CAR or CONDO UNIT?

[edl100]

Hi,

I may be out of date but I noticed that Cars nowadays are around the 1.2 MILLION on average price.

REVO or Corolla is around 900T
RAV4 is around 1.2 MILLION
Vans cost around 1.4 MILLION or more
SUVs average the 2.5 MILLION price tag
BMWs are on the 2.8 MILLION range to 7 MILLION for a 7 series.
MERCEDES is on the 3.8 MILLION to 10 MILLION for a new S-Class

I remember, a corolla 16V used to cost 333T in 1989?

With 3.5 million, You can get an EVO, a Porsche Boxter, A nice SLK BENZ or 5 series BMW.

My question is: If you have around 3.5 Million to spend on a car, would you buy one? or just get a decent CONDO unit in Eastwood, the FORT, ORTIGAS CENTER etc..... and keep your existing car or just a buy a simple car upgrade and go for the Condo unit as an investment??

[chris_d]

I'd keep my existing car and get a house/lot. A condo at the Fort would also be nice.

[BoyFerrari]

I think it is just extravagance to spend the entire P3.5 million on a vehicle, most especially that you already have an old vehicle which you can resell and help augment your money to buy a new one.

Almost all cars degrade in value over time. Real Estate properties increase in value over time. Which would you choose.

Again, you pay for luxury vehicles for the "coolness" factor. Mostly for prestige or showing-off... because you can survive with a much less expensive vehicle. So where you spend your money tells something about your priorities in life as a person.

[number001]

Buying an automobile is very wasteful due to its immediate depreciating value, as well as other costly maintenance fee which are due on a yearly/monthly/etc. basis.

Buy an automobile, only if your current car is about to die on you. Or if it requires too many repairs. In buying a replacement vehicle, stick with mainstream but reputable brands with good resale value (Toyota, Honda, etc), and avoid luxury brands (bye, BMW, Mercedes Benz, Volvo, Audi, etc..)

Buying a condo for Php 3.5M at the Fort is not enough, even for a studio unit only. At least as far as Serendra is concerned. Investing in other developers other than Ayala at Fort is not wise, given their unproven track record. Besides, I feel there is a glut forming at the Fort, with so many projects rising. Too much supply and too little local demand (buyers are mostly overseas Filipinos). Expect future rental rates to be quite competitive.

Eastwood? Forget about that place. Megaworld peddles such low quality projects, that the facade of its projects are litterly rotting with paint peeling and looking worn and dirty at this early stage in its life. Besides, their mall/entertainment/dining is quite paltry compared to other place. That 3.5M might be enough here but it would be a poor investment. The place is not really an integrated well thought/planned of place like Makati. It is just a very big lot that was hastily converted into its current form. Look at it, it is so boxed in.

[squala]

Yeah, look for a condo in a convenient enough location and made by a reputable developer, then keep your old reliable. ;)

[Josh0027]

get a condo

[grandestan]

This is a no brainer question.you know the answer, unless you have the wrong priorities in life

[chain]

get a condo na lang pero at a 3.5M budget in the areas mentioned, medyo kulang pa yun actually.

[revvvv2003]

I agree sa lahat ng kanilang sinabi. Ang real state tumataas ang value habang tumatagal ang kotse bumababa ang value habang tumatagal.

[gwapito69]

real estate ko na lang dadalhin yung pera. kasi kotse palaging nagdedepreciate ang value e...

[jlo1]

try to invest on a condo first. i have this idea regarding proportion...wherein the value of the car/s must be proprtionate to the value of one's residence. i can't imagine of having a very expensive car without having a decent place to live in first....just my opinion.

[badkuk]

think of it this way: ung real estate, investment yan. ung car, unless gamit mo sa business, is like a hole in the pocket B). you can go places with a car, but sooner or later you're gonna want to come home.

kung hindi mo naman kaagad kelangan ung condo, you could rent it out, then use the rental income para hulugan ung kotse :D btw, take note of the maintenance fees sa condos

[oldblue]

Hi,




My question is: If you have around 3.5 Million to spend on a car, would you buy one? or just get a decent CONDO unit in Eastwood, the FORT, ORTIGAS CENTER etc..... and keep your existing car or just a buy a simple car upgrade and go for the Condo unit as an investment??

if you have 3.5M and 2nd hand car, mag-down ka na lang both sa condo and sa car. get the best of both worlds.

yun hulugan yun na lang problemahin mo, may trabaho pa naman diba and may 2nd hand car ka pa naman, pang-emergency mo just in case d ka makahulog

[nugundam93]

car comparison nga. hehehehe. same sentiments with previous answers na.

cars depreciate, real estate increases in price.

[mazdamazda]

it all depends on your income level.

for some people... P3.5M is just a drop in the bucket.

[ian_rex]

Hi,

I may be out of date but I noticed that Cars nowadays are around the 1.2 MILLION on average price.

REVO or Corolla is around 900T
RAV4 is around 1.2 MILLION
Vans cost around 1.4 MILLION or more
SUVs average the 2.5 MILLION price tag
BMWs are on the 2.8 MILLION range to 7 MILLION for a 7 series.
MERCEDES is on the 3.8 MILLION to 10 MILLION for a new S-Class

I remember, a corolla 16V used to cost 333T in 1989?

With 3.5 million, You can get an EVO, a Porsche Boxter, A nice SLK BENZ or 5 series BMW.

My question is: If you have around 3.5 Million to spend on a car, would you buy one? or just get a decent CONDO unit in Eastwood, the FORT, ORTIGAS CENTER etc..... and keep your existing car or just a buy a simple car upgrade and go for the Condo unit as an investment??

for practical reasons, if have the money and have an existing car, i'll get a condo near my work. that way, i didn't have to drive to work and ease off the usage of my car. of course, anybody loves to drive. looking on the trend, the value of a condo always appreciates. a car on the other hand do not. and if you're single and would want to settle down, you could always get a house and lot after selling the condo unit.

[zechs]

i would get a condo unit at rockwell and not at the fort.

[BlueBimmer]

condo muna..then ipon uli for a nice car.

[the_wildthing]

Depends on how much you make. Tama si mazdamazda. I mean if you make 10M a year... well... or even more... But if that's all the money I have, I'd get the best real estate half of it can afford, and half to go to other stuff.

[111prez]

investment in real estate is always more prudent. the value always appreciates, more often than not

however, if you need a car in order to generate income, then you will have a rather tough balancing act to make since in this case your car is a necessity and you will need a reliable one. in this case, you may opt to get a lower valued real estate and spend the rest on refurbishing your car or get a more decent 1st hand or 2nd hand unit from the sales of your old car and your extra cash

forget about the need to have a nice car if you live in a condo. so what!

i know a lot of people with nice cars but only rent real estate

it is better to own your own real estate first

just my two sentimos worth