Live at home or get an apartment after undergrad?

tranche's picture
Rank: Monkey | 36

Hey guys,
I am graduating from undergrad in May and am trying to decide whether to live at home with my parents and commute ~40/45 minutes into work or get an apartment in the city. Socially living at home would suck, but I would have little to no expenses and would be able to start building my nest egg right out of school. Have any of you faced this decision? Do you think giving up some of my twenties is worth jumpstarting my savings?
TIA

Comments (30)

Feb 3, 2020

I lived at home for two years after undergrad. My parents were super chill and it didn't really hinder my social life since they lived in the part of town I'd have gotten an apartment anyways. Was able to save a ton of money while maxing out 401k, Roth IRA, and HSA accounts. Great way to build your nest. Just have to make sure you and your parents get along well and are on the same page.

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Feb 3, 2020

Moving out may not be the most financially prudent thing to do, but it is both the correct thing to do socially and morally, in my opinion.

I know that living at home is becoming more common, and has always been somewhat common in certain cultures - which I am sensitive to - but personally, getting laid, taking responsibility for my own life, and not mooching off my parents were all priorities.

In my view, you're not really an adult if you're not managing your own life alongside your career. Does that matter more than an extra $10k-$20k in your 401(k)? That's for you to decide, but personally, some things matter more than money.

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Feb 3, 2020

Look if we take the FV of $20,000, with a $20,000 annual deposit, earning 20% a year, over 10 years, we're looking at $643,000...........choose wisely

EDIT: Much respect for your typical advice, however in this case broooooo

You're in RE, I'm in HF. We are not the same. MarketNeutral

thots and prayers

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Most Helpful
Feb 4, 2020

You aren't earning 20% a year

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Feb 4, 2020

show me something that gets 20% a year for 10 years from these valuation levels and I'll hire you today

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Feb 4, 2020

lolol
https://media2.giphy.com/media/oOX5qIDkzDjeo/giphy.gif

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Feb 3, 2020

If you live with your parents after graduation, I'm going to assume you don't go out much and definitely don't get laid.

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Feb 4, 2020
AnOlympianGod:

If you live with your parents after graduation, I'm going to assume you don't go out much and definitely don't get laid.

I did for two years, and got laid a lot...You just have to hope the other guy has an apartment (who cares about roommates?) Do you know how difficult it is to have sex in a Miata?

Feb 3, 2020

i lived at home for 2 years after college...save up that money so that when you do move to the city you are not living like a starving artist. 40 minute commute is nothing

Feb 3, 2020

NM.

Feb 3, 2020

get the apartment - get roommates if needed

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Feb 3, 2020

Why not just live with your parents? If you dislike that situation, just get an apartment. Keep how much you can save money in mind. Having an apartment was the best time of my life. No one but just me. :)

"It's okay, I'll see you on the other side"

Feb 4, 2020

I'm 25 working FT and live at home. My advice is you should take action after work going to events, intramural sports, dating and etc. to make sure you are living at life out of work. It is completely possible while saving a lot of $$.

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Feb 4, 2020

A buddy of mine stayed at home for ~4 years after college and just bought a sick townhouse in the city. I'm sure much of the down payment came from saving upwards of ~$70,000 on rent. The townhouse is in an up and coming area so I'm betting he'll bank if he flips it in ~5 years. Do what you want with that information.

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Feb 4, 2020

I just started working FT and have been living at home. Shooting to stay there a max 6 months to save as much as possible before moving out. I do think it's important to at least look for a new place to show the rents you aren't planning on staying forever. If it's a viable option and you have a good relationship with your parents you should do it. It keeps the expenses low as you mentioned and you can bank most of your first few checks. Socially it's had little to no impact (granted I don't live in a big city like NYC)

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Feb 4, 2020

Move out, you learn a lot by living on your own and taking care of yourself. Fuck random roommates tho, only do roommates with people you know really well

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Feb 4, 2020

I did it for a year and it was great. I saved a ton of money despite not making much.

People overestimate the social impact. Most social life is outside the house, and even if you get your own place, is it really going to be nice enough / big enough for you to host parties and have people over often? Anyone who shit talks you for living at home for one year after college is most likely insecure.

Dating is a different problem but I just went to hers or got the occasional hotel (still way cheaper than rent)

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Feb 4, 2020

Took the stay-at-home route but had basement suite to myself, so had freedom. Few months ago, bought a condo in a very HCOL city (rare at my age w/o help from parents). Will rent for 1 yr then decide to properly move out and/or go abroad for school/work.

I'd say it depends on your relationship w/ your parents.

Feb 4, 2020

I recently moved out of my parents house to get my own apartment. 6 minute commute to the office vs 30 minutes.

It's cool to bring a girl over and not have to introduce her to your mom for no reason. I do miss my mom's cooking, though.

My opinion: there is nothing wrong with staying at your parents' while building your nest, but living life as a bachelor is the more fulfilling path.

I am getting more utility out of my decision to move out but it's up to you at EOD

Feb 4, 2020

I was in the exact situation as you when I graduated last year, I decided to stay at home for my first year to build a pillow before moving out and living with friends. Depending where you are, living at home could save you a ton. For me the average rent for all my friends is ~$1,100/month. That means that each month I'm at home I am pocketing that. The largest downside, which has been pointed out, is it's socially harder. My solution is just making an effort to go out and see my friends. On the weekends I'll usually go out with my friends and just crash on a couch.

You can always stay at home for a bit and if you really don't enjoy it you can just move out. It would be better to start that way then to get a lease and be stuck for a year.

Love, abigreguy

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Feb 4, 2020

For what you lose socially by not having the capacity to invite people over, you gain by getting extra lit and having the cash to rent a hotel or take a ridiculous Uber home which other people consider insane while still saving a ton.

As long as parents are cool with the lifestyle, I don't see a problem.

Feb 4, 2020

Great idea to try to stay at home and save. See how you like it, if the travel is too exhausting with long hours, etc. or missing out socially. Trains run very late if you want to stay out after hours, and if you're saving $$, a weekly $50 Uber home at 2 am won't hurt you. You may have friends you could crash at in NYC on a Saturday night. What's your worst case scenario? You move into the city! Within 1 month you could find a place.
Does not hurt to try saving some $$, eat home cooking, bring lunch, and do laundry easily/free.

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Feb 4, 2020
tranche:

Socially living at home would suck

For you it would suck, most likely. For your parents, it would suck for sure. How can they screw when you are there ready to listen to them at all times? Kind of awkward if you ask me. Move the fuck out so your parents can finally get their fuck on after raising you for two decades. You owe them that you ungrateful twat.

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Feb 6, 2020
Comment

"I'm going to make him an offer he can't refuse."