Does your current car still in great condition?
Have a good mechanic estimate your car’s life expectancy. You should find ways, like simple repairs that can increase the life expectancy of your car. If you have purchased your car from used car dealerships, you should decide if the repairs are worth the money based on the car’s overall worth.
Will your overall living expenses drop when you purchase a house?
This should be simple. You just have to decide which living arrangement allows you to save cash the fastest. You have to consider the total cost of your current rent and utilities versus the cost of a mortgage, utilities, homeowner’s taxes, and insurance.
How much do you save in a month?
Let us say you are going to buy a house first. So how long will it take for you to have enough cash in order to buy a car in Florida outright?
Are you expecting decent short-term real estate appreciation in the housing market you plan to buy into?
You can consider speaking to a real estate agent about the current numbers on the local market. You should also see if home prices are rising or sinking.
While most people would say that it is better to purchase a home first, it completely depends on individual circumstances. If you really want to have a new car to drive around town, why not consider used cars that may allow you to save extra cash compared to buying a brand new car? Or if you really want a house where you can live independently,
then start visualizing its interior design now. Ponder on these questions and live the best years of your life in full bloom.