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Between Owning A Car Or House Which Would You Advise Someone In His 20's? - Family (4) - Nairaland

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Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Seun4blue(m): 3:32pm On Oct 18, 2023
If you have enough money to complete something small like 2bedroom max but mighty why not build house with the aim of building another one in the next 10years...... please don't build incompleted building!

if your money is not enough buy 2plots and do the CofO you can sell one to build the other when you're ready

buy car when you have excesses
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by AfahaAbia(m): 3:35pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.

You better get a house because in future you will thank your younger self for it. I got my house in my 20s car in my 20s also had my two kids in my 20s too. Now I'm 42 with two grownup children and the rest... I work less now coz I did all that in my 20s and 30s.

5 Likes 1 Share

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by rickleye: 3:35pm On Oct 18, 2023
ravensckar:
It's obvious you don't have a house, hence the reason for the age-long sentiments. I once carried this your outdated notion for more than 5 years and I suffered greatly for it. I built a house in an area that I couldn't afford to live in because building in the area that I was living in then was unaffordable.

Most middle class are suffering because of this same outdated notion. My friend built a house at Ikorodu (Gberigbe area) but works in Lekki. He usually leaves home as early as 4am everyday and returns home not earlier than 10pm. By the time stress wan finish him life, Bros, leave him house there come rent one room dey manage. No be only asset! Na liquidity.

angry angry angry

Why would you build a house in an area you can’t afford ? Everything is relative. If it was unaffordable you are the source of your stress.
The OP has to look at both pros and cons. How much to build a house vs a car. Is the house an income generating or for self. Many people have houses and no vehicle ( means of transportation) but they want to be the landlord with no issue where to lay their head. With a vehicle
You have
1. Potholes
2. Police
3. last man
4. Accidents
5. Traffic jam
6. Maintenance
To deal with on a daily basis.
So we need more info to provide adequate response
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by iswallker(m): 3:37pm On Oct 18, 2023
Fuel is #600/liter under thubvu APC government

Be guided

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Lekan239(m): 3:46pm On Oct 18, 2023
Acidosis:
Land, long-term investments like stocks, commercial papers, or bonds.

What do you want to do with a house in your 20s knowing very well that you would probably relocate 20 times within the next 10 years?

A remote worker without a family? What do you want to do with a car, sir?

There are certain things you don't do unless you are one of the most sought-after professionals. A certified doctor or surgeon can decide to blow his salary in his 20s and 30s and he still won't suffer in his old age. Try it in your 20s with your remote bitcoin mining job (or with any of these new generational jobs/industries) and watch adverse penury dine with you before age 35. Use your head oo.

With new generational jobs (tech, etc.), you have to secure your future before any instant gratification.



if you build a house in ur 20's, u won't suffer in your 30's. That house u built with 40millon today will be worth 120m in a decade. According to Nigeria inflation.

So if u go broke in ur 30's after building a house in ur 20's, just sell ur house
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Lekan239(m): 3:53pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.
you fit use house collect loan from bank. U no fit use car, unless them go collect your car down
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Lekan239(m): 3:55pm On Oct 18, 2023
GeneralPula:

Bro, you’re getting it wrong..

Both house & car are beneficial liabilities! Don’t house expire? Don’t things get spoil at home? Why do people renovate house to new shape if it doesn’t expire?

Same is with car. You buy & be maintaining it. Both house and car, both requires money for maintenance after acquiring it!
u see that car. Avoid am if u never gallant. Car na money eater o
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by mrjojo: 4:03pm On Oct 18, 2023
non!!leave Nigeria, you are in your 20s, take as much calculated risk as you can now. Upskill, travel.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Besuccesful: 4:05pm On Oct 18, 2023
Car is not an asset while house is an asset. If you have the money build a house for your future. Car can come later.


It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.[/quote]
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Lekan239(m): 4:05pm On Oct 18, 2023
rickleye:
You have to list the pros and cons.
What type of vehicle ?
You need a vehicle to move around to make more money .
A house would it be an income generator or a place of abode.
A house will appreciate in value
A vehicle will not.
A vehicle requires constant reply oil change, tires, fuel . A house once built will require maintenance now and then.
wait. U wan dey change ur house window and doors, or you wan dey change ur house roof now and then?

Cause I no understand the kind maintenance that will be done on a fully completed house now and then o. Other than sweeping ur compound and cleaning it
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by talented321: 4:09pm On Oct 18, 2023
Your guy make the mistake, i know the value of house because i've one.. Though it's choice
ravensckar:
It's obvious you don't have a house, hence the reason for the age-long sentiments. I once carried this your outdated notion for more than 5 years and I suffered greatly for it. I built a house in an area that I couldn't afford to live in because building in the area that I was living in then was unaffordable.

Most middle class are suffering because of this same outdated notion. My friend built a house at Ikorodu (Gberigbe area) but works in Lekki. He usually leaves home as early as 4am everyday and returns home not earlier than 10pm. By the time stress wan finish him life, Bros, leave him house there come rent one room dey manage. No be only asset! Na liquidity.
(
3ice9ce:


Your say what others are saying because you can't think for yourself.

