Car or House?
October 23, 2021
You want a new car AND a new house. Which one should you tackle first, and which is the better investment?
If your heart says “car,” but your head says, “home,” here are a few investment points that may give your heart the nudge it needs to catch up with your head.
Cars depreciate around 20% after the first year then continue depreciating by 10% every year after that. A home is expected to go up in value by about 4% year after year. Currently, the appreciation rate is a whopping 14.5%! Translation? Buying a home is always the better investment.
Lastly, ask yourself this: What will benefit you most 5 years from now? Driving around a 5-year-old car or resting your head each night in a home you call your very own? Choose wisely.