Should I Upgrade to A Larger House or... | FerrariChat

Should I Upgrade to A Larger House or...

Discussion in '458 Italia/488/F8' started by PhilNotHill, Sep 27, 2011.

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  1. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
    27,855
    Aspen CO 81611
    Full Name:
    FelipeNotMassa
    Buy a 458 Spider

    it will take 3 years to get a spider thru the dealer.

    or I can buy a "used" model.

    Which will fall faster in value? The house of the 458?

    Serious question. The RE market continues to slide. Is there a bottom in sight?
     
  2. Rcktrod

    Rcktrod F1 Rookie

    Dec 21, 2010
    3,946
    USA
    LOL, there's an old saying..."you can live in a car, but you can't drive a house."
     
  3. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
    27,855
    Aspen CO 81611
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    FelipeNotMassa
    LOL. My wife wants the house. Prices are still too high IMVHO.

    A house is an investment (not really...it's a depreciating asset). However, there are lots of places on the market. You can back up to a national forest with rock outcroppings, or you can live on a gold medal river with 1,000 ft of fishing access, or you can have panoramic views of the Continental divide, or you can have a place with a creek running through your back yard, or you can stay backed up to a greenbelt and a stream and get a 458 Spider.

    Decisions, decisions.

    Life is good.
    Life is better driving a Ferrari. :cool:
     
  4. mkultra

    mkultra Formula 3

    Nov 3, 2004
    1,705
    Chicago, IL
    Full Name:
    MK Ultra
    compromise? wifey gets her dream home and you get a 458 Italia? trade for the Spider later.
     
  5. Garretto

    Garretto F1 Veteran

    Sep 3, 2003
    5,070
    Bilbao, Spain
    Full Name:
    Rodolfo Di Pietro
    LOL, classic!!! :D
     
  6. Lesia44

    Lesia44 F1 World Champ
    Silver Subscribed

    Aug 5, 2009
    17,890
    There is a third option: Get a new wife... :)
     
  7. tuttavelocita

    tuttavelocita Formula 3

    Aug 26, 2007
    1,453
    #7 tuttavelocita, Sep 27, 2011
    Last edited: Sep 27, 2011
    This option is proven to be very costly when the OEM wife who is obviously out of warranty and unless you were smart enough to buy the extended warranty plan (aka prenup) decides to 1) Hire the best divorce lawyer in CO that bills over 500/hr 2) Decides she wants everything or at least half including the house and his ferrari (to spite him) 3) Also gets alimony, child support and the rights to his next 30 pay checks.

    This leaves you with very costly lawyer bills x2 (because you had to hire one also) but leaves you just enough to buy used Scion TC that smells like bubble gum and strippers on the inside!



    No i have not been divorced...or married, im just this jaded !! haha
     
  8. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
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    #8 PhilNotHill, Sep 27, 2011
    Last edited: Sep 27, 2011
    My wife just told me that the main place we were looking at just went under contract. In this market. It was not perfect but maybe the best of the bunch. We are looking at other places today.

    Will not buy a 458 Italia...to me a sports car has no top. the 360 Spider and the Boxster S will have to suffice in the meantime. :cool:
     
  9. 4re Nut

    4re Nut F1 World Champ

    Mar 27, 2004
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    Steve
    Why not move up the food chain in increments and go with a 430 drop-top or 16M while you wait?
     
  10. tuttavelocita

    tuttavelocita Formula 3

    Aug 26, 2007
    1,453
    Phil how is the market in CO? Oregon has been steadily dropping and people don't think we've hit the bottom yet. Also we seem to recover slower than other markets, I've been looking at more rental/commercial properties as of late to move money out of the market and into something a little more tangible and higher rate of a return than a treasury bond!
     
  11. Rcktrod

    Rcktrod F1 Rookie

    Dec 21, 2010
    3,946
    USA
    I think that's probably the most expensive of all the options..."the gift that keeps on taking."
     
  12. MommasBoyOnline

    Jul 21, 2011
    52
    Washington D.C.
    Full Name:
    Matt Simmons
    Well with a house, there's a good chance it will be with more if the market picks up. Won't happen like that with a 458 Spider. I say, please the wife! You already have a great car. :D You could always keep looking, lower the budget 200 grand, and do both!
     