Car is a liability but GIGM is using vehicles to make millions. Onuku.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Elvo123: 4:15pm On Oct 18, 2023
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Smartguyboy(m): 4:15pm On Oct 18, 2023
Easyincome24:

I disagree with your last statement.
Cars have expiry date, maybe you may let this make more sense.
I accept it could be a liability of not been used for business.

Only the poor mindset people will tell you car is a liability because if car is a liability nobody will be paying for luxury cars 🚗.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by do4luv14(m): 4:21pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.


Investment wise, and good returns, less maintaince, House over Car

Reasons,

House: Tenants will take care of minor maintaince, major one will be once in a very long while,

secondly you won't have to buy anything regularly


Car : Maintaince, spare part, Fuel and sundry, even if you are using it for transport, unless you are one of those who take proper care of their cars


So my pick is HOUSE
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by porthouse7(f): 4:24pm On Oct 18, 2023
OvertheTop:


shocked shocked shocked Are you sure you are a Lady??
u don’t need to know
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by jsohansofun: 4:26pm On Oct 18, 2023
do4luv14:



Investment wise (High Growth Cryptocurrency), and good returns, less maintaince, House over Car

Reasons,

House: Tenants will take care of minor maintaince, major one will be once in a very long while,

secondly you won't have to buy anything regularly


Car : Maintaince, spare part, Fuel and sundry, even if you are using it for transport, unless you are one of those who take proper care of their cars


So my pick is HOUSE
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Deepthoughts: 4:27pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.
If you have a guaranteed source of income try to own a house,but if not get the car strictly to double the hustle.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by BigIyanga: 4:28pm On Oct 18, 2023
ravensckar:
It's obvious you don't have a house, hence the reason for the age-long sentiments. I once carried this your outdated notion for more than 5 years and I suffered greatly for it. I built a house in an area that I couldn't afford to live in because building in the area that I was living in then was unaffordable.

Most middle class are suffering because of this same outdated notion. My friend built a house at Ikorodu (Gberigbe area) but works in Lekki. He usually leaves home as early as 4am everyday and returns home not earlier than 10pm. By the time stress wan finish him life, Bros, leave him house there come rent one room dey manage. No be only asset! Na liquidity.

angry angry angry
So you built in an area that is below or above your economic status?
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by achimendy(m): 4:41pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.



One of the best investment in life is property, don't joke with it because it can go on for generations to generations. But if you're buying the car for business is still not a bad idea, but if you're buying for show off then you'll for sure fail in life.


Learn to take the right decisions in life.

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by LZAA: 4:42pm On Oct 18, 2023
A house oo
Motor go later come
But you see house ehn
Get your own and have peace
QED

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Acidosis(m): 4:53pm On Oct 18, 2023
Lekan239:
if you build a house in ur 20's, u won't suffer in your 30's. That house u built with 40millon today will be worth 120m in a decade. According to Nigeria inflation.

So if u go broke in ur 30's after building a house in ur 20's, just sell ur house

"The house will be worth...." until it's time to get a real and actual buyer with cash.

The only true investment in your property lies in the land itself. Everything else on that land, including furniture, appliances, roofing, and curtains, depreciates over time.

If the land doesn't appreciate in value, all the expenses incurred in building that house will be in vain. It wouldn't matter whether you hired julius berger to build or you imported your cement from Australia.

4 Likes 2 Shares

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by pafun(m): 4:55pm On Oct 18, 2023
Quoting a popular Yoruba saying of the 1980s - A house cannot have road accident. grin

3 Likes

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Jamie1000: 4:56pm On Oct 18, 2023
Depends on your money.
Anything below 7m is for a car above you should be looking at building a house.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by CoronaVirusPro: 5:06pm On Oct 18, 2023
ravensckar:
It's obvious you don't have a house, hence the reason for the age-long sentiments. I once carried this your outdated notion for more than 5 years and I suffered greatly for it. I built a house in an area that I couldn't afford to live in because building in the area that I was living in then was unaffordable.

Most middle class are suffering because of this same outdated notion. My friend built a house at Ikorodu (Gberigbe area) but works in Lekki. He usually leaves home as early as 4am everyday and returns home not earlier than 10pm. By the time stress wan finish him life, Bros, leave him house there come rent one room dey manage. No be only asset! Na liquidity.

angry angry angry

You said it all!

Many just carry that mentality that, "I must build a house" grin grin grin

Even when reality is staring at them, they find it impossible to see.

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Amayabor1: 5:09pm On Oct 18, 2023
CoronaVirusPro:
Owning a house is a long term investment and a liability for your age. Land is better.

Do you have needs for a car? If yes, hold lands and buy a car. Building is not worth it if you just starting up. You will end up caging your money.


You can use remainder to invest in good stocks. Google, Raytheon and Amazon

You could also hold rare coins.


At your age, it’s guaranteed you will smile in +15 years and will have more than enough to build if you choose.


