Moving out at 30 (Rent or Buy? or Don't?)

LThrowAway90210 on 01/05/2019 - 22:26

Hello OzBargain,

So here's the deal:

  • I'm 30 years of age
  • Single at the moment (last relationship ended a year ago)
  • Living with my mother (I contribute and help out as much as I can)
  • Never moved out or lived with anyone other than family
  • Working at a steady job (though boring and unfulfilling) that I've held for the last 5 years
  • Have a decent amount saved (enough to pay a year's rent without working)
  • Other than a car, don't really have any "assets" to my name
  • I do suffer from anxiety-related disorders and panic attacks (I have seen psychiatrists & psychologists)
  • Otherwise I'm quite physically healthy
  • Not very social and don't have many regular friends or hobbies
  • I'm not on any medication (and haven't been)

I'm reaching that point in my life where I feel I just need to do something different and I keep coming back to the idea of moving out and living on my own.

I would be renting, as buying is not possible at the moment (and I'm not sure I want to commit myself to paying off a huge amount of debt for the next 30 years or more).

Now, believe it or not, my mum says this is a crazy idea and I would be stupid to consider blowing money renting and that I should live with her and save up for as long as it takes to put a deposit down on a house. It seems people who are middle-aged immediately decry renting as being a waste of money when I present them this scenario.

Most people my age that I speak to about it, say that I should move out and experience being independent, self-reliant and to have the freedom to develop as a person and not forever live in the shadow of someone else.

Financially, I don't know that I am really that concerned with the money side of things, because I never really aspired to own property any time soon and given the inaffordability of housing in Australia, that goal always seemed really distant and really only something I would consider if I was starting a family.

My main motivation would be to develop the confidence of running a household on my own terms and juggling all of the usual responsibilities adults my age have, but without the giant risk of buying a property and all that it entails. At least with renting, it's fairly easy to walk away from, minus some small monetary loss.

I'm sure most of you moved out well before 30, so this story will sound odd, and I agree I've always been late to the party in accomplishing those major milestones in life, but is it really better off to stay with my mum and just save money for the future?

I don't dislike living with her by any means and we get along fine, and I might throw in the fact that we don't have any other relatives in this country, so we rely on each other quite a lot, but I suppose the building shame and feeling of being the anomaly amongst everyone I know, is kind of making me feel something is inherently wrong with my life and that if I don't do this now, which seems like a prime period in my life to experience living alone, then I never will.

I also really crave peace and quiet and do enjoy having the house all to myself (which is part of the reason I don't see living with room-mates or friends as a good idea).

Is moving out and living on my own worthwhile endeavour to undertake and will it really change me for the better, or am I better off just looking for a higher-paying job, saving more money and then deciding what to do with myself when I'm in a financially more stable position with more options available to me?

Thanks in advance and I tried to keep this as short as possible, so apologies.

Poll Options

  • 73
    Move out already and start renting, you should have done it years ago.
  • 11
    Move out only if you'll have enough left over each month to keep saving.
  • 2
    Find a better job first, then move out and rent.
  • 18
    Move out but find a share house or rent with a room-mate to ease the costs.
  • 150
    Don't move out to rent, it's a waste of money, keep saving and buy a house.
Financial

Comments

  • [Deactivated] on 01/05/2019 - 22:28
    +3

    stupid to consider blowing money renting and that I should live with her and save up for as long as it takes to put a deposit down on a house.

    This is spot on. You're looking to make a decision that increases your liability and slow down your progress to acquiring assets.

    looking for a higher-paying job, saving more money

    Yes for both instance in every scenario.

  • redfox1200 on 01/05/2019 - 22:38
    +7

    buy a property as an investment and rent it out, it will cost stuff all. Then move out and rent somewhere and be independent.

  • sahh on 01/05/2019 - 22:40
    +4

    Buy somewhere affordable (but not necessarily somewhere you want to live), rent it out to earn rental income and rent somewhere you really want to live.

  • jug123 on 01/05/2019 - 22:42
    +8

    u mentioned ur not in a long term relationship but what do u do when u get a match on tinder

    • [Deactivated] on 01/05/2019 - 22:46
      +10

      Jump for joy.

    • dcep on 01/05/2019 - 23:45

      here for a good time not a long time

    • hey aj on 02/05/2019 - 09:34

      I click on the camgirl link they send me because they really need my help before we meet.

