patrick.net

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.