Please, do you know legit platforms where one can invest in US stocks?
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by 3ice9ce: 5:12pm On Oct 18, 2023
BigIyanga:

You’re the onuku here. GIGM is a registered biz and deducts purchase prize, maintenance costs and depreciation from its business costs before paying taxes.. if any. But you cant do that with private vehicle which is only good for emotional feelings .

Private vehicle is only good for emotional feelings.
You are analysing issues from the standpoint of a pauper.
You are wretched but educated and It is your education that is your obstacle to your wealth.
Your type full Ikorodu and Mowe Ofada.
Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by CoronaVirusPro: 5:14pm On Oct 18, 2023
Amayabor1:


Please, do you know legit platforms where one can invest in US stocks?


Try the below. Your citizenship might hinder you in the most legit ones I know. But I think the below would fly. Its very legit.

https://start.tdameritrade.com/welcome?routedSegment=retail
https://start.tdameritrade.com/welcome?routedSegment=retail

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by TheGift: 5:15pm On Oct 18, 2023
What are the three necessities of survival? Food, Clothing and Shelter

Did you see car or transportation there ? No.

In which case you have your answer, except the money you have can buy a car but cannot even by the land for the house and you can use the car as an income generator for getting the house.

But if you can afford one or the other , then house first, the value of landed property will often go up and the value of car , even a new one , starts dropping once you drive it out of the car shop. House is an asset, cars are for most people , a liability- they just don’t realize it.

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Regex: 5:17pm On Oct 18, 2023
Lekan239:
if you build a house in ur 20's, u won't suffer in your 30's. That house u built with 40millon today will be worth 120m in a decade. According to Nigeria inflation.

So if u go broke in ur 30's after building a house in ur 20's, just sell ur house

You people don't understand what is investment really. Building a house will increase the worth of the land, but given the dwindling economy, who can afford to buy the property? It's not easy as you said.

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Nche95(m): 5:19pm On Oct 18, 2023
Mhizzard:
To me,owning a land and build house on it should be every man's priority in as much he is do in fine his lucrative business.car can never be your initial purpose,because how would you be living in a rent house and own a car,does really make a sense?no..having a house is like have peace of mind there be won't nothing like when this year end i will try my possible to pay upcoming rent fee before the present one get expire.
Archaic mentality. Car Is just a means of transportation. Owning one doesn't stop you from building a house

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by BigIyanga: 5:46pm On Oct 18, 2023
3ice9ce:


Private vehicle is only good for emotional feelings.
You are analysing issues from the standpoint of a pauper.
You are wretched but educated and It is your education that is your obstacle to your wealth.
Your type full Ikorodu and Mowe Ofada.
Yes.. I come from university of streets with Masters in experience. I have done it alll.. If I were to do it all over, I would choose a house/property -an asset over private car.. a liability. You need to go read up on basic economics. Calling people names shows that, this basic convo, is above your intellectual grade. You need to go work on your logical ability to discern facts from emotions. It’s a learned condition , which takes time to grasp… but it would help you a lot in life.

1 Like

Re: Between Owning A Car Or House Which Would You Advise Someone In His 20's? by Blitzking: 6:11pm On Oct 18, 2023
Easyincome24:
It's good one plans his/her life early enough to avoid story that touches.

Some of our parents never believed that the country will become what it is today.

My father told me how cheap lands were in the country when he was in his 20's. He regretted not investing enough due to shouldering many responsibilities especially bringing his siblings and extended families to the city. He nurtured them till they became of age. When he realized what's up, time has exceeded him as we the children have needs too.

Now, I'm asking the following question: between owning a car or house, which would you advice someone in his 20's to acquire first?

Both can yield returns as long as they can be used in the proper way for investment.

Can we have more people comment on this to help many who are still in their 20's and able to fund any of the assets?

Note: Some young folks are doing legit work earning in $$$. I have some techy guys in their 20's as software developers, Blockchain DAOs, Freelancers, Content creators, YouTube influencers, Social Media Marketers, 3D animators, AI engineer, Bitcoin minning. They evolve around tech working remotely. So, not all of these guys in their 20's are yahoo yahoo, at least these ones I can guarantee.

We engaged in a discussion where they raised the above question about which is best between owning a car or house at their ages.
Depends on ur line of business or how u make money...if u are a monthly earner less than 1m per month no near car...no buy house just look for a good business based on ur strength..but now smes are going through tough times in the country now..if u do deal that can fetch above 200k and u can be getting 3 or more per month just buy a house and mellow for a while live far below ur means..my younger sibling makes average of 20 to 230k per deal selling imported foreign used mobile phones and laptops and can do like 10 to 15 per month but ones money land na lounge for a week..go club buy a up dress like yahoo boy wey dey alway attract police..I don advise am I don tire..he get good cash flow but no sense...the secret of wealth is cash flow.. while me the ones I earn I look for where to invest / Behind up my crib u go enter think say u dey 5 star hotel...but some ppl no fit manage do small small...make their crib OK rather than wasting it on lodges. Wetin he go come my crib enjoy for 1 week for free he go spends hundreds of thousand of naira waste for lodge for the same 1 week and return to him poorly furnished apartment.

1 Like

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