(Closed) Should we move into parents house and save for downpayment or continue to rent?

posted 8 years ago in Home
  • poll: What would you do?

    PLAN A: Move into parents next summer, save for downpayment

    PLAN B: Move into cheap apt over summer, then move into parents house to save for downpayment

    PLAN C: Forget moving into parents/saving for downpayment; just keep renting

    Forget your plans, I have a way better option! (Please tell us so we can consider it too!)

  • Post # 3
    2622 posts
    Sugar bee
    • Wedding: November 1999

    This comes from a bias of a couple where we each commute an hour to work. So I dont feel like the commute is a problem. Its not fun, but totally doable for the amount of money you would be saving.

    As for the friemds, if you have a house they could come out for a nice backyard BBQ or dinner party and if they want to, they stay over.

    With the money your saving you could once a month go near to where your friends are go out and stay in a hotel. It takes some effort and planning, but you can still be active socially. We reguarly drive 45 minutes to meet our friends, or we split the differnce and meet 1/2 way at a restaurant.

    Post # 4
    10635 posts
    Sugar Beekeeper
    • Wedding: January 2011

    An hour commute is not long, it used to take me 45 minute late at night (so no traffic) to commute within the city.

    I wouldn’t want to live with my parents, but it they have an empty house you should take it!  They would need someone to look in from time to time anyway.

    How early you would move there just depends on whether or not you think all of you would be happy under one roof for a while.  I would hate to do something like that for more than a month, but that’s just me.

    Post # 6
    530 posts
    Busy bee
    • Wedding: May 2013

    SAVE, SAVE, SAVE, SAVE!!! I wish I would have taken advantage of living rent free more then I did 🙁 it may suck for a little, but will be worth it in the long run.

    Post # 7
    2116 posts
    Buzzing bee
    • Wedding: October 2013

    Carp. I voted before reading.


    If your parents aren’t going to be there, then by all means…move in as soon as your lease ends lol

    Post # 12
    5669 posts
    Bee Keeper
    • Wedding: August 2010

    Most people around here commute on average at least an hour to work. I of course am spoiled and somehow landed a job 10 minutes away. I would go with Plan A and move into your parents, as long as you both have a good relationship. I did this during our engagement to save money and it was very helpful. This could bring you much closer to your financial goals. If you don’t socialize with your friends enough now I don’t think it’ll matter where you live. A lot of dynamics change after you get married and are in a different stage than you friends and it also sounds like you 2 are very busy. Just make plans ahead of time and plan to get together for the whole day. With med school, work, etc. I’m not sure you would really being going to the bar on a last minute invite even if you lived down the street. And people move too, so what if your friends starting buying houses in the country?

    Post # 14
    2424 posts
    Buzzing bee
    • Wedding: May 2012

    If you have a good relationship with them, and it will only be for a very short period, I would save the money and live with them.

    Post # 15
    10635 posts
    Sugar Beekeeper
    • Wedding: January 2011

    View original reply
    @chipmunklove:  I would wait before buying.  If you think you are going to move within 5 years, it’s often not worth it to buy between the fees, plus the hassle of actually buying and selling again.  You probably don’t know where Fiance will be doing his residency.

    Also, will you have enough of a downpayment to get the type of place you would like by then?  Here, housing is expensive and saving for a few months (by staying at your parents) isn’t a big % of a house payment.  If you wait, would it make the difference between having 20% and avoiding extra fees?

    Post # 16
    13094 posts
    Honey Beekeeper
    • Wedding: July 2010

    I don’t think any of the commutes for any of the options are totally awful.

    I’d do option B.  That way you don’t have to fell like you are invading your parent’s space and your Fiance can be closer to school for his really intensive summer semester.  But you still get the savings of not having to pay rent for the rest of the time.

    The topic ‘Should we move into parents house and save for downpayment or continue to rent?’ is closed to new replies.

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