Move out or stay at family home?
Incoming FT IB analyst next summer. I'm stuck between wanting to move out of my family home and staying with parents for the first few years. Would love to hear your experiences/advice if you've been in a similar situation. Need to know whether it's worth house hunting
Pros of being at home
- + savings towards a house
- better food?
- less additional stress for an already demanding job
- can walk to office so no travel costs/easy to get back
Pros of moving out
- less stress (like having my own space). Thinking this can be useful in terms of 'clocking out' after a long day
- independence
- bringing girls back (lol)/having friends around (rona -_-)
Cons of moving out
- more housework
- fuck tonne of rent
- probably will be further from the office than childhood home
- get bored being alone/emotional stress? (if no housemates)
I'm leaning towards staying at home for a year or two whilst saving for a deposit on a house but I would like to hear other thoughts!
I stayed as a Ft analyst. I’ve already saved more than I estimated I would before rona and I think having the assets would be great for long-term wealth. (Save even an extra $20k would mean $1600 every year for the rest of your life).
It is a personal decision. My choice (and what I did when graduating college) was to move out.
I have a good relationship with my parents, but I enjoyed the independence I had in college and wanted that (with an actual income) when graduating.
Mostly, I wanted to figure out life and be able to have a life separate from my parents. I would feel very uncomfortable at home, probably very different right now with covid, but going out when I want, spending time and money as I see fit, inviting people over, all of that sounds like a pain when living with family.
Appreciate the reply.
I too enjoy the independence of having my own space. My concerns generally stem from the financial elements of renting, but in hindsight, losing a few thousand pounds a year on rent is probably not worth risking having an uncomfortable and limited (as you put it) life experience caused by living at home. I think it's more so important now given the current climate in that I would want to have a strong start to my career, and as such, should probably take steps to maximise the chances of doing so. The financial loss may delay the purchase of my own home by a year or two but that's minuscule when compared to a 40+ year career.
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