  13. Zinger

    Zinger Formula 3

    Apr 11, 2009
    1,894
    Leesburg, Va
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    Ryan M
    Happy Wife=Happy Life. Have to have a balance to please ALL!!!!!!
     
  14. KKSBA

    KKSBA F1 World Champ
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    Oct 31, 2003
    15,298
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    The answer is - GET THE CAR
     
  15. Mattyrae

    Mattyrae Formula 3
    BANNED

    Apr 17, 2011
    2,048
    As soon as you buy one, I am sure he will follow your lead. Seriously, a 16M and a 458 are priced within 50k of each other, not much savings, and I only mean the cheaper 16M's.

    I am where you are, I am done with cars for a while, 4 in one year is enough, I am looking for property or a good deal on an existing home. Lot's of great deals available, you can get something really special for close to $100 / sq. ft. in my area, but then it will never be exactly like you want it. Property first, then design.
     
  16. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
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    Aspen CO 81611
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    FelipeNotMassa
    We found a perfect size house overlooking the Frying Pan River and beautiful views of Mt. Sopris which is awesome. Not in Aspen so the price listed is over a million dollars less.

    That means we can keep the condo in Aspen and buy a 458 and have money left over after we sell the lake house and one of the Aspen condos.

    I have already been approved for the loan so this could all happen.

    Real estate prices in Aspen have been firming. Not so good down valley. the house is 18 miles away in Basalt. Some comps have been selling lately for the asking price.

    My wife loved the joke about you can live in a car but you can't drive a house.

    Life is good.
    Life is better driving a Ferrari.
     
  17. KKSBA

    KKSBA F1 World Champ
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    See, you can have your cake and eat it too! Congrats :D
     
  18. 4re Nut

    4re Nut F1 World Champ

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    Steve
    Congrats. It's great to have options especially when either way you get to drive a Ferrari. :)
     
  19. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Bcus I think 430s and 16m are fugly.

    The 458 is iconic beautiful, especially the spider.
     
  20. 4re Nut

    4re Nut F1 World Champ

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    You must be half blind.

    You have a great eye for design.



    :D :D :D
     
  21. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Indeed.

    I like the curved look (250 TR) vs the angular in your face look (430 and Lambos). The 458 is one of the prettiest Fcars ever built. My only issue with the spider is no engine window. I would rather go topless than have others see the engine. I do love my engine window in the 360.

    Beauty is in the eye of the beholder and taste is after all a matter of taste.
    there is no right or wrong. Time will tell. After all it is what melts your butter.

    Life is good.
    Life is better driving a Ferrari.
     
  22. Rcktrod

    Rcktrod F1 Rookie

    Dec 21, 2010
    3,946
    USA
    Fantastic. Hope it all works out for you in the end. Reality is, you sound like you already have a good life, so it's all good. But it will be better with a 458!
     
  23. spriggan

    spriggan Rookie

    Sep 23, 2011
    7
    NZ/HK
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    Jo
    For a house, it will increase in value over time, and for cars, it will only depreciate. 458 and the 458 Spider is bloody beautiful.....but see that you have 2 fine cars already, maybe investing in a bigger house is a better option. Plus your wife will be super happy and she might give you something in return! Good luck on your decision.
     
  24. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    We are under contract to close Jan 30th.

    then we sell the lake house and one of the condos is Aspen. When that happens I will have the do-re-mi for a 458 spider. I think we are talking months, not years.

    Life is good.
    Life is better driving a Ferrari.
    Life is best driving a 458 Italia spider. :cool:
     
  25. PhilNotHill

    PhilNotHill Two Time F1 World Champ
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    Jul 3, 2006
    27,855
    Aspen CO 81611
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    #25 PhilNotHill, Dec 30, 2011
    Last edited by a moderator: Sep 7, 2017
    2 car garage heated.
    Built 2005.
    5 bedrooms 3.5 baths.
    5903 sq ft.
    1/3 acre with unobstructed views. Natural landscaping...no yard work.
    heated floors.
    air conditioned (nobody has a/c here)
    Main floor master suite with office.
    world class kitchen.
    two decks with mountain and valley views.
    Media room.

    Looking at living room.
    Image Unavailable, Please Login
     

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