No longer can get my M3 for now

[chmura]

This is a happy and a sad day for me.

I just purchased my first new home and its a newly built house too. I turn 30 this month and my goal was to become a home owner by the age of 30. Putting around 40% down on a house, now with a mortgage, furniture, appliances, upgrading flooring, etc. The next month or so I will easily spend another $20k on the house.

I'm coming from a 400 square foot apartment into a 2500 square foot house. I basically have NOTHING to move into the new house. Buying everything new.

Its not a smart idea I purchase something expensive like a new M3 when I have not even paid for my first mortgage payment yet.

Looking to purchase a new car in the 35k range now. Maybe a 2011 STI hatch, or used e46 M3. Hard to find a low mileage 6MT competition package.

M3 was always my dream car. Hopefully I can own one soon!

My next goal is to own a brand new Porsche GT3 or GT3 RS by the time I turn 40. Lets see if I accomplish this goal.

[SunnyD]

House is more important than an m3. Get that settled and then get your dream car!

[301Bimmer9]

Congrats on the house. No one can hate on a 2500 sq ft house in SoCal and a $35k car man. Why not keep what you have for awhile if its paid off though?

Replenish your savings then go silly later.

[JCtx]

Originally Posted by chmura

My next goal is to own a brand new Porsche GT3 or GT3 RS by the time I turn 40. Lets see if I accomplish this goal.

NEVER make those kinds of goals man ; they're only trouble, especially if married and with debt... and on a bad economy. Do it when it's SMART to do it, be it at 35, 45, or even never. I could buy a GT3 cash now if I wanted to, but will never justify it, even though I own several homes out right, and have substantial savings. I wouldn't even spend $35K right now in your position, but that's just me . Congratulations on the new house.

[Scoobe]

Might want to look at the new mustang GT as well, fits in your price range and has roughly the same performance of the M3.

[richardbb85]

mustang ftw!!!!!!!!!!

lol

[Frozen Black Panther]

e46

[rabman5]

I live in my car. But congrats on the new home!

[M3 Esq]

Who needs a house?

You of course made the right decision. Enjoy the house - nothing quite feels like the pride of home ownership...then that wears off and you will need the car.

[spyderco10]

Originally Posted by rabman5

I live in my car. But congrats on the new home!

nothing wrong with this

[jacobe92]

Don't be to discourage you made the right decision. I bought my house first then waited a couple of years to get my M3. It's only going to make it sweeter once you get it. Two years ago my wife and I went on a business venture that went SOUTH, had it gone well I would have been driving a Porsche 4s. Make no mistake I love my M3.

[crackberry]

for being responsible.

[chmura]

Thanks guys, I know in the long run its a smart move not to purchase an M3 now. Before purchasing the house I could of bought a brand new GT3 RS cash. I was even considering it. But it wouldn't be smart driving a brand new GT3 RS and living in an apartment.

The house I bought at this age is much much more then I expected I would ever buy. Orange County is an expensive area to buy a house in. So I am grateful to have such a nice house at an early age in life. Thanks to my wife and my family. I put a BIG down payment so my monthly payment would be low. I don't want to spend 50% of my monthly income on the mortgage. Still want to afford a nice car later on. Love to travel too.

[Leonardo629]

I think you did the right thing....except the big down payment part.

I could have bought a Gallardo a year ago as well...but I opt to open a restaurant instead. Hopefully you'll get your GT3 RS in 10 years...and I'll be cruising in a Lambo when my business becomes really successful, good luck bro~

[mocsman]

could have bought a plane but decided to get a scooter instead... responses to threads like this are becoming so predictable

[IRMthree]

like others said, i think you did the write thing moving up from a small apt. to a house...you can always pick up a used E9XM later on when you're ready

[signes]

nice more chmura, looks like a good time to get into the housing market, too. BTW, there is a low mileage E46 M3 ZCP in the classifieds section. Looks really nice and I think the seller is asking low $30s. Would be a great car.

[HebrewhaM3r]

Originally Posted by mocsman

could have bought a plane but decided to get a scooter instead... responses to threads like this are becoming so predictable

AAAAAAAH hahahahahahahahahahahahahahahahahahahaha

[cmk227]

Hey buddy. You did then right thing. The first M I owned was in 2002 when I was 24. Unfortunately I started as a financial advisor, bought a house and got married. Due to bad investment choices ended selling the car before it would get repo.

I am still in the same line of business . and in 2008 after 6 years of waiting bought a 2002 Conv AC-Schnitzer that the guy had put $30k with 80,000 miles for $20k cash. He was getting it repo.

I am finally buying my 2011 coupe next month. I guess what I am trying to say is it better to be comfortable with the car payments or have the cash to pay it off instead of buying it prematurely and than end up losing it because family and house should come first.

As long as i am concern you will always be one of us.

[chmura]

Originally Posted by Leonardo629

I think you did the right thing....except the big down payment part.

I could have bought a Gallardo a year ago as well...but I opt to open a restaurant instead. Hopefully you'll get your GT3 RS in 10 years...and I'll be cruising in a Lambo when my business becomes really successful, good luck bro~

Big down payment was because I wanted a low monthly mortgage payment. In case my wife decides to not work once we have a baby we can make it on one salary. Which we can now.

[saeedg48]

Congrats! no feeling better than meeting a goal.

[jayjaybelbel]

congrats man..30 yrs old with a house and in OC, i won't complain...like what they say, you can always get that M a few years from now..