  • fishball on 01/05/2019 - 22:42
    +8

    There's no real shame living with family, I know a few guys and girls that live with family up till 35-40 years old because housing is bloody expensive in Sydney/Melb.

    I think it's great you get along with your mum, renting just because you can is so overrated.

    Save up, get the deposit then find a place you can afford/like to live in.

    It's not too late to buy when you're say 32 or 33. If you want to practice being independent then try taking responsibility around the house for your mum. Manage all the bills, repairs, internet/phone etc for her (if she'll let you).

    • goraygo on 03/05/2019 - 19:12
      +5

      Absolutely!

      Really, moving out and be independent is rubbish. I moved out only I was married and I can tell you there isn’t any big deal to it besides more workload. It’s not fun or enjoyable. It’s just things you must do to live your life.

      So, you can be independent at home. Start by helping out what your mum does

      Save the money and don’t waste it on rent. Even if you don’t want to buy a house, the money can be used for something else.

      • Danstar on 03/05/2019 - 19:42
        +2

        You’re not independent if you’re at home with mummy doing
        Your washing and cooking.

        The independents is about being able to do what you want.

        Having friends over
        Walking around the house in your jocks

        And most importantly, having lady friends over too

        • OneJay on 04/05/2019 - 00:22

          This.

    • Garroshs on 03/05/2019 - 23:03

      Are you greek?

  • Quantumcat on 01/05/2019 - 22:43
    +15

    If you're going to move out, move into a share house with young professionals. They'll be a similar maturity level / phase of life as you are and you can build on your social skills while not paying a lot of rent (in the order of $100-$200 a week).

    The longer you leave it the further apart you get in age from those in the same life phase as you and the harder it will be when you decide you have had enough and want to move forward with your life. People your own age will be moving further and further away from you in terms of life experience and you'll have less and less in common with them, making it harder to find peer relationships for every year you stagnate in your mother's house.

    No growth happens unless you're being challenged and stepping outside your comfort zone so I applaud that you can sense this and know you need to move out for the sake of your life and growth as a person. Money is not everything. Do you really want to be a sickly old lonely recluse at age 60 still living in your deceased mothers house when you have the chance to be a normal middle aged guy with a long term relationship, a few friends and maybe kids?

    • Kangal on 02/05/2019 - 08:45
      +1

      Nothing ventured, nothing gained.

    • Millikano on 03/05/2019 - 23:59
      +2

      Great advice.

      Living with others is a great way to grow your own mind and see a few different perspectives. It has its pro's and cons, but overall it's a low risk way to make a change that might help you feel more connected, and it may also lead to being more social by proximity. Highly recommend this approach.

      If it doesn't work out, you could always return home after giving it a go, tough I'd recommend trying it for at least 6 months. There's not much risk, and if you're sharing then the financial burden is also a lot more manageable. You could try living in a location that you may not otherwise be able to afford, try a new lifestyle, and see if it's what you would like to work towards moving forward if you were to buy and/or couple up again. It's hard to understand what you really want until you've tried a few different things.

      Best of luck with this next step ThrowAway Beverly Hills.

  • [Deactivated] on 01/05/2019 - 22:47
    +2

    I do suffer from anxiety-related disorders and panic attacks

    Just take baby steps that are comfortable for you and your mental health.

    I'm guessing your family is very supportive in this regard and the last thing you want is to be locked into a 12 month lease that's sets you backwards.

    ThrowAway90210

    Great zipcode. Awesome series

    • ChillBro on 02/05/2019 - 20:47

      I prefer 21014 myself.

  • trustnoone on 01/05/2019 - 22:52
    +4

    Not to sound iffy but are you asian? I swear many asian friends I talk to tell me the exact same situation.

    It depends your mindset on this, from a pure situational point of view staying with your mum, buying a house as an investment to rent out would set you up super well, you'll have lots of money, get money for the house and also pay back any mortgage.

    But I personally believe, the thing people don't get is learning about youself, that independence, that growth, this is a major step in moving forward in life and I think its a great one that will allow you to grow, even if it sets you back a bit financially, I'd rent a place.

    If you're worried about losing out, maybe find an area with housing that you might buy in, rent in the area for 6 months, that will teach you independence, let you be by yourself, help you figure out whether this is the lifestyle you're looking for. Worse comes to worse, you can go back with your mum, but now you have 'researched' the area you want to buy in because you've lived there a while, you've seen the good, the bad, the issues you never would've thought of until you started living there.

