Situation
I spent half of my college years living near school in an apartment and then a townhouse. In my third and fourth year of college, I moved back home to save money. For me, classes, internships/work, and club activities kept me out of my place for most of the day. Essentially the only time I was at the townhouse was basically to sleep. I would wake up at 6:30am to go to the gym, then work, and finally to school at around 5:00pm and end up going at 12:00am after my extracurricular activities. Some days it would be just the reverse, I’d have class in the morning and then work at night. Occasionally I’d have a dinner or lunch date and every week my friends and I would kick it somewhere. Since I’m considered relatively “local” to my university, it makes little sense financially to continue paying someone else’s rent. Still, the reason I spent my first two years near school was to be closer to colleagues and friends. For a good part of college, it helped maintain my social life and that’s something I was/am willing to pay for. In a couple weeks, I will be beginning work at an accounting firm. Entering the working world is a different transition. Is it now time to start saving money for a down payment by moving out?
Factors
There are four major factors I consider when deciding to move out of the ‘rent’s house.
Freedom
Though my relationship with my parents is rock solid, it would be difficult to have friends over after a certain time. Instead of having that voice in your head, that voice is coming from downstairs. Having my own place would mean I would be completely unrestricted and unshackled. Still, if I come home late, I don’t have to explain myself and haven’t had to for the last two years. What is another couple years?
Convenience
I am about thirty minutes to an hour away from my central workplace without/with traffic. Should I end up staying late at the office or there be a spontaneous outing, I will know I am just minutes away from my place to get ready. But, is a less than an hour’s commute unbearable?
Financial
Probably ranked top two out of the four factors, I have listed here. Though I don’t have any major credit card debt, I am still far from a down payment or any kind of serious financial stability. Money that I spend on rent and food can be better spent on nice clothes, vacations, or even my nightlife empire. A 26-year old male investment banker lives with his mother. Though he can just as easily afford a place of his own, he instead used the money he saved from rent to open a tapas restaurant. It would be difficult to pay rent and pull something of that nature. Paying someone else’s mortgage suddenly seems like not the greatest idea.
Masculine Appearance
It is a cultural norm that Americans tend to frown upon men living with their ‘rents past age 20. However, in recent years there has been a 6% increase in young adults between the ages 18 and 34 living with the ‘rents. I believe there is a difference between living at home unemployed without goals and one who lives there to save money and actively moving ahead. Even if the above is not true, if a girl is only interested in where you live, is she that much of a catch? If I really wanted to rough out it on my own, I should just shoulder more weight with chores around the house.
Decision Made
Ultimately, the choice was a financial one. I’ve decided to move back home. My reasoning includes: "If a girl is only interested in where I live then she is not that much of a catch". I can save money for two years and be able to put a down payment on a house; what is another two years? I am more than willing to drive within an hour and a half’s radius around my ‘rents place to meet up with people.
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