Personal Finance on Yik Yak | Parents want to charge me $1,000 monthly to live with them. I pay $685 monthly now with them. Rent market is about $2,600-$4,000 -in mid 20s -make about 112k -no debt -net worth north of 150k What would you do?

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Personal Finance 5d

Parents want to charge me $1,000 monthly to live with them. I pay $685 monthly now with them. Rent market is about $2,600-$4,000 -in mid 20s -make about 112k -no debt -net worth north of 150k What would you do?

#poll

move out

keep living there there

102 votes

Anonymous 4d

If they don’t nag and you can do whatever you want it sounds like a win win situation for now. When you start paying 2600+ and living expenses you will just watch your money evaporate. You could also see it as helping out your parents a little bit. However, if they do nag at you just get the fuck out

Anonymous 5d

not trying to sound ungrateful, and I also understand I may be older than most users I’m grateful. im just not sure how to process this and I’d rather comment anonymously what others think

Anonymous 4d

If rent really is as high as you say, stay ffs. I have a horrible relationship with my dad and I’d take living with him in a heart beat if it saved me $1500 a month. Unless it’s really negatively impacting your life, you are on track to own a home much faster living with them.

Anonymous 4d

Depends on if meals are included tbh

Anonymous 4d

Dawg if ur making that much and have a net worth, move out, put a down payment on a house and it’s legit 1k more than what they would be charging u for ur own place

Anonymous 1d

Your parents are increasing your rent by $315, so that basically just covers your meals now. Cause if you lived on your own, spending 300-400/month on food is reasonable. Stick it out with your family as long as you’re willing to

Anonymous

#2 4d

It is

Anonymous

OP 4d

if you get along with your parents these are some of the best years to talk to them.

Anonymous

#3 4d

Ok dawg

Anonymous

#4 4d

That’s $18,000+ a year in rent alone. 3-4 years you’ll be able to buy a nice house with a huge downpayment. Your parents will have a huge chunk of their mortgage paid off and if you think about it, 20-30 years later that money might make its rounds back to you in the form of an inheritance. Way better than giving your rent money to some random who will never give you a dime back

Anonymous

#4 4d

Thank you

Anonymous

#4 4d

Wanted to really thank you, everything you said was really well said, apart from the inheritance as they don’t own the house we stay in. But I do like what you said “3-4 years you’ll be able to buy a nice house with a huge down payment” + “better than giving your rent money to some random” + “you are on track to own a home much faster than living with them”

Anonymous

#3 4d

Houses in my area would be higher than your expected $2,000 monthly bill. Somewhere between $3,300 - $4,000 is what I estimate without even really looking into any numbers

Anonymous

#1 4d

We do get along. We have good relationship

Anonymous

OP 3d

Unable to relocated to a cheaper area yet still be nearby? I had that issue before tbh - but definitely hoping for u. If you haven’t owned a house before could always try to get a FHA loan, 10% or less down for a house and for me it was pretty average rent price but for a house.

Anonymous

OP 3d

Yea if I didn’t move in with my gf I probably would’ve done the same. My half of the rent is cheap though at about $750 a month + utilities. Living with parents is so much cheaper and you get to spend a few more years close to them before you go out on your own. Moved back for a semester of college to work an internship and I was able to save so much on food. That money has doubled since

Anonymous

#5 1d

However you’re in a great financial position to move out if you really wanted to. I’d suggest living with roommates though. Like I’m by chicago and 2.6-4k would get you a high end 1 bed 1 bath apartment. But you could easily split a place around here with roommates for under 1500 each