  • try2bhelpful on 01/05/2019 - 23:13

    Personally I was out of home at 18 because I moved to Melbourne to go to Uni, picked up my bloke and we’ve been together 38 years. I would’ve gone spare living at home until my 30s. If you are living with your mother you are unlikely to meet a new partner. If you want to trial independence then take over cooking, cleaning etc for at least part of the week. The other thing that might be worth looking into is house/pet sitting for short periods. That way you can dabble with independence without much outlay.

    You are, roughly, half way through your working life. When you are 60 what do you want to have achieved? I’m approaching that milestone, all too rapidly, and I look back on what I’ve done and I’m pretty happy. We own our home, I have a great partner, working in a career I, mainly, enjoyed, and setting myself up for a pretty good retirement. We’ve also travelled quite a bit. What are your long term goals?

    • [Deactivated] on 01/05/2019 - 23:15
      +18

      Sort of helpful. Sort of a brag.

      • try2bhelpful on 01/05/2019 - 23:19
        +7

        True dat! But my point is you don’t want to die wondering what you should’ve done. Whenever I come to a crossroad I think of the scene from Indiana Jones where he takes the leap of faith and steps out on the bridge. You need to take risks to achieve something.

        • infinity3000 on 03/05/2019 - 22:15
          +1

          Only the penitent man shall pass…

  • Randxyz123 on 01/05/2019 - 23:16

    Keep saving to buy a house. Maybe you could do something like pay your mum "rent" each month (if you aren't already) into a separate untouchable account as a way of saving. That way you can't spend it on Oz Bargain purchases.

    The other thing you could do is move to a share house with other people about your age as suggested by Quantumcat. It will allow you to perhaps get a new group of friends and some more confidence socially and get some independence. This would still allow you to save but have a bit more independence. Personally, this is what I would do in your situation.

    Unless you have a real desire to live alone. I wouldn't waste money on a 1br house/flat as they are always expensive.

  • MsBin on 01/05/2019 - 23:17
    +2

    Would it be feasible to build an addition or a granny flat on your mother’s property for you to live in? That way you’d gain some degree of independence, but be adding value to your family home and still have your mother around.

  • [Deactivated] on 01/05/2019 - 23:43

    Are you having a panic attack thinking about it. Wait till after the election.

  • [Deactivated] on 02/05/2019 - 00:34
    +1

    Not trying to sound rude, but it seems like you are stuck in rut, but just cruising through life, when your mind is asking for a full sea change.
    Trying a completely different town, job, that suits you might improve your morale?

  • Dr Techno on 02/05/2019 - 02:08

    The sensible thing to do would be to stay at home as long as you can and save/buy house to rent out. You will still be winning even if you live with your parents. but it's best to do what makes you feel happy within reason. 30 might seem like a major milestone where there might be pressure to grow up a little and accomplish many things while still trying to find yourself . maybe try living overseas for a month, a mini adventure ? it will give you a break, quiet time to think/reflect and responsibility for a short time. I did that, and I bumped into my future wife.

  • bargainjargon on 02/05/2019 - 07:07
    +1

    If there's a nagging feeling that you need to move out or just to experience something different then you'll need to do something about it. But if you're not fully committed to moving out then here are some options:

    • Move out but only for a year or 6 months or whatever. I mean, it can be longer if you really like it but you can tell yourself and your mum that you just want to try it out and it's not permanent. That way it doesn't seem like such a big shock. And if it does become permanent then at least you and your mum have had some time to get used to it.

    • The money that you'll be spending on rent, put that towards sending your mum off on holidays (assuming she wants to go somewhere). That way you can have the house to yourself.

    • Or you can go on holidays from time to time. Doesn't have to be fancy, just to experience something different. I find that I am a slightly different version of myself when I'm in a foreign country and when I come back, I've added a little more to myself. Plus I get a break from the day to day life.

    • Make some changes in the house in terms of how you and your mum live together so it doesn't seem like everything is the same.

    Maybe some sort of combination of the above options. I don't think you need to feel ashamed of living with your mum by the way. If you move out, don't do it because everyone else has done it. Do it because it would be better for you.

  • popcornready on 02/05/2019 - 08:01
    +3

    Have you done much travel OP?

    This might be a perfect opportunity to pack your bags and spend a few months overseas

  • Danstar on 02/05/2019 - 08:09
    +1

    Get out there and buy.

