Young Professionals - Living at home?

DiscoDave

DiscoDave

DiscoDave

Associate
Joined
6 Jun 2005
Posts
1,856
Location
Cambridge
Hi Everyone,

I've seen in a number of threads mentioning people living at home whilst working and I would appreciate some opinions on the subject.

I'm 22 years old, i've just completed a 4 year degree course and currently looking for an IT job. I did have a job nearby but that didn't work out too well (to cut a long story short, what they implied the job would involve and what it actually did were two different things).

I've been looking at jobs locally with a degree of success, but nothing solid yet. I've been given an offer for somewhere else which would require me relocating. After calculating my incomings and outgoings i estimated that i would have £150 a month to myself, which isn't much and if I had something like a car problem, or needed to replace my fridge etc any of which would set me back a long while.

So I'm considering continuing looking for employment at home. It's a bit weird because from returning from Uni i've started to look at my future in a bit more mature manner. Ie i've been thinking about mortgages and the like.

So, I was just wondering if anyone has ever decided to live at home because of something like:

  • Cost of moving out is too high
  • A desire to pay off loan quicker
  • to save up money for a mortgage
  • want to save up in general

Or anything else. Is this a wise decision by me?

Any opinions from people in this situation would be appreciated.

Thanks,

David
 
I see two thoughts.

Move out have freedom and fun
Stay at home and bung everything you can into savings for a house deposit, especially with the housing market at the moment 12 or so months could be an ideal time to buy.


However saying that, there's no way after uni I could have stayed at parents for an extended time.
 
Definately a wise decision. You may not feel you have the freedom, but you will be saving a helluva lot. I'm planning on doing this once I've finished uni for about 4-5 years until I build financial stability
 
AcidHell2 said:
I see two thoughts.

Move out have freedom and fun
Stay at home and bung everything you can into savings for a house deposit, especially with the housing market at the moment 12 or so months could be an ideal time to buy.


However saying that, there's no way after uni I could have stayed at parents for an extended time.
Click to expand...

I agree with your points. However regarding having more freedom and fun, I see that being heavily influenced by the amount of expendable income one gets, which in my situation which wouldn't be much. I probably wouldn't be able to have as much of a social life as I want. I couldn't really randomly decide that I wanted a Download ticket and attend etc.
 
I was going to work remotley doing Linux Administration work. Job sounded great, was offered a decent Salary, but at the end of the day do you really want to work from home all the time?

Work can be a pain in the rear but I like the social aspect of it too :)
 
celliott said:
I was going to work remotley doing Linux Administration work. Job sounded great, was offered a decent Salary, but at the end of the day do you really want to work from home all the time?

Work can be a pain in the rear but I like the social aspect of it too :)
Click to expand...

I think you're slightly miss reading my thread. It's not regarding actually working at home, but living at home and working somewhere within a driving distance away.
 
DiscoDave said:
I agree with your points. However regarding having more freedom and fun, I see that being heavily influenced by the amount of expendable income one gets, which in my situation which wouldn't be much. I probably wouldn't be able to have as much of a social life as I want. I couldn't really randomly decide that I wanted a Download ticket and attend etc.
Click to expand...

All depends how much you get paid if your on 16k+ and live in a shared house you should have enough money for those type of things. Also having a place you can invite friends over, play the wii watch films and drink all night. Is very cheap socialising. But not really possible living at parents.
 
DiscoDave said:
Is this a wise decision by me?
Click to expand...
Definitely. If the job you've been offered in the other location won't pay you enough to be able to live sensibly, then it's much better just to stay at home. There's no point just leaving for the sake of it, and just increasing debt as and when those extra costs (like the fridge example) kick in. You should be able to pay your parents a lowish "rent" so you are at least contributing, save a decent amount, and have some left over for fun. Saving enough for a house deposit will take time, but living at home is a great way to start it off. Give it a year or two and then hopefully you'll either get a pay rise or can get a better paid job - then you will have more of a choice about whether to move out, or just to sit tight and rake it in even more! :)

I lived at home for a bit when I left uni, as I was temping, and when I got a job I moved out. But plenty of the people I'm working with are still living at home, and every so often I envy their extra saving / spending potential!
 
Well I left home (Aberdeen to work in Winchester for my first job) and I had an asbolutely great time away from home.

I moved back home last summer and it has been ok. I much prefered living by myself/with friends though. Very difficult to get back to sharing with your family.

I am now looking to move away again already!!
 
After leaving Uni I got a job which was local to my parents home. I couldn't afford to get my own place so it made sense to stay with them, paying some rent of course, and save to move out later.

Was there for quite a while before moving out (erm 7 years roughly) and it was getting a bit irritating near the end so I was happy when I could get out in the end, but generally it was good staying with them.

I think it really depends on what relationship you have with your parents and how much freedom they will let you have living in their house compared with what you expect. Given the current economy/housing market I don't think there is any stigma from doing it.
 
Cobertizo said:
Definitely. If the job you've been offered in the other location won't pay you enough to be able to live sensibly, then it's much better just to stay at home. There's no point just leaving for the sake of it, and just increasing debt as and when those extra costs (like the fridge example) kick in. You should be able to pay your parents a lowish "rent" so you are at least contributing, save a decent amount, and have some left over for fun. Saving enough for a house deposit will take time, but living at home is a great way to start it off. Give it a year or two and then hopefully you'll either get a pay rise or can get a better paid job - then you will have more of a choice about whether to move out, or just to sit tight and rake it in even more! :)

I lived at home for a bit when I left uni, as I was temping, and when I got a job I moved out. But plenty of the people I'm working with are still living at home, and every so often I envy their extra saving / spending potential!
Click to expand...

