Possible change?

Thanks disco Dave that's some pretty nice words of encouragement. I'm swaying more and more to the idea at the moment will let you know how things pan out when I have spoken to my folks
 
I currently live with my girlfriend in her parent's house and it's not bad at all. Before that we lived together at my parent's house so we already knew what it would be like with us living together and I get on with the family well enough. They've also said that they will give us all the money back that we've paid in rent when I've finished Uni to put down as a deposit, I can't complain.
 
I might be missing something, but...

Why wouldn't you consider renting? Why the importance placed on saving up for a house deposit? I understand the urge to have a place that belongs to you, but once interest rates rise back to more typical levels you will be paying at least as much in interest on the mortgage as you would do in rent. Anything that you pay off the capital of the mortgage will be additional to this. You could just as easily rent and pay into a savings account as have a mortgage.

I can understand if living with her parents is your only option, in that you can't afford to rent, but living with them just to save up money seems a little odd.

Anyway, my advice would be to find a nice small place; a flat or a small semi, and move in now. If it doesn't work out, then you can always go back to your respective parents. At 23 it is to be expected you won't be earning a massive salary. This will improve as you get older and you progress in your career.
 
Renting in our area is very over priced for rather small and rubbish accommodation. I would rather keep my living costs down as much as possible while saving as much as possible. I don't see any benefit in putting money in someone else's pocket for worse living conditions then what I already have?
 
It's a no brainer but you need to sit down and speak with your Mum & Dad about why you need to move out because they deserve to know.
It either goes one of 2 ways where they realise you are growing up and decide to help or you still may have to move.
It will be stressful moving away from home into a new home without your mates and never really feeling as though you belong but the privacy in the house sounds ideal.
I've got a mate less than 100 yards away who moved in with his In Laws 26 years ago but their house is also divided up and they are still there.

Just for the info my girls are 23 & 21 and we've never asked them for a penny towards the house/bills.
We had them, they were our little toys and just because they are now adults who bring in a wage, it doesn't mean we have to start charging them.
Of course they pay for all their own clothes and most of the time they eat out or get a takeaway.
I don't understand why parents charge their kids.
 
Minxy said:
Why would you rent if you can buy? Why pay someone elses mortgage when you can be paying your own.
Click to expand...

But if the interest you pay on your mortgage is the same as your rent (usually it is higher...), then you're just paying the bank instead of a landlord :confused:

The extra that you would pay off each month from the capital (with a mortgage) could just as easily be put into a savings account each month, and would give you more flexibility than with a mortgage.

Don't get me wrong, I'd like to own my own home one day, but the reason to do so is not "paying money back to yourself". Financially, it does not work out that way. The reason to own is the security and stability of having a place of your own, with no rules / inspections to follow, and no question of a tenancy coming to an end etc.
 
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