[1cleanm6]

i dont pay rent. Please lets not get into my personal life, its no ones business but my own. Get off the haterade just because I have parents who support me and dont mind I save my money for my own future. Props to them, the end. If you have nothing to good to say dont.

Lets stay on topic, so what expenses you guys run into>

[Shieldze1025]

I've pretty much lived on my own after high school- 4 years of college 500 miles from home, 2 years on my own, and now I'm moving 6,000 miles away. It's definitely an eye opener, but I would suggest renting a condo for a year and see how you like it. It's not crazy expensive and really is the only way to see if it's for you. I think buying a place straight from living with your parents us risky. You'll be shocked at how much money it costs living on your own, and even more so when you own the place and have to pay for maintenance. It's more than just food and bills.

[Seminole]

Originally Posted by Freakazoid

By your post it almost sounds like you're trying to explain yourself as the norm (23 and living at home). I promise you, you're not...
Your preference of what you want to move INTO, is completely up to you. condo, apartment, house. If you're mature enough to fully take care of a house...go for it. But honestly if you're 23 and living at home, you're not 'real world' mature enough.

I'm 23. I live at home, and by choice. It has nothing to do with me not being "real world" mature enough, but all about financial sense. My parents live 5 miles from my office and I get paid mileage for travel in excess of that 5 miles, so at $.50 a mile I'm making between $120-300 a week just for driving. The areas around my office are towards the expensive side, so any place I'm going to get on my own would be a good deal further away. So that's one benefit. Also, my girlfriend is in another city finishing up school. She plans on moving down once she's done and we'll get a place together that is central to both our jobs. I don't really need to have a place on my own right now since I'm probably going to have to move in a few months anyways when she'd done with school. By living at home for the 9 months between when I started work and when she'll graduate I get to bank an extra $1,500 a month. That's $13,500 saved. That doesn't even take into account things like utilities, internet, cable, etc, so the savings are even higher. Seems like a smart financial idea to me.

[ragingclue]

Originally Posted by 1cleanm3

i dont pay rent. Please lets not get into my personal life, its no ones business but my own. Get off the haterade just because I have parents who support me and dont mind I save my money for my own future. Props to them, the end. If you have nothing to good to say dont.

Lets stay on topic, so what expenses you guys run into>

Ah ok, so you don't pay rent as-is.

Well, grats to you for trying to get out on your own two feet at least....

[Quick6EF]

Originally Posted by Seminole

I'm 23. I live at home, and by choice. It has nothing to do with me not being "real world" mature enough, but all about financial sense. My parents live 5 miles from my office and I get paid mileage for travel in excess of that 5 miles, so at $.50 a mile I'm making between $120-300 a week just for driving. The areas around my office are towards the expensive side, so any place I'm going to get on my own would be a good deal further away. So that's one benefit. Also, my girlfriend is in another city finishing up school. She plans on moving down once she's done and we'll get a place together that is central to both our jobs. I don't really need to have a place on my own right now since I'm probably going to have to move in a few months anyways when she'd done with school. By living at home for the 9 months between when I started work and when she'll graduate I get to bank an extra $1,500 a month. That's $13,500 saved. That doesn't even take into account things like utilities, internet, cable, etc, so the savings are even higher. Seems like a smart financial idea to me.

It's usually that dusty lamp in your pants that becomes an issue.

[Seminole]

Originally Posted by Quick6EF

It's usually that dusty lamp in your pants that becomes an issue.

I agree. If I didn't have a GF I can see how it would suck trying to bring girls home. Since I don't have to worry about that, I think my situation is pretty good.

[FDfranklin]

I would say its time to move out if you are not in school and have a job, period. But that's just my opinion.

I moved out when I was 17, rented apartments until recently where I rent a condo with my girlfriend.

I know you are looking for numbers but everything is different depending on your location.

Here's a short list of payments per month:


Rent: 450$ (gf pays the other half, another 450)
Electric: 190-250$
Cable: 95$
Car Insurance: 220$
Car payment: 450$
Food: 600$ ? (Some months its worse than others, although you can cook you will wanna eat out alot)
Alcohol: 250$ ish

It really adds up and im not including gas, things I do for fun, marijuana... etc (jk about the marijuana incase I piss blake off and he tells the police on me :-P )

It will give you a good sense of living in the real world though, I learned a good lesson when I was 19 about trying to cover these expenses and owning a highly modified FD rx7.. who was I kidding..

[FStop7]

When I was 18 I moved out to go to college. I moved back in after my first year. I didn't go back to school and lived at home for around another year. I had a job but didn't pay rent. I moved a second time for around another year and then back in for 3 months. The third time I moved out was the last, from then on I was able to support myself. It takes time for some people. I must have been right around 22-23 when I moved out for the last time. My parents were always fine with me being at home because they knew I wasn't going to be there forever.

