25yrs old, making $30,000......

[EvilPaper]

Dude, do whatever you want to do.

You are the one who has to live your life. Everyone you ask is going to have a different opinion.

I will say this, however, owning your own place is very nice, but 30k gets eaten up really fast.

 

[darkxshade]

Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

 

[rahvin]

Unless the stepmom tells you to get out just ignore her "subtle" hints. If you are concerned, ask your dad about it in private (ie no step mom around) and let him know you want to stay until you get your loans paid off. He may be completely unaware what she did or intends. Personally I'm of the opinion that you should just stay where you are until you have those school loans paid off.

 

[miri]

Originally posted by: darkxshade
Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

wow, that apartment would go for 3k easy in manhattan and thats without the free electricty and water, how did you manage to get that apartment for so cheap??

 

[vi edit]

Sheesh. You could be making $35k-$40k by having nothing more than a pulse and the ability to spell your name at my employer(CSR job...thankless but pays wells)...and I'm in Omaha, NE.

Granted it's not California, but rent is cheap and Housing is reasonable (Nice homes for $130k).

You'll never get beyond poverty in that setting with your wage.

 

[mugs]

Originally posted by: miri

Originally posted by: darkxshade
Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

wow, that apartment would go for 3k easy in manhattan and thats without the free electricty and water, how did you manage to get that apartment for so cheap??

Bolded for you.

 

[miri]

Originally posted by: mugs

Originally posted by: miri

Originally posted by: darkxshade
Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

wow, that apartment would go for 3k easy in manhattan and thats without the free electricty and water, how did you manage to get that apartment for so cheap??

Bolded for you.

nice, how do you get into a rent controlled apartment?

 

[JLGatsby]

Rent control, another socialist "the world owes me" program.

 

[mugs]

Originally posted by: miri

Originally posted by: mugs

Originally posted by: miri

Originally posted by: darkxshade
Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

wow, that apartment would go for 3k easy in manhattan and thats without the free electricty and water, how did you manage to get that apartment for so cheap??

Bolded for you.

nice, how do you get into a rent controlled apartment?

http://en.wikipedia.org/wiki/Rent_control

 

[darkxshade]

Originally posted by: miri

Originally posted by: darkxshade
Well I'll be 25 this year and still living with my mom, only difference is that in a year or 2, she'll be retiring and moving to china with dad and transferring the rent to my name. And we're currently living in a rent controlled government apt building in manhattan NY paying a lowly $600/month rent(2 bedrooms, free electricity, free water). I rather be a loser for another 2 years than to give up such a deal.

wow, that apartment would go for 3k easy in manhattan and thats without the free electricty and water, how did you manage to get that apartment for so cheap??

forgot to mention free gas too... project building @ downtown manhattan, lived there since 1985, rent cap is $1k/year but with my current income it's only $600/year. Live on the 13th floor with a nice view overlooking the east river & brooklyn bridge... 20 min walk to wall street or city hall where I work. I'm never giving this place up... NEVER!

 

[chuckywang]

What is your job?

 

[Azndude2190]

Originally posted by: chuckywang
What is your job?

 

[Injury]

Originally posted by: GregGreen

Originally posted by: Injury

Originally posted by: spidey07
you are 25, you should not be living with your parents no matter what.

time to grow up.

At this age, he's in the right crowd for marraige to be in the near future... so he should either look into a house that can support a small family, or find a very cheap temporary solution.

women like dudes who don't live with their moms ftw

Women like:

Financial Secuirty > Living alone
House Buying Potential > in debt, shi*hole apartment
Loving, supporting family > man too afraid to admit that he doesn't need to have his own place.


If you're just trying to get laid, then by all means, move out and have a place where you can take the ladies to.

If you're wanting to start a lifelong relationship, anyone worth keeping will understand why you live with your parents.

Funny thing is that in most other countries around the world, (especially latin american) it's not uncommon for children to stay with their parents until they have childen of their own.

I live on my own, but I can't find where it would be an insult to live with your parents unless you're doing NOTHING with your life.

 

[dquan97]

Move to a cheaper location and find a better paying job

 

[Aimster]

I was 23 and I still lived with my parents
..

I might move back in.

School + Car + Mortgage = !@E#*!)#*

 

[wiredspider]

didn't you just answer your own question? you said it was to expensive to buy house or rent a place, so you are stuck at home and while there you need to pay off your debt. other options might be to get a better paying job...

 

[montanafan]

If the only reason you're thinking of moving out right now is because of your step-mother's subtle hint, try talking to her or your father about paying a small amount for rent or pitching in for groceries, utilities, etc. so that you can pay down your loans and save some as well to move out later.

Otherwise, you're going to have to try to find a room instead of an apartment to rent or get someone to share the rent on an apartment or move some place where you can live alone on what you make or get a second job.

 

[EatSpam]

First, pay off your loans.
Second, if you're only making $30K, get out of SoCal... its MUCH cheaper elsewhere.

