patrick.net

What have you been doing for the last decade? I know you want to save but it can be done without being a burden to your own parents. It's smart in a moochy kinda way...

thomas.wong1986 says

seaside says

You're blessed if you can live with your parents.

A simple alternative is to live in a house sharing situation with others in the same boat. Thats how I did it back in the day.

Many benefits... start networking for your career, easy dates, and low housing bills. Downside... house mates may not be that mature. But it all works out as you save and keep a focus for the long term goals.

that's a good idea but I would buy the house rent out rooms and live for free.

clambo says

You are smart. The problem is women will try to convince you into buying the "nest" for your future happy family. I would suggest you sock away a chunk of change in a Roth IRA asap and then save for the down payment.

I agree.

debtregret says

Good plan. Multi-generational households have fallen out of favor in usa, but there is much to recommend them.

That's what McMansions are for (or will mostly be used for in the future).

APOCALYPSEFUCK is Tony Manero says

How can parents deal with the ear-shattering sound and house-rattling impact of young people pestorking? Are young adults today supposed to be celibate? Find roofs of abandoned warehouses in dying industrial zones to have sex?

Really depends upon who your parents are. Mine wouldn't have cared if I brought women over and they screamed their head off while was banging them.

Wacking Hut says

Beat the banks by moving in with mom and dad

The problem with this wonderful strategy is sometimes Mom and Dad do not want you to move in. While they are willing to help you out if you fall on hard times (ie lose your job), but sponging off them because your too cheap to rent your own place wouldn't sit well with some parents. While you ultimate goal is save up enough to buy a house in cash (or a sizable down payment) I'm not sure all parents are willing to put up with you for years while you save.

bob2356 says

really smart one's will stay with the parents until baby boomer grandparents kick the bucket then take their house.

The Really Really smart ones help the parents along. Doctor at hospital, "Sorry to tell you this but the 3 flights of stairs you Mom fell down killed her. And so soon after the passing of your father who electrocuted himself trying to toast bread while in the bathtub."

Wacking Hut says

My boomer parents are pretty healthy so waiting for them to kick the bucket is impractical.

That's why they need your help to get to Heaven.

Future Cash Buyer says

lol my parents charge me market rent, food and utilities if I live with them. I might as well move out.

My cousin's Mom kept raising his rent until he decided it would be cheaper to live elsewhere. I guess that's the gentle way (and profitable) of getting your kids to leave home.

If you are in your late 20s and haven't saved up for a 20% down-payment yet, you should look at your spending habits. Unless you have been in school for a while (getting a PhD or something), you probably should have saved that amount already.

clambo says

You are smart. The problem is women will try to convince you into buying the "nest" for your future happy family. I would suggest you sock away a chunk of change in a Roth IRA asap and then save for the down payment.

Only if he goes for a dumb woman, but if she has a nice body, men usually do. A smart woman who wanted a family with him would seek a reasonably priced home with enough room (a one bedroom isn't good if you both want two kids) , but not fall prey to all the stuff that goes with it. School districts are not worth debt slavery, when there are online schools that are free or very cheap, yet provide a good quality education. So long as a car is safe and suits it's utilitary function, it's best to get the least expensive, regardless of what the broke neighbors think. Learning to do basic maintenance (both of them) is a must; professionals handipersons are for cracked ceptic tanks, not clogged toilets. The female desire to have a nest and raise a family is not the problem; it's the imaginary lifestyle that goes with it that bankrupts.

Don't even think about worrying what others think about what your doing, your parents know they can kick you out anytime, they know it's temporary, and they also know things are not getting any easier for the younger generation. Be glad you've got the option and make the most of it.