[Hawkeye]

Originally Posted by 1cleanm3

ok fine i lied i was a pretty spoiled little kid lol.

At least you are truthful...

I live in a townhouse right now and I would say before deciding on one READ the ByLaws. I didn't read them fully and they have some stupid ass rules that I absolutely hate.

I would say after living in a townhouse that a real house would have been better. I would prefer to own my land to and do with it as I please. Even if the quarters are not as nice I am decent as a handyman so I guess that doesn't matter as much to me.

With the HOA dues and mortgage, I could have gotten into a pretty decent house for about the same monthly payment, which would have been better in my case.

I cook, but even if I didn't really I would say about $400 for food a month (I am on a meal plan so I make my meals most of the time), unless you eat out a lot or have people eat over a lot. You also have to think about bills (gas, elec, water, garbage) as well as taxes on the house/townhouse/condo which differ by area.

All of the little expenses add up real quick when you live alone though. Will make your car payment not seem so bad

[ragingclue]

Learn to cook even in the most basic sense. It will save you tons of money and will ensure you're receiving a properly balanced diet. You don't have to be Emeril, but if you let your stove/oven rot and just eat shitty food (mac n cheese, cheeseburgers, pizza, fried chinese food), you're doing yourself a terrible disservice. It's actually pretty easy to cook a lot of decent meals. Most of the problem that people have is that they're too lazy to want to deal with cleaning up the dishes. That's why I do them before I sit down to eat. It's not that hard and the shit comes off a lot easier right after you're done cooking.

[duyh]

So much hostility from everyone geez. If your parents aren't kicking you out I'd say stay at home. The housing market is a buyers market right now though so the smartest idea would be to buy a condo and put it up for lease. That way whoever leases it will be paying for your mortgage and build your principal in the house. During that time you can live at home and save up even more money and possibly buy another house. By the time you do need to move out you'll be able to buy a nicer house and not have to live in a relatively small house. People might think your a bum for staying at home and not paying rent but I'm pretty sure your parents wont mind since with all the money you'll save from rent and the profits you can make investing in real estate, you'd be able to return the favor to them in one way or the other.

On a side-note I feel like a lot of asian people live with their parents for a longer amount of time than other people. But in return most asian parents move in with their kids when their older, which is a lot better than living alone or in a retirement home and being pissed off all the time because nobody visits you. It goes the same for kids moving out when they're really young and being pissed that nobody's there to care for them which is why they don't really care for their parents when their older. But this doesn't apply to everyone I'm just stating what I've seen or noticed over the years.

[RL67POLO]

Ya I say stay at home and save as long as you can.. Good parents/cool fair ones are not bad to live with at all.. i say stay home, save up so you can put a downpayment on a house and upgrade to an M6 Its what I did and look at me LOLOL same situation you we're in and I turned out just fine!

RL

[mtla4]

Coming from a self made college drop out........

Bought a condo at 22 kept it for 4 years.....my opinion not worth it. Buy houses that needs some work fix them sell them. Especially in this economy you can make big money. In my condo building I had nosy old farts surrounding me. Never again....You could also buy some rental properties. I sold the condo and did the 2 things that I suggested with the profit that I made. Sell the m3 buy as much property as you can. Buy an other m3 in a few months or year.

I always kick my self the year before I bought my place I could have bought a place for 88 000$, a year after it solf for about 140-145. The reason why I didn't bought the place at the time well I bought a stupid bike and could part out with my RSX-S because it was my dream car at the time. If I would have made that move I could have bought a nicer car the next year and my first place before the prices started skyrocketed....

Listen to me get rid of all the crap, sell everything you have buy a shitbox buy buy buy BUT NO CONDO SINCE you're at the mercy of what other apt sell for in your building. If people are getting rid of them for a song well too bad you'll loose money. Don't get emotionally attached to material. I don't give a crap I'm planning on moving about twice a year for the next 5 years...I won't settle for less I just want more. If the cars have to go because I need capital to buy something that will make me more money I will get rid of them without thinking twice. I got rid of 3 cars last year in a span of 2 weeks. I was driving a rental car then a shitbox. I couldn't pass up on the opportunity.

Rich kids are missing out on something...The struggle is good you tend to appreciate more and be more creative in order to reach your goal or sometimes just reach(money wise). Once success come you can sit down kick back and appreciate. It makes you realise that you can achieve anything afterwards. All my friends are self made some of them started worst then others but at the end of the day nobody was spoonfed we can appreciate an afternoon sitting in somebody's eating a nice T-Bone steak and thinking back about all the memories of what we did to get where we are today.