreyjn7 View Post
she thought the m3 was a stupid decision
So are you still engaged?
__________________
2023 BMW X7 xDrive40i
2023 BMW M3 6MT
2024 Mini Cooper S Convertible

'20 BMW m340i... '20 BMW X5 40i... '16 Infiniti Q50 RS 400... '10 Lexus RX 350... '08 Lexus IS 350... '00 Nissan Maxima... '93 Nissan Maxima
Appreciate 1
2011ninja3328.50
      02-01-2021, 10:59 AM   #39
BigKutta
Brigadier General
BigKutta's Avatar
United_States
3873
Rep
4,040
Posts

Drives: 2020 M2C, 2019 330xi, 2017 Q7
Join Date: Jan 2012
Location: Washington DC Burbs

iTrader: (1)

Garage List
2019 330xi  [0.00]
2017 Audi Q7 3.0  [0.00]
2020 M2C  [0.00]
OP - All I can say is that buying a home at 32 (versus say at 40), will put you in a much better position financially. The thing about mortgages is that its a predictable fixed cost, and get easier on the pocket as times goes on as you make more money. While cars are awesome, if the trade-off is between a car and a home, I'd take the home any day.
There are just so many side benefits (besides financial), like having a garage to work in, or doing what you please to your house, that its hard to imagine some times. Good luck and go get that house! You can pick a used G8X in a couple of years and enjoy both.
Appreciate 1
Bumpinjeep5363.50
      02-01-2021, 07:56 PM   #40
coreyjn7
Private First Class
coreyjn7's Avatar
Australia
231
Rep
191
Posts

Drives: 2023 M240i
Join Date: Dec 2016
Location: AUS

iTrader: (0)

Quote:
Originally Posted by wtwo3 View Post
Quote:
Originally Posted by coreyjn7 View Post
she thought the m3 was a stupid decision
So are you still engaged?
Hahaha yes
Appreciate 1
wtwo317882.00
      02-01-2021, 10:34 PM   #41
Geektechlive
Captain
Geektechlive's Avatar
United_States
1188
Rep
826
Posts

Drives: 2022 M3 Competition
Join Date: Nov 2007
Location: milwaukee , WI

iTrader: (0)

Garage List
I'm 47 and on my second home. Got married at 27 and wife and I immediately bought a house and started paying off school loans and all debit. We didn't vacation except for staycations for seven years to pay all our debit off.

Fast forward to me at 47.
We now have less than 5 years left on our Mortgage, we both max out 401k and invest in other areas and saved up over the last couple years to be able pay most of a G8x off when the xdrive version comes out.

My wife is an auto convert which helped. I Got her to love top gear and lots of other car programs. She can now spot luxury cars when we are on the motorway. She enjoys driving fast and bmw. I am lucky.
The fact is all that hard work (and no kids) meant that We carry no debit except our mortgage. We worked really hard to get here and looking back on it it was a good idea that paid off for us.

And with all that and being a huge car nut myself and knowing I will have the cash set aside I find myself thinking even now that maybe I will just keep saving and reinvest.

That's the thing with having cash. When I didn't have any I spent too much. Then I got married and smarter and now that I can save up I don't want to spend it. Lol
__________________

--
Owner of a 2022 M3 Competition AWD in Individual Voodoo Blue and Fiona Red leather
Appreciate 2
      02-02-2021, 05:11 PM   #42
KoenG
Lieutenant Colonel
Belgium
1418
Rep
1,519
Posts

Drives: i4 eDrive40 & Cupra Leon 300
Join Date: Jul 2007
Location: Europe

iTrader: (0)

Quote:
Originally Posted by coreyjn7 View Post
27 bought a house 18 months ago, on the same day bought an M2C, made the decision to buy a g80 and put the second house off a few years, life's too short

Edit: also engaged getting married this year and she thought the m3 was a stupid decision
Smart fiancée.
Are you certain you will marry her?
Appreciate 0
      02-03-2021, 10:56 AM   #43
secretariat
Major
944
Rep
1,452
Posts

Drives: 2016 X5M
Join Date: Dec 2012
Location: New York

iTrader: (0)

ShiftingG82:Manual is a must! I'm 32 now living with my girlfriend but I don't want kids or get married for another 8 years.

ShiftingG82 have you ever heard how to make God laugh? Tell him what your plans are.
Appreciate 0
      02-03-2021, 01:08 PM   #44
KaptainKloss
Private First Class
88
Rep
106
Posts

Drives: 2021 M340 xDrive
Join Date: Jan 2021
Location: East Coast

iTrader: (1)

I understand the dilemma. I'm 28 and bought my first investment property a few years ago thinking I will feel guilty buying a car if I don't buy an asset that will put me ahead.

Funny enough, just ordered an M340, but kind of feel guilty about even though have an asset that would pay for it. Guess that's just what happens.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 07:48 AM.




g80
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST