I regret buying a car instead of a $130,000 house

December 12, 2024 | 06:23 pm PT
I regret buying a car instead of a $130,000 house
Many people prioritize buying a car over a house. Illustration photo by Pixabay
Five years ago, my husband and I had the option to buy a VND1.2 billion ($47,000) house, but we decided on a VND600 million car instead.

We used the other VND600 million to plant a small garden in his hometown. Now, the car is worth only VND200 million, but that same house has risen in price to VND3 billion (US$118,000) and we are struggling to buy a home.

Sometimes, a small miscalculation can lead to big consequences. We are fine as long as life remains stable and we do not suffer major health issues. But I imagine paying rent can feel overwhelming in times of illness.

For me, whether the house is big or small is not as important as simply having a place to call home. Once you have that stability, you can pursue other goals. A peaceful mind gives you the confidence to do anything.

My husband now regrets not listening to me back then. He spent money on depreciating assets, and now we still do not own any significant property. Meanwhile, his health has declined, and work has become more challenging than before.

Reader bixanhhn

The comment was shared in response to a story by another reader, who was happy they bought a VND1 billion car while still renting.

Reader Minh Phuong voiced her opinion on the topic:

"I live in a house valued at around VND7.5 billion. At one point, I considered buying a car for VND1.7 billion, but after some thought, I chose to purchase a VND2 billion plot of land instead. Today, someone has offered to buy that plot for VND3.65 billion. In addition, I own a few other land lots and a small house.

I do not invest in massive properties, as I follow my father’s advice to buy smaller properties in various locations. This strategy allows me to sell quickly if I need cash, or rent them out easily when I do not.

For daily commuting, I use a SH scooter worth about VND70 million. For longer trips, I rely on ride-hailing services. When my husband and I travel or go on vacation, we use boats, planes, or rented cars. Overall, these options are more cost-effective than maintaining a personal vehicle.

Ultimately, whether you choose to buy a car or a house depends on your needs. Every family’s circumstances are unique, and there is no one-size-fits-all solution."

Would you prioritize buying a car over a home?

*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.

 
 
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