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Reply to "Who here is regularly supporting their adult children financially?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I wonder about this as well. My son graduated last May from a top school and got a job paying $78K a year that he started in September. He's currently living at home to save some money. Lots of his co-workers (similar jobs, same experience) have apartments in Clarendon and Dupont. I just don't know how these kids afford it and still have a social life. My son, granted, is putting a lot of money away. He would really like to buy a condo vs. pay rent, but interest rates are too high right now. I do wonder how many of these kids with their own apartments are getting help from parents. We could easily afford to help him, but I'm not quite there with it. We would definitely help with a down payment on a condo though. [/quote] Much smarter for him to live at home with you (assuming commute is doable) and save a ton. He can still hang out with friends, and he will actually have some $$ to do so a few times per month since he can live rent free, all while still saving to buy [/quote] +1 Our DS is a recent grad also living at home and saving $$ and I think it enables his social life more tbh. He can afford his used car and has a place to park. He has spare money to go out with friends more. His gf lives at her parents' home and they regularly stay over at each others' places so it's kind of nice to have time with both of them and time where the house is more empty. If they stay together, they will likely move in together when they have saved enough for a down-payment. Lots of his friends who are in a stable romantic relationship are doing something similar but there are a few couples who have family money that have their own apartment and they tend to host the gatherings. It kind of reminds me of my parents' generation (except that s.o.'s are allowed to stay over which was not the case for my parents' era/social milieu and there's no pressure to marry before moving in together). His friends who are single though are more likely to rent and share an apartment with several friends. And I think if DS were to break up with his gf he would be more likely to move in with friends and rent because living with your parents might cramp a dating lifestyle--but who knows?[/quote]
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