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Should I Move Home?
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SOLIDAge
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Mar 7, 2006, 02:32 AM
 
:dunno:

Right now making around 42k a year.
Place i'm looking at to live in is around $1200 a month after utilities. I pay around $600 now, but our lease is up and the place SUCKS

I need to save money for a new car the most mine is a PIECE and is dying, and hopefully a house in the future...

the commute would suck (around 50 minutes from work to parent's) but other then that?

Worst thing about it? The obvious status of "Oh i live with my parents"

Is this a good financial move?
     
TailsToo
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Mar 7, 2006, 08:32 AM
 
Once you have freedom, it's hard to go back. On the other side of the coin, I have a friend who is 32 and still lives at home - he was smart and saved enough over the years to where he can almost buy a house with cash now.
     
Y3a
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Mar 7, 2006, 09:38 AM
 
I had bought a townhouse, moved out, and 2 years later got layed off. I worked as a Temp DTP/office admin, but even with a second job, I couldn't make it anymore. I moved out, and rented my place for 4 years until I had a good job, and had paid my credit cards off. I got to take care of my folks, help my dad build his model railroad layout, and had no life.

Now I'm 50, layed off, and my fiance' is threatening to leave because the $ I made when I sold that townhouse is almost gone, and I can't hardly get interviews at my age. I own a much bigger house and lots more furniture and big toys. I may have to move home or in with friends. Somebody shoot me!
     
Dakar
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Mar 7, 2006, 09:41 AM
 
I can't imagine anything worse than living with my parent(s).

Live in a broom closet if you have to, but have somewhere you can call home, and do whatever you want, whenever.
     
Nicko
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Mar 7, 2006, 09:44 AM
 
Originally Posted by SOLIDAge
:dunno:

Right now making around 42k a year.
Place i'm looking at to live in is around $1200 a month after utilities. I pay around $600 now, but our lease is up and the place SUCKS

I need to save money for a new car the most mine is a PIECE and is dying, and hopefully a house in the future...

the commute would suck (around 50 minutes from work to parent's) but other then that?

Worst thing about it? The obvious status of "Oh i live with my parents"

Is this a good financial move?

Get a roomate? 1200 a month on 42k a year is pretty tight isn't it?
     
Dakar
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Mar 7, 2006, 09:49 AM
 
I'm unfamiliar with city life, but what in god's name cost $600 a month in utilities?
     
Mastrap
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Mar 7, 2006, 09:55 AM
 
Originally Posted by SOLIDAge
:dunno:
How old are you?
     
OreoCookie
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Mar 7, 2006, 10:37 AM
 
I would fight not to move back home. I love my parents, but I also love my freedom … just imagine you meet a girl and you have to tell her `I make 42k a year and I live with my parents'
I don't suffer from insanity, I enjoy every minute of it.
     
euchomai
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Mar 7, 2006, 10:43 AM
 
There has to be other options, but your future is so important. Short term sacrifice for long term happiness will pay off.
...
     
Paco500
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Mar 7, 2006, 10:47 AM
 
I'd get a second job, live in a crappy place and drive a crappy car before I went back.

But that's just me.
     
Paco500
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Mar 7, 2006, 10:47 AM
 
Originally Posted by Y3a
I had bought a townhouse, moved out, and 2 years later got layed off. I worked as a Temp DTP/office admin, but even with a second job, I couldn't make it anymore. I moved out, and rented my place for 4 years until I had a good job, and had paid my credit cards off. I got to take care of my folks, help my dad build his model railroad layout, and had no life.

Now I'm 50, layed off, and my fiance' is threatening to leave because the $ I made when I sold that townhouse is almost gone, and I can't hardly get interviews at my age. I own a much bigger house and lots more furniture and big toys. I may have to move home or in with friends. Somebody shoot me!

What industry are you in?
     
kikkoman
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Mar 7, 2006, 10:52 AM
 
Hmm sounds like a movie. Well I did move home after I finished school and then got my first real job and saved about 40K for the downpayment on my house.
     
Paco500
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Mar 7, 2006, 11:37 AM
 
I'm not saying there is anything inherently wrong about moving back home, but for me, it wasn't good. I did it for about 6 months. I was in my mid 20's and had given up on one location (Outer Banks of NC) and one industry (mortgage business) and moved back to Northern Virginia and got in to IT. I had no real experience and was earning a pittance. As soon as I could afford to rent a room in a house with some other guys, I did it. Having to constantly justify my life and choices to my mother (even though I don't believe she was being actively judgmental, the proximity bred conversations that otherwise would not have happened) was stressful. I drove a car worth about $200 on a good day and lived in a room the size of a walk-in closet, but they were mine and that was good.
     
jebjeb
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Mar 7, 2006, 11:51 AM
 
It depends on what you and your parents are like as individuals.

I for one would never move back in to my parents place. Beside all the obvious reasons, I wouldn't want to effect their life like that. I know they wouldn't mind me doing it for a bit if I really needed to but it wouldn't be healthy for either side. It would restrict them in what they can do in their own home and any other plans they may have.

I know that there is the parental instinct and a certain responsibility but think about it here. What would you do if you were living with your partner and then your best mate said he needed somewhere to stay for a year or two. He was going to pay you reasonable rent and such but wouldn't this affect your life as well as the relationship between you and your partner? I don't let anyone stay in my house for longer than a couple of weeks. I'm not being selfish, I am just looking after my wife and mines space and privacy.