Well the offer would allow me to live OK, but money would be very tight. May I ask how long you stayed at home after uni before moving out?
 
memyselfandi said:
After leaving Uni I got a job which was local to my parents home. I couldn't afford to get my own place so it made sense to stay with them, paying some rent of course, and save to move out later.

Was there for quite a while before moving out (erm 7 years roughly) and it was getting a bit irritating near the end so I was happy when I could get out in the end, but generally it was good staying with them.

I think it really depends on what relationship you have with your parents and how much freedom they will let you have living in their house compared with what you expect. Given the current economy/housing market I don't think there is any stigma from doing it.
Click to expand...

Well my parents and I have a briliant relationship. My parents have discussed this with me and said they would support me with whatever decision I make, if its moving out or staying in.

Of course if i chose to stay at home, they would ask for some money for bills etc, which obviously is expected, and would be much lower than having a place of my own. I've been living at home for a couple of months now and I have a lot of freedom. I go out when i please, come back when i please (even if its 3am or whatever), don't have to give excuses for going out, have access to everything in the house (food, phone, tv, dvd's etc).
 
DiscoDave said:
Well the offer would allow me to live OK, but money would be very tight. May I ask how long you stayed at home after uni before moving out?
Click to expand...
It was a year in the end - I was being lazy about applying for "proper" jobs, and the place I was temping at was interesting, so I just carried on... Might have continued at home when I got my new job, if the round trip wouldn't have been in excess of 4 hours a day!

If you've got a great relationship with your family, and it's possible to find something near where you are, I think staying at home is a very sensible option. Sounds like you would still have a decent quality of life, and it lessens the chances that you'll just end up getting into loads of debt early on...
 
Cobertizo said:
It was a year in the end - I was being lazy about applying for "proper" jobs, and the place I was temping at was interesting, so I just carried on... Might have continued at home when I got my new job, if the round trip wouldn't have been in excess of 4 hours a day!

If you've got a great relationship with your family, and it's possible to find something near where you are, I think staying at home is a very sensible option. Sounds like you would still have a decent quality of life, and it lessens the chances that you'll just end up getting into loads of debt early on...
Click to expand...

Aye I think i'll still apply for jobs local to Cambridge. I mean, Cambridgeshire is a big place so I'm sure I'll be able to find something eventually
 
I'm 24, a grad engineer and still living at home. I get to save lots even though commuting an hour every day works out £350 a month. My girlfriend, 2 years younger, also lives at her parents' home. I am not sure when I plan to move out; it will prob depend on job and/or gf, most likely the former. Whilst it's not great from an "entertaining others" point of view, saving lots of money for a house/nicer car makes up a lot for it. I get cooked for, clothes washed and ironed, lunch made, etc. I don't look at it as sponging off my parents, as we work as a unit - one of our cars need washing, I'll do it. Need replacement washing machine, I'll buy it for them as I haven't got many outgoings. And I lived on my own for 4 years at uni doing all the above things myself, so I know I can still be more responsible when the time comes.

If you are happy staying at home, just do it. You can always move out in future.

/edit - in my groups of 5 other friends of the same age, 2 others are still living at home (not that they can't afford it, they all have respectable jobs); it's just that they are still happy to do so. 3 remaining live with their respective girlfriends.
 
Last edited:
I am currently in the same position as yourself. I live at home at the moment but want to move out but I feel like the outgoings will way my incomings. I have to sort values out of why things are going out as much as they are but they are simple things like sky tv, mobile phone, insurence e.t.c. I am in the same boat pal so don't think your alone. Work out ins/outs.
Oh just to clarify my income is 1190 after tax/ni. I still find that I would struggle because of the prices going up. Along with the whole UK I suppose. The big question is do I put money into a ISA and save it all up till the prices settle and then move out or do I move out now. Very hard decision in my eyes. Whatever you choose good luck.
 
optitech-uk said:
I am currently in the same position as yourself. I live at home at the moment but want to move out but I feel like the outgoings will way my incomings. I have to sort values out of why things are going out as much as they are but they are simple things like sky tv, mobile phone, insurence e.t.c. I am in the same boat pal so don't think your alone. Work out ins/outs.
Oh just to clarify my income is 1190 after tax/ni. I still find that I would struggle because of the prices going up. Along with the whole UK I suppose. The big question is do I put money into a ISA and save it all up till the prices settle and then move out or do I move out now. Very hard decision in my eyes. Whatever you choose good luck.
Click to expand...

I see where you're getting at. I also think the location has a huge impact. When I was on my placement year I had a great flat in a good area of Scarborough. That cost me £400 a month.

With the job offer I received, I would have to spend £600 or so to get even a reasonable flat. It's nice to know that there are people in similar positions as me though. I just read somewhere that two thirds of graduates move back home after uni, which is also quite comforting.

The idea of renting is a bit depressing to me. It's just the idea of spending hundreds of pounds a month into something which you don't really own. I'd much prefer to actually be in a position where I own something. Meh, maybe im acting too old for my age >:E
 
Last edited:
I've just finished my undergraduate degree and am going on to do postgrad and therefore am still living at home. Frankly, it suits me well - I come and go as a please, have complete privacy, blah blah blah and currently see no advantage to changing the situation. I'd never have been able to afford to go to Uni had I not done it becuase of the way student finance is obsessed unless your parents are on the dole or something you get so little student loan etc that it costs an absolute fortune.

When I move out will depend on the GF - the idea of moving out and living on my own sounds a bit dull really, so I will wait until both her and myself are established in careers and then see where things go from there.
 
You must log in or register to reply here.
Back
Top Bottom