    Rent costs as much as a mortgage these days. Yes, owning a property incurs additional costs, but at least it's yours in the end of the day.

    I know you said you're not very social, but I'm assuming you're interested in woman? You never know, taking this big step in life might actually bring you out of your shell.

    Don't listen to anyone who tells you it's too hard, it's not worth it or to stay living with your mum because it's easier.

    Taking the easiest option in life isn't always the best option.

    The travelling the World option is nice if you're up for that, but being quiet on the social front, becoming independent in your day to day life might be better for you.

    Ps. Buying is almost like saving, as you are paying off something you can eventually sell or lease out

  • anti-hero on 02/05/2019 - 08:20

    buy an investment property and rent it out.
    move in after a few years if you like.
    other than the 20% deposit, the rental income will cover the mortgage payment.

  • ihbh on 02/05/2019 - 08:45

    I feel I just need to do something different

    Doing sth different can be going on holidays, not just overseas, but interstate, for day trip, etc. Have you done this recently? Joining a club - e.g. tennis, running, chess, community gardening, bird watching, etc.

    If you move out, it will be initially different, but then same same, unlike going on holidays, joining a club, etc, which allows you to meet new people and make acquaintances and friends.

    • Danstar on 02/05/2019 - 08:54

      Same could be said with going on holidays.

      It's all fun and games while on holiday, but then you come back to reality. Which in this guys case, is living at his Mums….

      • ihbh on 02/05/2019 - 08:55

        holidays

        you can make friends and keep in touch.

        • Danstar on 02/05/2019 - 09:22

          Living alone. Can invite people over, have parties, do what you want.

          And best of all, still be able to go on holidays and invite said people you meet on holidays to stay over ;) ;)

      • funnysht on 03/05/2019 - 23:07

        yes come back but with experience and a new view on life maybe.

  • [Deactivated] on 02/05/2019 - 08:56
    +2

    Nice to see a well structured, coherent forum post. Congrats

  • seraphim2017 on 02/05/2019 - 09:12
    +10

    you're 30 and have never lived.

    you will never be as young, as healthy, and have as long to repair your life as today.

    Ask for a sabbatical from work, leave on good terms, travel, see the planet before we accidentally blow it up. You'll regret not doing that and spending a little of your money more than hitting 40, then 50, and still not yet lived.

    YMMV, it's not for everyone, so it might be scary/not of any interest to you, but that's what I did in my 20's a few times. You won't get to do those things once you're climbing in a career with a family in tow (if that's what you aim for), there is no freedom like travelling, and Aussie passports get you pretty much everywhere.

    Whatever you do, good luck.

    • gk0r on 03/05/2019 - 20:57
      +3

      What she said. I got depressed just reading how miserable and said your life is.

      You've got to get out and live a little

    • funnysht on 03/05/2019 - 23:05
      +1

      exactly, it isn't for everyone but as long as you've gone out there and travelled for a while then you can say you have tried it. Remember in the end you're responsible for yourself The best time to build a tree or correct a mistake was in the past, the next best is in the present. All the best

  • voiletmay on 02/05/2019 - 09:16
    +7

    Life is about experiences, so I think you should move out. I'm nearly 50 and due to having cats with complex health needs when I was young, and children soon after (one autistic), I never had many life experiences at all. I really regret this now.

    Being in a rut is like being in a sort of prison of your own making. If you are child and pet free, then you have freedom for anything.

    Please go and live life, become independent. Find things you enjoy, find your people, find new interests.

    • funnysht on 03/05/2019 - 23:02

      remember doesnt matter how old you are in the end you can still have experiences (as long as you're healthY). I'm not in your situation but you may try to look for relief care (trained ppl who look after loved ones for 2-3weeks) and have a good decent break and travel for a while. Otherwise you are very admirable to doing what you have done. I feel a lot for carers.

      • trapper on 14/05/2019 - 19:06

        haha man the idea that you can take off and leave your kids with carers for 2-3 weeks while you're off having some 'life experience' is a complete fantasy.

        Make the most of your youth while you are young, there is no second chance.

    • jso1980 on 02/05/2019 - 10:16
      +2

      I lived at home until i got married at mid 30s.
      stop being judgemental, maybe he likes taking care of his parents

    • Jugganautx on 04/05/2019 - 07:06

      Upvoted

  • Trying2SaveABuck on 02/05/2019 - 10:16
    +1

    Sounds like you a bit lost since you relationship ended - im guessing you were with this person for a long time and are looking for something to fulfil life as you have admitted are 'bored'

    On OZB you will get most people tell you to stay with mum and milk the $ as much as you can, which isnt bad advice if you are financially inclined. I dont think money is your main motivator though and the truth is it is your life and you need to decide what motivates you.

