The Debate (6); why having a house first is better than having a car

Greetings beautiful people. Trust we are doing well. Today am glad to participate in this debate by @sahmie. Thank you for the privilege to discuss this topic.

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In life we all come to a point where we make investments or want to achieve some tangible things and some of them includes either getting a car or a house. Many people will want to get one before the other or vice -versa. Today am debating on the importance of getting a house first before getting a car with this points of mine.

A house is an asset. An asset is something that puts money in your pocket while a liability is something that removes money from you. Getting a house can be a great investment especially if you get it with the plans of renting out a part of it.

Properties tend to appreciate in value over time than cars which will only depreciate with usage. The car may give you money if it’s used for commercial purposes but its value will still depreciate. So you see that the house is more of an asset than a liability.

So you can decide to live in a part and rent out a part. Even if you decide to not rent any of it. Having your own house will save you the strain of yearly rent payments hence it’s a means to retain or preserve income.

Having your own house will give you a sense of freedom from the pressure and insults that come from landlords for rents when they are due. Having your own house gives you the freedom to live and make your own rules without having to bend to so many landlord rules about how to live in their houses.

Many persons buy cars even more than one and park their cars in people’s compound. Parking cars in peoples houses can lead to envy and jealousy from the land lord especially when they have not been able to have their own cars.

I had a case of my elder brother who was living comfortably in another persons house. When he bought his car and parked in the compound, the next year, the landlord increased his rent. He had lived there all these years without rent increament until he bought a car.

The house can serve as a security for a future investment as a collateral for a project investment towards financial freedom.

Did you know that income generated from rent increases almost every year. The amount I paid for rent last year is not the same am paying this year.

Yearly rents and rental increase can be a very valid means of constant stream of income. Hence investing in getting a house is a wise choice for one looking at having a steady source of income.

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When one buys a house built a in a land, it’s like two different investment in one. Even if you are tired and wants to sell the land and the house on it, you will make far more than you invested in the project but the same cannot be said of car which value only depreciates with time and usage. Over the years the car would only turn into a piece of cranky old metal but that’s not the same for a house.

When you live in someone else’s house, there are some kind of touch and adjustments you cannot make to the house to fit your taste entirely rather you would live with whatever is made available for you and can only add one or two touches but the same is not the same with your own house. You live and build to your taste and that satisfaction is worth all the investment.

You can plant a garden if you want to, raise a poultry, fish pond etc as you wish in your house but the same cannot be said to happen in someone else’s house. Any of these in your house is like and investment inside an investment. It’s like using a stone to kill two birds.

Honestly nothing can be compared to the freedom and investment Olof having one’s own home.

Hence with these points of mine, I hope I’ve been able to convince you that it’s better to buy a house first than a car.

I invite @Adeaze, @ruthjoe and @jovita30 to participate in this contest.