 

[RaistlinZ]

Thanks to all who have posted so far. I'm thinking now that I need to suppliment my income while I look for a higher paying job. I work from 7:30am to 7:00 pm M-F and 8:30am-1:00pm on Saturdays at my primary job (I work in the rental car business) so I'll probably need something I can do on the weekends.

And I guess that when I do move out I will probably share a house with someone looking for a roommate. I searched the newspaper today for things in my area and most renters are asking for about $500/mo from a potential roommate, which isn't too bad.

For those that are curious, here's how my finances break down every month:

$2,400 earnings before taxes

-240 (10% to my 401(k))
-250 (rent I pay to my folks every month)
-260 (taxes)
-250 (car payment)
-120 (car insurance)
-200 (montly student loan payments)
-100 (Variable Univeral Life insurance policy)
-100 (gas for my car)
-40 (cell phone bill)
-25 (credit card bill montly)
-30 (DSL bill)
-150 (food)
-20 (haircuts)
-60 (entertainment)
-30 (clothes/dry-cleaning)
---------------------------------------

= $525.00 leftover (assuming nothing unexpected comes up that I have to pay for)

I'm thinkng of cutting down on my entertainment a bit, and possibly cancelling the VUL insurance policy. That alone would put back about $150 back into my wallet each month.

 

[Baked]

You can't buy a happy meal w/ that income in the bay area. consider yourself lucky.

 

[KK]

Originally posted by: RaistlinZ
Thanks to all who have posted so far. I'm thinking now that I need to suppliment my income while I look for a higher paying job. I work from 7:30am to 7:00 pm M-F and 8:30am-1:00pm on Saturdays at my primary job (I work in the rental car business) so I'll probably need something I can do on the weekends.

And I guess that when I do move out I will probably share a house with someone looking for a roommate. I searched the newspaper today for things in my area and most renters are asking for about $500/mo from a potential roommate, which isn't too bad.

For those that are curious, here's how my finances break down every month:

$2,400 earnings before taxes

-240 (10% to my 401(k))
-250 (rent I pay to my folks every month)
-260 (taxes)
-250 (car payment)
-120 (car insurance)
-200 (montly student loan payments)
-100 (Variable Univeral Life insurance policy)
-100 (gas for my car)
-40 (cell phone bill)
-25 (credit card bill montly)
-30 (DSL bill)
-150 (food)
-20 (haircuts)
-60 (entertainment)
-30 (clothes/dry-cleaning)
---------------------------------------

= $525.00 leftover (assuming nothing unexpected comes up that I have to pay for)

I'm thinkng of cutting down on my entertainment a bit, and possibly cancelling the VUL insurance policy. That alone would put back about $150 back into my wallet each month.

Yeah, definitly cancel that life insurance policy, thats a waste at your age if you don't have any kids or wife.

 

[Siddhartha]

Originally posted by: RaistlinZ
I need ATOT's help.

I'm a 25yr old guy making about $30,000/yr. I've been living with my folks for the past year but I really feel like it's time to get my own place.

The problem is that here in Souther California new homes are WAY out of my price range ($400,000+). The other problem is that rental units are also very expensive now, about $900/mo. for a single residence. Condos are also high priced in this area, and they just don't look like a good long-term investment for me. I've also considered sharing a duplex or something to pay a smaller rent, but I really want to have a place to call my own.

Does anyone know of any programs that could help people in my situation get a new somewhat decent new home? (I've never owned a home before, my credit is mediocre, I still have about $21,000 in total loans loans to pay off). It seem like I'm stuck between a rock and a hard place right now and I just don't know what I should do.

What I really want to do eventually is get some investment properties for myself and rent them out, but it seems like a long ways away at this point.


Cliffs:
1. 25 yrs old, $30,000/yr, living with my parents
2. Too expensive to buy a home, too expensive to rent an apartment
3. My credit is meh, I have $21,000 in loans to pay off
4. What should I do?

You are probably taking home less than $400 a week. Even with living at home, how much can you save? Outside of living at home, the most affordable option is having room mates. Do you know anybody you can stand enough to live with them for a couple of years?

 

[Mday]

renting a space about half the size of my room now would probably cost roughly half of my take-home pay a month. isnt is sad. a quarter of it already goes toward student loans.

200-300 for food a month. more if i "eat out" at a restaurant. no time to cook for myself so I cant bring lunch =

i'm already an hour away from work.

 

[RCN]

Originally posted by: Mday
renting a space about half the size of my room now would probably cost roughly half of my take-home pay a month. isnt is sad. a quarter of it already goes toward student loans.

200-300 for food a month. more if i "eat out" at a restaurant. no time to cook for myself so I cant bring lunch =

i'm already an hour away from work.

Move.

 

[fire400]

Topic Summary: Should I buy a home, rent, live on the street???

"live on the street???" is the answer

seriously, get the hell out of your parents house