I am living with my mother in her home, but have today been offered a large two bedroom flat, which is a two minute walk from where I live now. I am trying to weigh up the pros and cons of the offer. The biggest pro, is that I will have my own space, which I can do what I want to, making it my ideal of a home. The biggest con, is that I am on a very small income, and adding up the weekly expenses, I realise I will be lucky if I am not in the red each week. At the moment, I pay half of my income to my mom, and therefore can manage financially. If I do move, I think I will quickly end up in debt. So, I would appreciate any advice as to what I should do.
Appears you have did your homework. You need to live comfortably and not struggle. Being on your own is wonderful but always stay within your budget and try not live beyond your means. I would save enough money to move out on my own and just in case something happens I have money to cover the bills. Or you could get a roommate to help balance things out so that you are not in the red and always in the green.
Ask any of your friend or known to become your roommate if you can share your space
I'm in agreement with AEvans on this one. Having a roommate to help financially is a practical idea. Also, if things go well, the relationship can always turn into a friendly one. While it's wonderful to have one's own space, it's also pleasant to share space with someone with whom one feels comfortable.
Good luck in the process. My husband and I just bought out first home and it's a sensational feeling. Hope it all works out for you.
I agree completely with the room mate idea.I think there does come a point in your life when you have to take the jump and become independent though. It's always nice to have the option to fall back on family when times get tough, but you don't want to live that way forever. No one does! I suggest meticulously going through a budget list. Do it a couple of times and put aside all the extras and make room for strictly rent and basic needs. Putting yourself on a budget and knowing how to find the balance of basic essentials and the essentials that "I just want" are key when thinking of getting your first flat! Also, are you renting or buying? That does make a difference on mortgages and everything else.
by Scott Bateman2 years ago
1. Track every expense.2. Save 20 to 50% of your income.3. Buy the smallest house you can tolerate.4. Buy only used Honda cars -- or none at all.5. Dedicate yourself to smart investing.
by Victoria Stephens6 years ago
Is it so wrong to always want to be the homemaker?I loved my life as a homemaker and a full time mum? due to finances, I've started back at work but miss it all so much.
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.