    30 isnt old but it certainly isnt young if i was in your position i've travel or work perhaps work overseas for a year or 2 perhaps go work in london and experience life.

    It sounds like you dont have loads of ties here and if you ask me Australia is a great country but it is super uncultured and when you travel it opens your eyes to the world - you never know you might meet some new friends, go on adventures and potentially find love…

    But the 1st thing i'd advise is work out what you want out of live perhaps start with a simple question "in 20 years from now i want to be…?" the follow it up with in "30 years from now i'd regret now…?"

    Answer those two questions and it might give you some guidance…

  • lasoo88 on 02/05/2019 - 10:40
    +1

    Such a relevant post to me. I've lived in a few share houses (when I couldn't bare living with my psycho family any longer), and while it was generally a good experience, it can be hit and miss. You either come out with friends, or good stories of wierdos at the end of it. However a few years ago I moved back to save, and have degenerated as a person, mentally and physically and back in the so-called 'rut'. Only recently I started taking mild lexapro/SSRI's (5mg, the lightest dosage) for anxiety/depression when I had been avoiding taking meds since having a bad experience first time I tried when I was 19, and I found it has made a HUGE difference (for me). I don't know the details of your anxiety, but if it is a regular thing, why don't you discuss with your GP to test some out for a few months? Also if you have the opportunity, go to events which explain about the housing/property market and processes. You learn a lot and get a better idea of your options. It is great that your mother is supportive of you and that you get along, definitely try taking on more responsibility around the house, perhaps do half weeks or forghtnightlys where you do 99% of the chores? Learn to cook (better/balanced) if you haven't already. Get your mum to teach you how to clean 'properly'. I would agree rental costs are ridiculous, and you'd want a future plan before you move out, and in your case I suppose family company is pretty important. Why don't you go on a long tour or a holiday, join a social group or sport/excersise class and force yourself to get out more (I am being a complete hypocrite here). Or even a solitary sport like cycling or bouldering, at least it would force you to get out. Look at short/long courses to improve or change career, or find your passion. Good luck to us ~30's. Most of us are very lost, you are not alone.

    • Danstar on 02/05/2019 - 10:47
      +2

      Most of us are very lost, you are not alone.

      I'll probably be crucified for saying this on here, but this upsets me.

      Yes we all have different experiences and circumstances, but in the end it's up to every individual to make the most out of the very short life we have.
      Seems like every 35 and under is 'lost' or has no real ambitions in life or stuck in a 'rut' or expect everything for doing very little in return.

      Life is hard and shit majority of the time. It's the way you decide to take on the hard stuff and either let it bring you down or work your way through it to be as happy as you can.

      • lasoo88 on 02/05/2019 - 19:05
        +2

        Sure it upsets you, that's fine. It upsets us as well.

        Life is shit, which is why over half of my earnings would still be burnt on rent costs if I hadn't moved back. I wasn't willing to live further away from the city due to work location (which required driving) and there were no bargains.

        Thanks to my decision to sacrifice my sanity and wellbeing (and because my parents will still put up with me living (and helping out of course) in their well-located warzone, gotta be appreciative) I am finally at the stage where I have enough savings to be able to consider looking at getting my own place, owning not renting.

        This would have taken double the time if I had continued renting. This would also have been a really cruisy arrangement if it wasn't so dystopian, so some people are lucky.

        Sometimes sacrificing freedoms can be the shortcut to happiness. It all depends.

        *Maths would be wonky, I have an unusual work arrangement and earnings varies, so rough guess.
        *It was not necessarily the best method though. In some cases money just isn't worth this kind of psychological sacrifice. But OP gets along with his mum so.

        • lasoo88 on 02/05/2019 - 20:39

          I mean, buying not renting (don't have enough saved to own outright).

          I believe that OP may be thinking that moving out will solve his problems even though he doesn't have a huge incentive to vs. the cost atm.

          If you can get to work from your mum's, have put in the effort to help out and learn life skills instead of completely relying on her to do everything, and most of all you both get along and enjoy/appreciate each other's company, then why move out now and waste money on rent?

