Time to Move out of Parents Home?

Lstevensx on 27/09/2015 - 16:24
Last edited 30/09/2015 - 00:52 by 1 other user

Am finishing my business degree at the end of this year (hopefully I pass my end of semester exams). Next step will be applying to jobs through sites such as Seek until a full time job is found.

Was wondering when you guys think the best time to move out is, and what ages you all moved out?

Notes:
Good relationship with parents at home.
Out of uni there's little chance I will earn much more than $40K a year so I'll plan around that as my salary.
Would prefer to avoid renting and throwing money away if I can.
Once working full time will pay parents $100 p/week.

EDIT: People have been slightly critical of the $100 p/week rent. Honestly my parents have asked for nothing and enjoy my company and the fact that I do things around the house that they are unfortunately unable to physically (such as mowing lawn etc). I would be paying for my fair share like groceries and bills on top of the $100. The $100 figure came from the fact that I have many friends who rent and a typical rental house in my area is $300 a week (they rent with two other people so it's $100 each, hence my rough estimate).

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    stevensx on 02/10/2015 - 17:45

    Savings at all costs!

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  banzini on 02/10/2015 - 14:04

  +1

  lets all clean up others mess, have randoms coming over you don't know, go to sleep for work and have people partying or staying up and then fight over dishes.
  been there, done that and it's a joke.

  :D

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  oscall on 03/10/2015 - 00:03

  My advice is to stay with your parents if the relationship is good. In this way it will allow you to save more money to invest in a property. I was in the same situation as you when I finished my university degree and my parents was kind enough to give me some deposit to invest in a property. I rented it out and the tenant paid off my mortgage. when i finally got married, than I moved into the property. By staying with your parents it will allow you time to save for a deposit on a house which you will find it hard to do if you are paying dead rent. okay you may sacrifice your freedom but I bet your mum cooks better, washes your clothes, clean your bedroom and helps you a lot more than you can imagine.
  I know have 2 kids and I will do the same with them. My daughter who is 17 years says, why would she move out from a loving family.

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    stevensx on 03/10/2015 - 10:56

    Yeah all this is true, and I get pretty much unlimited freedom haha so I can't really complain.

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  CactusReloaded on 03/10/2015 - 13:51

  +1

  I'm 22 (almost 23) and still live at home. I've been working full time for the past 14 months post-study on $40k per year (job not related to degree). Only started saving this year after I realized I wasted most of my money earned from August 2014 through to December 2014 on "stuff I probably didn't need". By the end of the year I'll have $15k saved (should be more but had "unforeseen" expenses that came up). We rent and my mother is a single parent and I have a younger brother (18, studying full time). I pay 1/3 of all house hold expenses (my share of rent+groceries is $180 per week) also 1/3 of other bills (electricity, water etc), and I pay the monthly internet bill ($90). We alternate who cooks and who cleans the house. I also own my own car. Living at home allows me to save while also taking the financial burden off my mother and I'm more than happy to continue to do so, especially while my brother is completing his degree so he doesn't have to worry about helping out much financially. You don't need to move out to find a sense of independence.

  I'm also torn between saving for a deposit for a house and going travelling/experiencing the world.

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    stevensx on 03/10/2015 - 15:27

    Really mature what you're doing, so kudos to you. I agree with everything you've said.

    As for the house or travel thing, I'm much more inclined to get a house and travel when I'm a lot older. I was extremely fortunate to go on an around-the-world trip when I was 13 with my family. Young, but still old enough that I remember and could at least somewhat appreciate what I was experiencing, so maybe that plays a part in why my thirst for travel is not as much as others. Really grateful that I could do it and one the best experiences of my life.

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  pebee47 on 18/06/2016 - 19:48

  I know this thread is old, but for what its worth I'm just turning the last corner of the full circle.
  Kids grown up, single (again), about to sell a place I own in Darwin to clear funds for a house in Perth (yes I did the "hard yards" for quite a few years to buy it at the time.
  I can afford a 4-5 bed house, so means I can comfortably take 2-3 house sharers (technically "boarders" as I'll also be living there). Looking at Uni students, as at this stage I don't need the rent so will prob have Summers to myself. Should allow me to pay an extra $200-400 /week off the loan.
  I realise it wouldn't be an option for someone just out of school (so to speak), but putting it out there as an eventual possibility, if slightly alternative way of getting your own place.
  Another point: If you don't want to share the first place you buy, go as small/inexpensive as possible in a good rental area (beach/city/uni catchment). Can always easily rent out or sell to move up later.

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