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My young adult daughter (23) lives at home. She's a blessing to us -- she works full-time, she likes to cook, she does her own laundry, she is actually far neater than I am, keeps the kitchen tidy, she helps walk the dogs, always asks if we need anything from the grocery store, etc., etc. I will miss her sunshine and enthusiasm dreadfully when she moves out. She's anxious to get her own apartment, but realizes that, financially, it makes more sense to live at home for a little while and build a bit of a nest egg. We don't charge her rent, but she does take care of her own needs/wants. We sat down and worked out a budget the other day for an apartment -- things like renters insurance, cable, electricity, etc., etc. She is extremely mature -- she lived on her own in college, worked and graduated (with honors) in four years. I'm not worried about cramping her emotional growth. :-)
I think some people have been a bit rough on the OP. For the record, I don't think it's bad to live at home for a while after college, but there should be a time limit or plan to leave the house sooner than later. I don't think planning to stay for 5-10 years is a good idea.
well, after so many suggestions have you made up your mind yet?
My suggestion would be, live in with parents for a 1 year or two and here's why.
a. You have ample time to concentrate on your career advancement
b. You save a lot more, if parents are not asking for rents, you can do other things to help (like help yourself).
c. You have peace of mind in regards to worrying about landlord and other craps
d. Layback and enjoy a year or two without having too much responsibility while you're young.
e. It doesn't have limitation on dating or romantic life (depending on how your parents are)
When you have saved up a good chunk of $, you can look for a flat of your own and CAN still enjoy life and by this time, your career may be more prosper; making more $.
It really is depending on what you plan to do now, working, dating or continue on a relationship and building a family.
I landed a job right after college that pays an ok salary for my area (60k/year in metro Atlanta). The job is around 10 minutes away (w/o traffic) from my parent's house. The cost of living in the city my parents live is fairly high (the average family income is like 140k/year to give you a reference) and the city my job is located has an even higher rent. I don't want to spend most of my salary on rent. I could live in a cheaper area, but it will be a lot more in commute time.
My parents have more than enough room for me (it's a 5 bedroom house and there's also a mother in law suite - and I'm an only child).
I told a few people about my plan, and they told me it was weird and that I was acting like a spoiled brat. I don't know, I'm still going to do it, but is it really that weird? I read that a lot of people my age (21) are still dependent on their parents/will live with their parents after college.
I don't see any problems with your plan. If your parents are fine with it then go for it. One thing that I would say is save as much money as possible. Pretend that you are paying rent to live there. Pay the same rent and bills as any other person that chooses to live in that area. Place it in a savings account or some other investment instrument. Inform your parents of your goal and continue to save the same amount as it would cost for you to live on your own. Chances are your parents will realize that they did well as parents.
If you can do this for the next 4 or 5 years chances are you will have saved the money to buy your own place. Here is where it gets cool. When you buy a place of your own, purchase a duplex or a 4 unit apartment building. Have the tennets pay the mortgage. My sister and her husband lived with his parents, saved for a condo, and when they bought that his parents asked them to keep living with them, so they rented out the condo. They then saved for a home and when they had that the parents asked them to stay so they rented that out. Now they own 6 homes, a 4 unit apartment building and two condos in California and two more homes in Arizona near my parents home.
An old freind did the same thing back in the mid 80's. He was able to save for a lot and build his dream home on it all before he was 28. He still lives in that home with his wife and kids.
I lived with my parents for a while after graduation and also had a good job. It made sense since they were gone a lot, and I was gone all day and often all week-end with my boyfriend and always had my dedicated room in a large apartment we had then. We saved on utilities, apartment payments and groceries, shared all the bills, cleaning and cooking. There was always a pressure to leave though, unsaid as it was, but thoroughly felt by me. In one year after that I married, and it was time to move out. Can't say it was easy: I like keeping distance and am very protective of my personal space, so at times it felt a little suffocating. But do whatever feels right to you, no one be the judge. I think it's perfectly normal and natural to live with your parents, your closest family, and share the expenses to save until you have a family of your own and/or need more personal space. Now if I were working from home and both my parents were retired or more controlling, it would probably not be the best match and we would get on each other's nerves
I don't think it's weird as long as everyone is happy with the arrangement. It only becomes a problem when the child refuses to move out way past the time he/she is supposed to be independent and continues to mooch of the parents. It sounds like in your case, your parents don't mind you staying although you aren't reliant on them. In my case, I valued my independence too much to want to live with my parents just to save a bit of money.
I work full time but really don't earn enough to move out on my own. I'm so emotionally and physically drained after working my 1st job that getting a second one is out of the question. With jobs and the economy the way they are I can see the return of multi generational households like you see in a lot of the world. I know college graduates making $9-12 hour with no benefits. It's difficult to live on these wages living with your parents never mind buying a home or renting an apartment in a decent area.
Seriously, you compare a 21 year old kid who just reached the drinking age to a 40 year old woman?
Yes. They both still live with Mommy and Daddy.
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