Why I Live with My Parents, at Age 25.

2 February 2008 in buying/renting
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Back in November, I wrote about my wanting-to-get-my-own-place situation and how I was looking at apartments, determined to be more independent, ready for this next step. Several of you gave me excellent advice and suggestions that really encouraged me in this direction.

I scrolled through Craigslist every day or so, comparing what was out there. I even scheduled another viewing in December, which unfortunately the contact person bailed on. I’ve been looking, really. And I’ve been thinking about it.

A lot.

After getting advice from dozens or more people, here’s what I’ve decided:

It makes more sense for me to stay home right now.
This isn’t because I’m scared or immature or something related. I’ve just stared at the cold, hard facts:

(1) I work 12 miles from my parents’ house. Most days (winter blizzards not considered), it takes me under 30 minutes to commute. Wherever I would end up moving in my price range, I’d be the same distance or farther, meaning less time and more money wasted.

(2) Also, my parents have plenty of space. They’ve given me my own suite, really–I am not down the hall or right next to them. They give me independence and are happy to have me staying with them. As a benefit to them, it makes my working for my Dad’s company much easier, since I usually do so on weekends/evenings.

3) Financially, I will be able to reach my down-payment goal much, much faster by living at home.

(4) This option gives me the most flexibility and freedom.

I know what people say about boomerang children. I know it seems terrible to inconvenience one’s parents, and in some cases it is. But really, my parents love having me. I love living with them. Just because I live here at 25 doesn’t mean I will live here forever. This is for now.

I’ve also decided that I will be sensitive to a need to change at any point: If my parents feel differently, I will take the hint right away. If at any point I need to move out because of a job transfer or something else, I can.

Last, to help myself gain the financial responsibility everyone says you learn from renting/owning, I am budgeting a chunk of money each money towards rent. On top of my regular monthly savings, I’m temporarily adding this extra sum to my down-payment fund each pay period. I figure when I do move out, the real estate market will have improved and I’ll be able to afford something I really like.

Excepting the cost of housing (and the auto insurance policy Dad won’t take me off of), I am completely financially independent, so this works for me. I think I will start paying him for the insurance, though.

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9 Replies

  1. Jessica

    2 February 2008 at 2:16 pm

    I moved out at 19 but not because I ‘had” to but because I wanted to. There is no shame if you’re still living at home, it’s free! :)

    Reply
  2. karen

    2 February 2008 at 8:47 pm

    If your father still doesn’t accept money for insurance, you could open account and save that money to give back to them at a later date. Or use it to pay for something for the upkeep of your home e.g. new windows, outdoor lighting, new garage door opener etc.

    Does not having your own insurance hurt you in anyway? Would it make your premiums higher since you have no history of your own? Kind of like having no credit?

    Reply
  3. GG

    2 February 2008 at 11:23 pm

    Karen, I do have insurance–I’m a listed insured on the policy. When (If) I set up my own personal policy, I will have had a solid history of insurance since I got a license.

    Just like if a couple share a policy. They’re both insured.

    I’ve thought about saving money for them, maybe like for a trip or something? They’re very financially set, so it’s not likely to be a big thing to them, but maybe the thought would count. :) Thanks for the encouragement that way.

    Reply
  4. karen

    3 February 2008 at 6:08 pm

    Sorry, I understood you were covered but I was equating it to like when you’re 16 and had to be on your parents’ insurance. Anywho, glad that you have history for later.

    Actually, my original thought was a trip for your parents but that wasn’t very PF! I love to travel so that is always my initial reaction! :)

    Reply
  5. English Major

    4 February 2008 at 10:47 am

    Do what works for you, I say. My parents would be happy to have me, too, but I’d go insane. The “suite” option is probably better for the sanity than my “living in the room you grew up in” option would be.

    Reply
  6. Veronica

    22 May 2008 at 10:23 pm

    I moved back in with my folks after my divorce. They say as long as I’m stashing my money away to buy my own place, there fine with me living with them. I didn’t think I would be able to handle it, bit I’ve been here almost 2 years and its been ok. In fact, several situations have come up where it was a blessing that we were together. I think as long as you’re not. Taking advantage of the situation, there nothing wrong with loving with your parents. P. S. Don’t throw your money away on rent.

    Reply
  7. charlie

    23 February 2009 at 6:39 am

    I’m 26, about to turn 27 in a couple of months.

    I also live with my parents and quite honestly they love me being around the house (and they don’t charge me for rent). I am employed, and I pay for my own groceries, insurance, car payment, etc. etc.

    I help them with the yard work and anything that involves physical labor. My dad is getting older and I notice he can’t do everything like he use to.

    After looking at how my dad reacted to my grandfather’s death….I realized my parents mean a lot to me, they are good people. And when I show up to their funeral…I want to tell myself I tried to spend time with them, I do not want to have any regrets thinking I should have been more involved in their life.

    Besides all of my friends are married with kids – LOL – I do not miss a damn thing they are going through. But in time, I must face the music and raise a family of my own, and I only hope my kids will enjoy my company (and heck – if they want, they too can live with me as long as they want).

    Reply
  8. Bob popkins

    27 March 2009 at 9:56 pm

    In today’s economy people are sleeping under bridges. If you are lucky enough to have parents that will let you stay with them during these times, then do what is best for you. Just remember no one has walked in your shoes, let them think they are better off. More than likely they will be moving back to their parents soon :) .

    Reply
  1. 1 On the Thing That Has Nothing to Do with Money at This Writer’s Wallet Pingback on May 11th, 2008 at 4:48 pm

    [...] not where I thought I would be by now. And I don’t even mean the living-at-home thing or the working-in-my-industry thing. I’m just, [...]


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