Here's a disturbing image but what about if you parents want to run around their house naked and make mad passionate love on the kitchen bench? One would hope they would not do that when you were in your bedroom but there is a good chance that were looking forward to being able to do that spontaneously as one of the good things about getting rid of all their kids out of the house. If you went back to living there, they would have to plan that more. Plus, now you are an adult, it's not like they can boss you around as much either.

All people are different and maybe your parents would love having you back for a while. However, it is such a tough one to get their real feelings about as they most probably would not want to appear... selfish (?).

Knuckle down, cut your outgoings, get a paying house mate. Surely 42k in the states is not a bad wage.
     
Paco500
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Mar 7, 2006, 12:10 PM
 
42k in the US is a great wage is about 80% of the country and not so great in places like NYC where I believe our young friend is. It's not bad for a young single guy at all, but it's not live like a king either.
     
SSharon
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Mar 7, 2006, 12:13 PM
 
Does anyone think their answer would change if there were still other siblings living at home?

As for the OP, I would try to find a roommate to split the costs with.
AT&T iPhone 5S and 6; 13" MBP; MDD G4.
     
jebjeb
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Mar 7, 2006, 12:30 PM
 
Originally Posted by SSharon
Does anyone think their answer would change if there were still other siblings living at home?

As for the OP, I would try to find a roommate to split the costs with.
It would for me as it wouldn't particularly alter the parents living arrangements.
     
MaxPower2k3
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Mar 7, 2006, 12:41 PM
 
Unless you spend a lot elsewhere, it doesn't seem like $1200/month should be too hard to afford on $42k/year... that leaves ~$28k after rent. Even if you put half of that into savings, you've still got around $38/day for living expenses. Sure, you won't be able to go to the bar every night, but that's plenty to live off of (I live in Manhattan on far less)

"I start fires!"
     
wolfen
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Mar 7, 2006, 01:08 PM
 
Depends...is your Mom hawt?
Do you want forgiveness or respect?
     
SOLIDAge  (op)
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Mar 7, 2006, 01:09 PM
 
To clarify a little
for the record I am 23, and a college graduate.
The place I am in now is around $600 a month AFTER utilities and stuff...
the new place would be around $1200 a month AFTER utilities also.

My parents tell me EVERY DAY what a fool I am for living in an apartment and not with them. They believe that it is imperative for me to save for a home/condo and I hear about it daily...so there wouldn't be a problem at all going back in. The one plus is that my parents work the complete opposite schedule I do, so there wouldn't be much in terms of interaction honestly.


42k is a decent amount...but the fact that I Live in CT it is hard to get by at 42k
     
wolfen
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Mar 7, 2006, 01:16 PM
 
The American culture is probably too skewed against family support. In future, our economy will balance out with the rest of the world and this will become as common as it is elswhere and for the same reasons.

Go for it, and consider yourself cutting edge.
Do you want forgiveness or respect?
     
The Godfather
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Mar 7, 2006, 01:42 PM
 
^ That's right. In Latin America, young working adults live with their parents until they get married (late 20's), then the couple rents their first apartment.
     
wdlove
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Mar 7, 2006, 09:43 PM
 
I lived with my parents till I got married. It is a good way to save money. Even more so today.

"Never give in, never give in, never, never, never, never - in nothing, great or small, large or petty - never give in except to convictions of honor and good sense." Winston Churchill
     
The Godfather
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Mar 9, 2006, 12:06 AM
 
You'll never be able to spank it in front of the computer, but think of the money you'll save.
     
smacintush
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Mar 9, 2006, 12:10 AM
 
Follow your gut instinct. It's always nearly right.
Being in debt and celebrating a lower deficit is like being on a diet and celebrating the fact you gained two pounds this week instead of five.
     
volcano
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Mar 9, 2006, 12:13 AM
 
Originally Posted by The Godfather
You'll never be able to spank it in front of the computer, but think of the money you'll save.
Buy a lock for your door. Problem solved!
     
rozwado1
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Mar 9, 2006, 12:28 AM
 
Making 42 and living in an apt is way better than making 42 and living at home (for your social life). If you're into having sex with girls (or guys?) I'd advise you to keep your own place.
     
dcmacdaddy
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Mar 9, 2006, 12:46 AM
 
I think this is a question of short-term gain versus long-term gain.

If you can stand living with your folks for a year and save your current rent allocation, that is $7200 towards a down-payment on a condo. Throw a few extra bucks into savings for eating your folks' food and you could have $8000 or so in a year's time to buy your own place. I would do it for six months and if it isn't a terrible hardship, stick it out for a whole year. That's $8000 in your pocket you wouldn't have had otherwise. You'll be pushing 25 ready to buy your own condo. Plus, I'd bet you would get major props form your folks for "doing the right thing". Hell, after a year they might even throw some $$ your way to help with a down payment on your own place. I would go for the long-term gain and move back home.
One should never stop striving for clarity of thought and precision of expression.
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TheMosco
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Mar 9, 2006, 01:41 AM
 
Sorry if you already said no to this, but I would get a roommate or roommates. i live in a 4 person apartment and thats 375 each plus utilities each. I am still in college but I am plan on living here after I graduate or finding somewhere else to live w/ some friends from my fraternity.

I would probably stab myself in the face if i had to live with my parents again.
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