© 2022 Fairygodboss. All rights reserved.
Save money and buy a house or rent?
Ladies, I’m in a predicament. I’m 28 (almost 29) and I'm not at the age that I should be living at home. I have a full-time job and I broke up with the boyfriend I was living with so my rent has skyrocketed. If I find a smaller apartment and live on my own, I'll be living pay check to pay check and won't be able to save much. I want my own apartment and space but I do have the option to live at home and save. It’s enticing because I could save up for a house fast and stop throwing away my rent money. Thoughts?
Girly Girl
Lover of cinema
712
07/27/18 at 9:17PM UTC
I don't know where you live but it's not always such a great economic deal to buy a house. It's a real gamble if the property market goes south, for example. And it locks up all your cash in a non-liquid asset. I think it's pretty old-fashioned to think of rent as "throwing away money" actually, particularly if you have high cash needs in the foreseeable future or just need that cash to be more flexible in your decision-making on other things.
dvlpr
92
07/27/18 at 7:09PM UTC
I totally agree with the anon above! As cliche as it sounds, you could make a pros and cons list to help you make this decision. Good luck anon!
Anonymous
07/27/18 at 2:07PM UTC
It's up to you to decide your non-negotiables in life. If living at home would negatively impact your mental health, friendships, etc, then don't do it. But if it's more of a preference than a must, I'd say live at home for a pre-established set period of time with an aggressive savings goal. That way, you're motivated to stash away as much as you can in that period and you have an end date to look forward to.
© 2022 Fairygodboss. All rights reserved.