Buy a House First, Not a Car First - Real Estate Talk Real Estate Talk with Mr. Ishmael Long When making significant financial decisions, the choice between buying a house and a car can be challenging. While both are essential for different reasons, prioritizing the purchase of a house over a car is generally more advantageous in the long run. Here’s why. 1. Appreciation vs. Depreciation A house is an appreciating asset, meaning its value tends to increase over time. Real estate markets fluctuate, but historically, property values rise, offering a solid investment opportunity. In contrast, a car is a depreciating asset. The moment you drive a new car off the lot, its value drops significantly and continues to decline as it ages and accumulates mileage. 2. Building Equity When you buy a house, you start building equity with each mortgage payment. Equity is the portion of the property that you truly own and can borrow against or cash out if you sell. This accumulated equity can se...