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Anonymous
Anonymous asked in Business & FinancePersonal Finance · 2 months ago

living on my own or with a friend?

on my own

- Pros: complete freedom, in a young and vibrant city, learn to be an "adult"

- Cons: expensive (rent is 45% of my after tax income), fiscal responsibilities can be overwhelming, have less money for other stuff (investments, savings, etc.)

with a friend

- Pros: super cheap (only 20%of my after tax income), have more for savings and investment

- Cons: less freedom due to it being his own house, the area is quiet and boring, a bit far from the city

your input is appreciated.

2 Answers

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  • Sky
    Lv 7
    2 months ago
    Favorite Answer

    I've actually been on both sides of that exact situation and what you write is not far off.  When I lived with my best friend it was cheap because we shared expenses, I often had someone to do things with (when we were both at home, since we worked different shifts), we could take care of each other's animals if one of us was away, and we always had someone there if we needed help with something.  Plus he was completely accepting of my naturist lifestyle so I had complete freedom to be nude as I wished.  Down side was, it was his house with his name on the mortgage so I always felt I had to get his permission to do anything that modified the house, such as simply driving a nail to hang a picture, and he kept letting people move in who had no job and contributed nothing to the house expenses.  That last bit was really pissing me off and what ultimately made me decide to buy my own house.

    Once I bought my own house I had complete freedom to do whatever I wanted with it since I alone made the rules and decisions, plus I moved somewhere with the privacy to be nude in most areas of the property, and with each mortgage payment I was getting that much closer to fully owning my own place.  The down side is I had to cover 100% of all expenses which seriously cut into my ability to build savings, and aside from having my doggies with me it got incredibly lonely because I rarely hung out with my friend any more.  In the meantime he has two good friends who moved in with him, all sharing expenses, all there for each other to hang out and work on projects or whatever.  Their house is trashed from end to end with clutter, but they're happy.

    Looking back, I feel I made a mistake by buying a place and moving out.  But that's based on my own life and my own situation.  Your life and situation is different, so you need to write down a very extensive list of the pros and cons and really think through your decision.

  • 2 months ago

    You probably don't have a choice.  Most places won't rent to someone whose income is low enough for rent to be 45% of it.

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