Are you wanting to look for new homes in Pittsburgh but are stuck living at home because you don’t have enough money to move out on your own? Or, if you are a parent with a child who is no longer a child but still living at home, Parry Custom Homes has a budget strategy that can help both put a plan in place for the next chapter in life.
Did you know that according to the U.S. Census Bureau, 30 percent of people between 18 and 34 years of age still live at home with their parents? This ends up being about 42.2 million people. Another shocking number is that most of this number are college-educated adults.
It may be hard to believe, but more people are living with their parents now than there were in the recession. Many of those still living at home might be doing so to be bill-free and simply because they aren’t interested on branching off onto their own yet. However, for many still living at home, the desire is there to move out but financially it might not be plausible. However, with one budgeting trick, you or your child can be on your way to living independently sooner than you both may think.
Many parents don’t charge their children rent while living at home, in hopes that they will be able to actually save money living at home. The one simple trick is to start paying “rent” at your parents home. This not only allows you to get accustomed to start paying for a mortgage but also will allow you to builds a substantial savings account over the period of months.
Either setup a savings account or have your parents deposit your check into a separate savings account for you each month, which will, in the end, become the savings pot you can pay for your new home. This will also help you see what is an affordable mortgage for you to pay and comfortably live next month. You can even take it one step further and pay into utilities, cable, cell phones and so on to get a true feel for where your money goes each month and what you have to live off of.
Parry Custom Homes is an established homebuilder in the Pittsburgh area. Call or contact us today for more information about this floor plan option, or to view other homes in our portfolio that may suit your new home needs.