I shouldn’t have to live with my dad just to save enough to buy my own home
When I moved out I swore I would never live back with my parents. But until recently I was living back at my dad’s. Life eh?! My story is typical of many of my contemporaries. Of all my mates only one has managed to buy a property, that zenith we all apparently strive to reach. Most, if not all, have spent at least a year to two post university back at their parents’ place(s).
Don’t break out the violin just yet. We have got decent jobs and relatively happy lives – we even get to go on holiday from time to time. But what we all have in common is the decision around living independently while striving to get enough of a deposit to buy. Or more likely, save a bit, meet someone worth sticking with (a relationship I believe they call it) and then move in to a private rented digs (a decision which would mean any ability to save plummets).
For those who haven’t had the delight of renting privately here is a rough breakdown of my moving costs (excluding utility bills):
- £156 on credit/background checks
- £1,250 on the deposit
- £200 in unspecified letting agent fees
- £625 upfront rent
- Plus the cost of shifting stuff to the new place
By moving into our own home we’ve seen our ability to save drop by around 75%. Rainy days will mean more stress than they used to. But if you want some independence and to actually start living like a grown up, i.e. not in your parents’ house, this is sacrifice we have to make.
There is not enough housing to rent or to buy and people like us get squeezed from all sides. Rents take up more of our income than we would like. Home ownership is out of reach. We just try and get by, making the most of what we have.
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