          Personally I think OP should just get out more.

          Regards to shame: Living at home at 30 ain't that rare from what I see…

    • lasoo88 on 02/05/2019 - 10:51

      *Just want to clarify, I'm not sayig living at home is degenerate, it is my dysfunctional family environment which is the problem. I generally encourage my friends who get along with their family not to move out 'for the sake of it' because it eats money which won't come back. Go on a long holiday instead. Get a pet if your mum will let you. get indoor plants.

      • Danstar on 02/05/2019 - 13:13
        +1

        Get your own home. Become independent. Fill your house with what you want, with who you want, when ever you want.

        Freedom > Money

  • inherentchoice on 02/05/2019 - 10:54

    Really surprised at the number of people who voted in this poll to say renting is a waste of money. Why???

    Sure, maybe "rent money is dead money" but so is interest on a loan. So is Council rates. So is depreciation! And right now the market is trending down no?!???

    • Danstar on 02/05/2019 - 11:07

      So perfect time to buy if markets are down

      Property usually never goes down, especially anywhere 35kms within the city (in Melbourne anyway)

      At least you're paying off something that you will eventually own or if worst comes to worse, be able to re-sell (most likely at a gain)

      • inherentchoice on 02/05/2019 - 13:19
        +2

        Markets trending down means buying now could result in a capital loss.

        And that's on top of any interest borrowing costs.

        If the rent = 3% of the purchase price and interest = 4%, then renting is cheaper.

        A lot of rental properties are negatively geared by the owner, which means interest and expenses is more than rental income. They are making a loss, but betting on a profit because of a capital gain.

        There's risks both ways.

        • Danstar on 02/05/2019 - 13:23

          (rent) Cheaper in the short term, guaranteed Loss in the long term

          • inherentchoice on 02/05/2019 - 13:35

            @Danstar: If market is going down, renting is less loss than owning.

            If interest is more than rent, renting is less loss than borrowing.

            • Danstar on 02/05/2019 - 13:56

              @inherentchoice: Interest at all time low and not going up anytime soon.

              I'm basing my comments on the here and now, not the possibility of markets crashing and interest rates rising.

              Property has stagnated / dropping very slightly. Property in the long term, is always a beneficial investment.

        • natman on 02/05/2019 - 20:41
          +1

          https://www.corelogic.com.au/news/how-properties-have-change…

          Capital city dwelling price falls from peak as of March 2019:
          Sydney 13.9%
          Melbourne 10.3%
          Perth 18.1%
          Darwin 27.5%

          Time will tell whether or not 'property in the long term, is always a beneficial investment'.

    • try2bhelpful on 02/05/2019 - 11:12
      +1

      Renting is fine, short term, but it means you are always at the mercy of the landlord. IHMO the sooner you can start buying your own home the better off you will be. We rented for, roughly, 7 years before we bought our own house and I don't regret getting out of rental accomodation; even though my landlords were a pretty decent lot. If I want a pet, it is my decision, if I want to paint the walls, it is my decision, if I want to do improvements, it is my decision and my benefit.

    • BargainShopaholic on 03/05/2019 - 22:58
      +1

      I was in the “no need to buy” boat when I was younger, until after witnessing elderly friends of my parents having trouble finding housing.

      Now, my view is having my own home is safeguarding my future. Even if it’s just a shoe box, I’ll still have a roof over my head when I’m in the later years of my life.

      I wouldn’t want to stress about having to find housing and hoping to be accepted as a tenant when I retire.

  • nubzy on 02/05/2019 - 11:26
    +1

    It's very common for people to be living with family into their 30's these days. Keep saving, invest your money and eventually you will have enough for a house deposit. You can still be independent living at home. If you cook your own meals, pay your own bills etc I see no issue at all. Personally I would much rather live with family and save than shell out hundreds of dollars each week for a share house or even worse try and afford rent on my own for an average apartment.

    • Danstar on 02/05/2019 - 12:05

      It comes down to what's more important to you

      Money or Independence/Freedom

      • nubzy on 02/05/2019 - 13:56

        How much more independence do you really get from moving out of home? You can still live at home and have your freedom/independence if you choose to. There are plenty of lazy Gen Z/Y's out there that leave everything to their parents, but if you take an interesting in cooking meals, cleaning up and helping around the house then that is the same as if you were living alone IMO. Not to mention you get the freedom to take off on holidays/road trips any time and don't have to worry about house sitters/renting out your place. If you get on well with your family, it makes sense to live there until the time is right in terms of finances/partner etc. Life is extremely tough these days (especially for the young), there's no reason to feel ashamed for living at home so long as you aren't just sitting around doing nothing.

