Invest in houses not cars – Jackie Appiah advises stars

Entertainment of Friday, 26 June 2015

Source: Mustapha Inusah

Jackie AdvisesJackie Appiah

Award winning actress, Jackie Appiah, has advised her colleague actors to invest in houses other than cars which can be lost in no time and can therefore not be regarded as a long term asset.

The use of luxurious cars, among Ghanaian celebrities for some time now has become a tight pursuit as many Ghanaian celebrities find glee in buying ostentatious cars than invest their money into profitable businesses.

Jackie Appiah, who is among the few movie stars who releases luxuries cars every year with her name customized on the number plate on her car.

In an exclusive interview with Razz Newspaper reporter Mustapha Inusah, Jackie posited that it’s prudent for people to invest more in houses than cars.

On record, the actress has consistently acquired luxurious cars like Toyota Camry 2008 model, Nissan Murano, 2010 E120, 000 ultra-modern Range Rover, BMW X6 2013 model with the registration number customized with her name.

The actress, last week donated several items and an undisclosed amount of money to flood and fire victims at the 37 military hospitals and Nima (Uganda).

Asked when she’s going to change her 2013 car and buy a 2015 car, she said that her focus is more on things about the society and real estate than investing in new cars.

“For now apart from my yearly donations , and supporting the less privileged, I am also into real estate, so my focus has shifted from buying new cars , to doing more business now” She said.

Giving this reporter more reasons why she thinks investing in houses is more important than cars, she said that though houses depreciate compared to cars, houses has longer longevity.

“A car tends to wear out in 10 years (or 15 if you’re lucky) no matter how much maintenance you do. And the cost to fix them back to “brand-new” is more than the cost of buying a new car. So after some time you find you need to buy a new car, and you can’t sell the old one for much.

The depreciated value of the car after 10 years is approximately the price you’d get if you sold it, the combination of the land holding its value or even appreciating, and the house building also holding its value through good maintenance means that houses generally don’t lose much value over the years, unlike cars” she added.