Rental costs for young adults moving out

[Anonymous]

Anonymous wrote:He continues to stay at home. Period.

Can you remodel your home in a manner that he can have a seperate living area? Can he move in your basement with a different entrance? Or the in-law suite?

In some parts of Asia, there are love hotels for people to rent rooms for a few hours to meet their GF/BF because they are living with parents.

Anyways, I hope he has a good understanding of how much the housing situation sucks here, and that he needs to save money now for four things - retirement, college for his yet unborn kids, a house in the future when he marries, and savings.

Hope you are paying for his wedding.

There won’t be kids because nobody is going to date a guy who lives with his mommy & daddy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He continues to stay at home. Period.

Can you remodel your home in a manner that he can have a seperate living area? Can he move in your basement with a different entrance? Or the in-law suite?

In some parts of Asia, there are love hotels for people to rent rooms for a few hours to meet their GF/BF because they are living with parents.

Anyways, I hope he has a good understanding of how much the housing situation sucks here, and that he needs to save money now for four things - retirement, college for his yet unborn kids, a house in the future when he marries, and savings.

Hope you are paying for his wedding.

This isn’t Asia.

Parents are under no obligation to pay for weddings, nor should they.

OP’s son should move out if he wants to and learn how to live independently (from his parents, but with roommates).

YES. And he should definitely move out.

[Anonymous]

85K is not a great salary in Washington

[Anonymous]

Anonymous wrote:85K is not a great salary in Washington

Yes it is for a childless, 23-year old living with roommates.

[Anonymous]

My DS is also in the same situation. He graduated from GMU last year with a CE degree and is currently working on a 130K salary but he is living at home to save money before moving out. He plans on living at home for another two years and he is saving almost 100% of his paycheck since he doesn't have to pay for housing, food, utilities, cell phone, or car insurance. He spends about 5K for a two weeks vacation with friends. As an Asian family, DH and I really stretch the importance of having a cash reserve so DS will have over 200K when he moves out. His GF, a UVA graduate, is also living at home to save money. That way, when they move out and get married, they will have about 350K in cash reserves to start their new lives. I don't get the idea that adult kids, 24 years old or less, are moving out as soon as they graduate from college and have jobs. Stay at home for a few years to build up the financial cushion so that they can weather unexpected things in life like layoff. Life is less stressful when you have a lot of money in the bank to weather storms while figuring out the next move.

[Anonymous]

Hahaha my mom thought son “must have low rent!” because son and gf live in an old apartment in Boston with no a/c. She is *slightly* out of touch!

OP most young people have room mates to get by.

[Anonymous]

Anonymous wrote:

Anonymous wrote:85K is not a great salary in Washington

Yes it is for a childless, 23-year old living with roommates.

This. People here are out of their minds. 85k is plenty. He could get a nice studio/one bedroom for bedroom with that.

[Anonymous]

Anonymous wrote:My DS is also in the same situation. He graduated from GMU last year with a CE degree and is currently working on a 130K salary but he is living at home to save money before moving out. He plans on living at home for another two years and he is saving almost 100% of his paycheck since he doesn't have to pay for housing, food, utilities, cell phone, or car insurance. He spends about 5K for a two weeks vacation with friends. As an Asian family, DH and I really stretch the importance of having a cash reserve so DS will have over 200K when he moves out. His GF, a UVA graduate, is also living at home to save money. That way, when they move out and get married, they will have about 350K in cash reserves to start their new lives. I don't get the idea that adult kids, 24 years old or less, are moving out as soon as they graduate from college and have jobs. Stay at home for a few years to build up the financial cushion so that they can weather unexpected things in life like layoff. Life is less stressful when you have a lot of money in the bank to weather storms while figuring out the next move.

Same troll story over and over

[Anonymous]

Quite frankly it just isn’t possible, I moved to West Virginia after I graduated because I couldn’t afford a place here. I found a place in Martinsburg for under $1000/month and suck up the 3-4hr round trip commute until I can get a few raises and make more money.

[Anonymous]

Anonymous wrote:Quite frankly it just isn’t possible, I moved to West Virginia after I graduated because I couldn’t afford a place here. I found a place in Martinsburg for under $1000/month and suck up the 3-4hr round trip commute until I can get a few raises and make more money.

BS. There is plenty to be had, with roommates obviously, in the $900-1050 range per-person right in DC and close-in. That’s per bedroom. Live where college students are living, as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Quite frankly it just isn’t possible, I moved to West Virginia after I graduated because I couldn’t afford a place here. I found a place in Martinsburg for under $1000/month and suck up the 3-4hr round trip commute until I can get a few raises and make more money.

BS. There is plenty to be had, with roommates obviously, in the $900-1050 range per-person right in DC and close-in. That’s per bedroom. Live where college students are living, as well.

Many have already mentioned roommates, I personally did not want roommates if at all possible, and was simply offering another solution if they are looking for a way to move out that worked for me. I don’t mind commuting as much as most and have had too many bad experiences with roommates, so West Virginia worked better for me.

[Anonymous]

After college, in the DMV, I lived in a studio in a very old building. It's what I could afford on my own. I had a full-time professional job. I also was waitressing some nights. A group of W high school acquaintances happened to come in and were shocked at (what they thought) my life had become. All of them were living at home and meeting up at the country club. All on their parent's dime. I didn't so much judge them but I was kind of shocked that they judged me.

[Anonymous]

Anonymous wrote:

Definitely not $1800 with roommates. That’d would be if he lived in a 1BR alone.

It’d be around $1300 for him (per person) living in a 2BR.

$15,000-$20,000/year isn't that much. Maybe half of his take home income?

That ratio was similar to even decades ago. I made $29,000 for my first job and paid $700/mo rent and had a roommate. Everyone I knew had roommates. Too expensive to live alone.

Many kids now are living at home an extra year to save up for a downpayment on a condo- maybe your son should consider that.

[Anonymous]

When I graduated with a DC gov job, I lived out in Rockville (not a cool close in loc) with 3 roommates. Took me 5 years to have my own apartment.

[Anonymous]

My DS graduated last year and is living at home. DS has several friends from college who are from the DMV and are working in the area. They are all living at home. His co-workers who are recent grads and grew up here are all living at home. The only young people he knows who are living on their own are people who moved here after graduation from college.

DS makes $85K and can afford to live on his own. But because so many of friends are at home, there is not a lot of peer pressure to move out. While he's at home, he's maxing out his 401K - he already has over $10K in it and he doesn't get matching with his employer yet. He's buying company stock options and he's putting an additional minimum $1K a month into a savings account. Basically pretending he is paying rent.