Waiting to own a house versus renting an apartment?

I’d move out too. Just try to stick it out until you get a decent paycheck. Also, if you choose to share the place with your friend, you need to be able to pay the rent for a month or so if things don’t work out with them. Should that happen, here’s a link for new roommates. http://roommates.com/

Regardless of how good friends you are, get a written agreement about your expectations (paying utilities, who cleans what when, privacy, etc.) It can save a friendship.

When you move out, you’ll also need furniture. My guess is your folks won’t tolerate you taking your bed and dresser, even if they’re in your room, unless you specifically paid for them yourself. So plan for that possibility as well. Will your friend have their own furniture?

See here’s the thing about me and roommates though.

I don’t trust living with people I don’t know. I know tons of people do it, and do it safely, but it’s not something that I’m comfortable with.

I do agree about having a written agreement though; business is business. She said she does have her own furniture, and I do as well. A few things will need to be bought but I already have (or will be able to have) the essentials by the time I would need them. I would like to make this transition by January 2015. However, the whole “I need to get a house” situation is weighing on me.

Another factor is that my boyfriend graduates soon as well. Our parents are vehemently against us living together until we are married; but marriage is in our future and we have been dating for 5 years. He’s already gotten job offers ($70K plus…...engineer lucky butt) and ideally we’d be able to afford a place together. However, with our parents basically saying they’ll disown us if we live together before a ring is on my finger, that’s something to think about. Which sucks in itself because I’d rather live with him and I feel like we’ll just end up staying over at each other’s place anyway…...

I agree with @snowberry – I’d leave home as soon as you have a stable income; when you’re sure that you can meet your commitment to pay rent for the following year. I would definitely not buy a house at this stage. That represents a lot of risk – what if you lose your job or get sick?

Also, having your first experience (and perhaps second and third) of setting up your household, getting the furnishings you want, figuring out where you want to live, etc. is stuff you should do long before you tie yourself to a house. You simply don’t yet have the experience that you need to make the right investment for you. Give yourself time to figure out what you want, and make sure that you can afford what you want, before leaping in.

Also, consider renting a cheaper place, even a studio apartment. If it doesn’t work out with your friend, you’ll be super stuck for the duration of your lease if you’re not willing to make a try for another roomie. If you fail to meet your rent, you’ll be back at Mom and Dad’s, something I doubt you’d like.

@snowberry oh believe me, I tried lol. I’d prefer to live alone, but here in Atlanta, single bedroom apartments are like $1200 a month. This was the only place I could find under $1000 for even one person.

@cutiepi92 I’m not saying don’t do it, but I suggest you think this through carefully. You don’t want to go from difficult situation to another.

At 22, you’re entitled to your privacy. Even if you’re living at home. Unfortunately, if you’ve never moved out in some ways your family haven’t transitioned into seeing you as an adult yet. So I do think moving out and being independent is a good plan. Do you have a good friend you could share with? Keeping in mind, living with someone can be bad for friendships. Regardless, I’d start looking for places to rent so you have a good sense of what it’s going to cost you for something reasonable. Not just from the costs on paper, but go and look at places for rent so you can see what the description translates to in real terms.

I’d also suggest working out how much you’re going to need to have in the bank each month to survive financially. Start putting it away (or as close to until you get your pay rise). Be ruthless about your budget and over-inflate costs rather than underestimating them. Build in some money to buy new clothes or go out with your friends and do the fun things in life. You have to be realistic. If you can’t put that amount away each month, you’re not going to be able to afford to move out.

I wouldn’t even think about buying right now. Get used to living alone and managing a budget. However, the downside to renting is you may not have much left to save for a deposit should you ever choose to buy a house/apartment. When you do reach that point, you may need to move home to allow you to save up. My house appears to have a revolving door with children leaving home and then coming back for a few months. Doesn’t bother me at all and I think it’s fairly common.

Normally I’d agree with your parents. Free rent is a pretty sweet deal. Given your circumstances, and the fact that you could rent a place for only $300, it sounds like the way to go.

Don’t buy a house unless you’re planning on living there for a while. You’ll loose a lot of money on real estate commissions and closing costs if you only live there for a few years. Renting it out is tough to do if you’re living far away, and will likely be a ball-and-chain you don’t need in your life.

My opinion is save up so you have a cushion and move out. Living with a roommate sounds good to me, and is what almost all of my friends did in their early 20’s if they were not already in a romantic relationship where they lived with their SO. Rent is not necessarily throwing out money. You are very young and renting can give a lot of freedom and less worry. Make sure you will still be able to save. Write out a budget and analyze how much money is coming in and going out. Remember you have to pay taxes, and account for some unexpected expenses.

One thing I will mention is the rent sounds very low, so just make sure you are in a relatively safe neighborhood.

You mention being salaried, I am not sure why salary vs. a wage matters? What matters is how much money you are making.

I agree buying a house is a big commitment and a lot of work for someone your age and in your situation.

I don’t understand your saying your grandparents will not allow you to move out. They can control what you do when you are living in their house, as it is their house, as you know, but they cannot hold you hostage.

The main thing with any apartment you choose, in addition to the most important aspect which is that you have to be able to afford it, is that it’s safe. Safe neighborhood, safe building. If you don’t have personal safety, you have nothing. Furniture and everything else can come with people giving you things or you buying things new or used.

In the meantime, while you are working and saving, when you see your things moved around in your room, try asking your grandmother why she was in your room and what she was looking for. Not to be nasty, but just to open up the discussion and show her that you are aware she’s snooping around.

Are you the same OP that asked about staying over your boyfriend’s house a while back? Are you still dating him? It sounds like not much has changed where you live, I’m surprised you have stuck it out this long.

@JLeslie: I didn’t check but I think this is the same OP. The details ring a bell.

“I work in the city and found an apartment 10 minutes from my job where if I roomed with my best friend, I would be paying only $300 a month.”

OMG, do that! For rent in the city, $300 is about as close to nothing as you can get. I don’t know how much you earn, but if you live carefully you should still be able to save. Most people move out first and start saving for a house later in adulthood.

The no privacy thing would kill me.

@cutiepi92: I’m sure many Jellies on here have extra stuff they’d be happy to send you to get a start.

So, get an apartment already.

Owning a home is not now – and may not be for several years – the expected gold mine that it once was. If you find an apartment that suits you at a price that you can afford then I suggest that you take it and move in, if only as a way to say that you’re living your own life now.

I didn’t buy my first house until I was nearly 40, although I had owned mobile homes prior to that, but I’m discounting them.

If you were 28 and asking this I’d say suck it up, save up, and then buy a house. Since you’re only 22, I would say your best bet is to find a cheap apartment with a roommate (if that is more affordable). You have years to think about buying a house. What you want now is likely going to change. You might not want to even live in the same city or state in a few years. With an apartment you’ll have the freedom to change your mind as much as your heart desires.

Is renting a waste of money? Depends on how much your rent is. If you’re living above your means and putting your whole check into having a roof over your head, it’s wasteful. Find a safe neighborhood but forget about the luxuries for now. I can’t tell you how many times I paid way too much for an apartment just because I liked the extra space or it had a nice view. I ended up not being to save a dime and many times struggled to buy food or pay other bills. It was a total waste of money.

It sounds like the main goal is to get out of your parent’s house. I don’t blame you in this case. You’re 22. You should be able to have some sort of privacy. You should also be free to make your own decisions with whether or not to stay over at a boyfriend’s house for a night. So save up some money for a nice nest egg and start apartment hunting again. Just remember, keep it simple. If you don’t want roommates, get a studio. Those are cheapest.