        • jenkemjunkie on 03/05/2019 - 20:06
          +7

          Sometimes you just wanna just go out to party, bring it back to your own house and not have to worry that your parents are gonna be upset because your mate is banging some bird on the couch and you’re busy railing some bird in the spa…and doing drugs getting proper wankered.

          Obviously the OP is probably not interested in this and probably not advisable giving his current state of mind but you know, that kind of freedom freedom

    • thefud on 04/05/2019 - 07:42

      Is it as ‘normal’ to live at home as long as every one here is saying?

      I’m 27 and I can think of maybe one friend who lives with their parents cause he wastes all his money on amateur car racing and doesn’t save a dime.

      I’ve lived out of home since 17 and have had a cracker of 10 years, full of ups and downs, new friends, living in three different states, multiple different jobs leading toward a really fulfilling career that pays very well.

      Stop living inside this box you and others here think is the ‘norm’. If you ever want to be an outlier, you got to live with a little risk and allow yourself to get uncomfortable.

      For the record, buying a house at the moment with my fiancé and getting married in the same year with a 20% deposit and our poor ass parents not helping at all. Stop draining your folks and make something of yourself (applies to all the family leaches in this thread too).

  • Starlight8 on 02/05/2019 - 12:38

    Dont move out!

    Rent is dead money. Save as much as you can :)

    Moving out is overrated - too many chores you gotta do…

    • inherentchoice on 02/05/2019 - 13:35

      Rent is dead money.

      So is loan interest. So is council rates. So is depreciation, and now the market is trending down.

      • Danstar on 02/05/2019 - 13:57

        So is loan interest. So is council rates.

        They're inevitable costs of owning a property.

        Property has stagnated / dropping very slightly. Property in the long term, is always a beneficial investment.

  • outlander on 02/05/2019 - 12:38
    +2

    Don't expect any answers, guys. User is in the penalty box

    • mousie on 03/05/2019 - 22:07
      +1

      His mum locked him up

    • funnysht on 03/05/2019 - 22:37

      why is he in the box?

      • outlander on 04/05/2019 - 13:35
        +1

        With the site policy is to only have 1 account per user, and this guy having a username of ThrowAway90210, I think you can probably guess why.

  • TheBilly on 02/05/2019 - 19:33
    +2

    Do something fun with your life, you are prime.

    Single
    Young
    Bit of money
    No commitments

  • capslock on 02/05/2019 - 19:48

    Life is short. Live it.

    Rent for one year. It is relatively low cost for valuable life experience. You can always move back home after one year and everything can be as it was before.

  • Hardlyworkin on 02/05/2019 - 21:58
    +1

    I'm surprised at the amount of people voting to save for a house. You've put your life on hold for long enough. Make a decent break and move to a different state if it's something you think you can handle. Live your life!

  • Halo375 on 02/05/2019 - 22:30
    +2

    The issue is not where you live, it’s about how you live. What you enjoy, what makes you happy and what keeps you going. You need to be focusing on your interests and on your relationships - then you can start to think more long term about things like housing. Get out there and experiment a bit more, the world is an amazing place if you have the guts to throw yourself into it.

  • mousie on 03/05/2019 - 19:27
    +2

    Cut the umbicle cord already.
    Why did the last relationship end? Comfortably numb?

    Ships weren't built to stay in the harbour.

  • belongsinforums on 03/05/2019 - 19:46
    +1

    If you want adventure, moving out probably won't cut it. Move overseas!

  • thriftybunny on 03/05/2019 - 19:54

    It sounds like you may benefit from taking a couple months of holiday somewhere, enjoy the independence and your own company. Best of luck with whatever you choose!

  • jenkemjunkie on 03/05/2019 - 19:59
    +1

    So many votes for ‘keep saving and buy a house’ , yet hardly any discussion on the cons of home ownership - particularly where the OP is relatively young and wants to ‘try something different’ and is probably yearning for some sort of social life or new purpose or meaning.

    A house? Enjoy your illiquid, high initial capital outlay, non-productive asset and all the bs that goes with it - including the feeling of being locked into that job you hate because you now have a mortgage. Dealing with property managers, tenancy issues and insurance is also a hassle…

    Met a few home owners in their 20s that did the living at home thing first. They are almost always the mal adjusted, socially retarded archetype.

