This elderly lady at my church is dying, and her kids have nothing to do with her and have stated they don't want her estate when she's gone. My friend (older guy) is the executor of her will. She told him to find some young person to give the house to after she dies. He told her about me, so now I am inheritin he house. Only catch is that I also inherit three poodles. POODLES! Oh well. It'll save me the $400 per mnth on my apt, so this will really open up some possibilities carwise.
I won't spend more than $400 per month on a vehicle though, as I will not live outside my means, or reduce the amount I am saving each month. So, this is new territory for me....ideas on a new vehicle or dreamcar project?
Disclaimer: I know I'm sounding crass, coarse etc about her dying and all. I'd rather her be healthy and live longer. This is not he case, and anyone here would think the same thing if a stranger bequeathed to them a fully furnished house.
“Poor Al Gore. Global warming completely debunked via the very Internet you invented. Oh, oh, the irony!” -Jon Stewart
do you have a car now? i would say just save the $400 you are not spending and just build it up in the bank and then see what happens from there.
I second that. As long as you have a decent car now just sit on it. Otherwise pick up something cheapish.
Congrats on the new home.
400 a month is alot, really you could spend half that and have a nice car. That's unless your including insurance into the 400. There's so much out there you really need to look and decide what type of car you want. I would get a nice TJ wrangler, I miss that more than anything I've owned.
Member of J-body of Michigan.
Evo would absolutly be the car I would choose! god that looks so good
Member of J-body of Michigan.
save it, find out what your taxes are gonna be so you don't lose your free house.
better make sure there's no clause that covers the care of those poodles, if so you're gonna need that cash to help out with them.
good luck
Thank-you Charles Schwabb and Suzie Ormond. No one needs a new car or a flat screen, landscaping, or an Elton John memorabilia collction. I've always wanted a Grand National or a WS6 TA, but so many choices now. I have a paid off civic now, and already am bankining a few hundred each month in savings. I'd also thought about a genesis coupe or new camaro too. Only compact out there I like is the Mazda 3 hatch. Guess i'll just start researching
“Poor Al Gore. Global warming completely debunked via the very Internet you invented. Oh, oh, the irony!” -Jon Stewart
wow what a stroke of luck (sort of) with inheriting the house. how big, what does it look like, and does it need any work?
i would definitely save up for a little while, especially if it does need some work. home ownership isn't cheap, there's usually always something that needs attention.
however, i agree with acav2envy. TJ wrangler!
Check out my build thread!
How much are the taxes on the property per month? School taxes? How much is homeowners insurance?
Lots of things to consider.
Also you could sell the house, keep the money, keep renting and buy a Porsche.
Not unintentionally accelerating since 2009!!!!
^LoL^. I live in the city of Saginaw,and property values tanked over the last few years. Taxes aren't bad at all. 3 bdr, 1 bath. 1 car garage. Roof is 5-6 years old and overall pretty good shape. The lady could live a long time, who knows. I'm still socking cash away anyway. Goal is 6 months salary before I buy anything. ( 1/4 there already)
if it's an suv/crossover, I'll consider Honda element or FJ cruiser
sedan, used lucerne
sports cars is where I'm lost.
“Poor Al Gore. Global warming completely debunked via the very Internet you invented. Oh, oh, the irony!” -Jon Stewart
paying $400 a month in rent is one thing. having a house to be responsible for is an entirely different animal.
you dont get a nifty land lord to fix things. furnace goes out? guess what...? you get to deal with it. law moer blows up? you get to fix it or get BS 'you're lawn is too tall for our goody two shoes town, fix it or recieve a fine. @!#$ you, thanks' letters in the mail.
that sort of stuff
I must confess... I feel like a monster!
thats what i was trying to tell him earlier, didnt want to hear it
Dont forget about utilities either. That stuff can get expensive, especially during a decent michigan winter.
z yaaaa wrote:you dont get a nifty land lord to fix things. furnace goes out? guess what...? you get to deal with it. law moer blows up? you get to fix it or get BS 'you're lawn is too tall for our goody two shoes town, fix it or recieve a fine. @!#$ you, thanks' letters in the mail.
they do that @!#$ to you in sioux city? they do that to us in moville too. you get 10 days after receiving the notice or the town mows it and charges you $50.
Check out my build thread!
I'm not some 20 yr old kid ok? I've done well enough my finances over the last few years. I am in debt only around $450 split between two credit cards, no car payment, etc. Don't pay for cable or Internet either. I don't drink or smoke, and eat out maybe 1-2 x per week. That's why I am able to 3-400 dollars a month into savings, and 100 into my employer matched 401k.
So thank you for your gloomy advice, but even if I spend 400 a month on car + INS, I'm still chunkin cash in the bank. And btw, I keep the thermostat at 60 all winter. I wear hoodies...such a tightwad with the power company
“Poor Al Gore. Global warming completely debunked via the very Internet you invented. Oh, oh, the irony!” -Jon Stewart
haha, well, as cool as all of this is, never try to spend on extra's till you know what your costs are gonna be. once you figure that out, then i say start lookin for a new car. i say if you have a beater for now, get an old project car...i would look for an old beat up 60's z28 and bring it back to stock everything, and keep it in the garage forever. nice long project that you do whenever you feel you have enough cash to work on, and the end result of your cash, time, blood sweat and tears is one beautiful car.
I dont think anybody is trying to be "gloomy." Just making sure you realize how much goes into owning a house. It sounds like you are pretty smart with your money, but have you ever owned a house before? People are just mentioning some things to consider, thats all.
Theres a lot of expenses you dont think about as far as houses go. Id say put that 400 into the house. Your return on investment far exceeds anything you will get from a car. Wouldnt you rather have a nice home than a nice car? I dont know about you but I spend a lot more time in my home than I do my car. Also home repairs can get rather pricey. Id take full advantage of the extra money you are going to have in not paying rent to pay for property taxes, home insurance, repairs, furniture. etc.
Good lord, if the entire nation is like y'all, then it's no wonder the auto companies are losing money. Of course I am on a J site.
I had originally also mentioned a dream project car, as well as a grand national.
I could probably pick up a non running 87 v8 regal and make a similar looking car to the gn...p
I know those gbodies are normally ghetto, but glossy black on 17' rims... Nice Borlaug exhaust. Classic. Would give me something to tinker with too ...
“Poor Al Gore. Global warming completely debunked via the very Internet you invented. Oh, oh, the irony!” -Jon Stewart
I guess it all comes down to do what you want. Some people are giving you kick ass advice on owning a house and car purchases, but you keep replying with "I know how to handle my money". SO with that said, it's YOUR CAR you want to buy. YOUR MONEY to spend on it. Buy whatever the @!#$ you want, and don't ask for advice if you can't take it. Don't reply to people's responsible advice with snappy comments about how mature you are and how you know how to manage your money. They are just shedding some much needed light on this inheritance of yours, and it's potential nickel and dime issues. Managing your money well or not, some of your replies tell me you still have a lot of growing up to do. I don't give a @!#$ how old you are.
On the other hand....you have other fingers.
In my family we teach that boys have a God-stick and girls have a Shame Cave. -John Stewart
