Why Should You Buy A Home Before A Car?
There are a number of reasons why it's generally smarter to buy a home before buying a car. For one, real estate tends to appreciate over time, while cars drop in value as soon as they're driven off the lot. That means that your home is likely to be worth more in the future than your car, making it a better investment. Additionally, the interest you pay on your mortgage is usually tax-deductible, while the interest on your car loan is not. And finally, having a mortgage can actually help improve your credit score, while having an auto loan can sometimes hurt it.
So if you're thinking about buying a car, it's important to be smart about the timing and make sure you protect your credit because buying a house requires a good credit score and a sizable down payment.
Bottomline? Real estate is generally a more stable investment than a vehicle, owning your own home can provide important tax benefits and finally, having a place to call your own can provide peace of mind and a sense of security.
We are here to help you with every step in the home buying process!