    • ChillBro on 03/05/2019 - 22:29
      +1

      You can always rent-vest if you buy and want to live elsewhere.

      • jenkemjunkie on 03/05/2019 - 23:22
        +2

        Sure you could…you could also invest in an ETF - a productive asset and reap comparable returns that is more liquid without the stress and still be able to rent and have more freedom.

        The state of the general Australian’s financial literacy is grim - owning houses and putting whatever in their savings accounts is pretty much it.

        • trapper on 14/05/2019 - 18:57

          himm… I have a chunk of cash sitting in an investment property offset account, reckon I would be better off pulling this out into an EFT? or something similar

          • jenkemjunkie on 15/05/2019 - 13:35

            @trapper: I don’t think you need to look at it as a binary decision, i.e all my money must be put here or there. There’s nothing stopping you from just putting $5k together and starting a managed fund with say vanguard (or buying there ETFs on market) that is right for your life circumstances and still have money parked in the offset (because offsets can be handy). Then figure out how you want to weight these decisions later.

            Building wealth takes time and you have to temper the desire for maximum returns because you will put more risk on yourself.

  • Brouw3r on 03/05/2019 - 20:28

    Have you considered moving into (or starting up) a share house rental? If social anxiety is an issue it will force you to deal with new people and you won't have the full cost of a rental on your own.

    FWIW I built a house with my now wife when I was 24/25 (now 28) and don't regret it at all. It's probably not worth any more or less than what we spent on it but the interest only costs have been less than what a rental would have cost us; by paying P&I and we're ahead in that sense.

    Personally I wouldn't go into a house alone as if me or my wife lose our jobs we have the other to support the other until they find another job, not the same case with a single person. Sub-letting would mitigate this risk to an extent and if you have a decent savings then could be a non-issue too.

  • funnysht on 03/05/2019 - 22:28

    I think if you really want the confidence you should test it out- get an airbnb place etc for 1 month and then see how it goes if you like it. I mean if you sign a rental agreement thta's for 12months so you really cant go back.

    Overall i think you can do other things to improve your confidence. Remember changing your surroundings won't help it is you that needs to change to the surroundings anyway.

  • idonotknowwhy on 04/05/2019 - 08:07

    You could always rent, and invest the difference in index funds.

    https://youtu.be/NZR_vMTLfIk

    • Danstar on 04/05/2019 - 09:19

      Rent and mortgage are basically the same cost these days

      • idonotknowwhy on 04/05/2019 - 10:46

        Not where in living (100m away from where I work)

  • [Deactivated] on 04/05/2019 - 08:14

    What is more important to you ? I could've been with my parents and financially better off too but I chose to move out of the country and expand my horizons. I am very happy with my decision. It totally depends on what you're after.

  • blackorange on 04/05/2019 - 08:44

    I think a lot of people out there have a "buy or nothing" attitude, and if your ultimate goal is to “get the most money“ then staying at home is the way to go. But if you're looking to live your life while you're young and explore different things, the downside of all that is it's just not possible to be as frugal as scrimping every last cent living with your mum.

    I spent a year travelling and I will never regret the money I spent on that. To some people I could have put it towards a house but to me I spent time as a young person getting life experience and that is priceless.

    • Danstar on 04/05/2019 - 09:20
      +1

      Money isn’t life

      Staying at home with mummy isn’t a life. It’s easy and comfortable

  • AlanHB on 04/05/2019 - 08:57
    +2

    I understand that logically your money is better placed in an asset rather than paying rent, but to state that renting is "wasted money" is incorrect.

    Renting is giving you a place to live, your own space where you can do literally anything you like. It's incredibly important to me to have an entire place to myself without an authority figure present. I've worked hard all day, don't need to be on alert again when I get home.

    I do understand that you get along well with your mum, I get along with my parents too. However, I think you'll find benefits/differences in living in your own place that you won't discover until you actually do it. For me it was things like "the stuff in the fridge isn't going anywhere unless you eat it" and "you made that mess, nobody else". Or "nobody is going to wake you up".

    If things falls over, you can move back with your mum. Otherwise her views shouldn't really come into it - you're 30 dude.

  • trapper on 14/05/2019 - 18:49
    +1

    It blows my mind how so many young people let their 20's and 30's slip through their fingers without really experiencing life.

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