ChiSquare1963 t1_iugriby wrote on October 31, 2022 at 5:12 AM

Reply to comment by disposable_tree in Thinking of Moving Out, But Looking for Advice by disposable_tree

A homebuyers program designed to help teachers and emergency workers buy in the community where they work is a great benefit. Good luck with it!

It sounds like renting a place may be good for your mental health and relationship with your family. You might consider sharing a place to save on rent. In my 20s, I rented a 3 BR, 2bath with a colleague. We set up the 3rd BR as a sitting room.

Emergency fund? Three months expenses is bare minimum, acceptable for someone with a stable job in a field that rarely has layoffs. The biggest emergency most people face is loss of job, so you want enough to keep bills paid while job hunting. For most people, six months expenses is about right. With dependents or in a field where it’s more difficult to find work, you could need more.

disposable_tree OP t1_iugsk2k wrote on October 31, 2022 at 5:25 AM

Thank you! I’m hoping that it would work out where we would be able to purchase our first home like that. It’s definitely a great opportunity if it works out like that.

Ideally, we always could try to find roommate(s) but there’s always that fear of ruining a friendship or something, so I personally am quite hesitant but the idea of saving so much on rent is so tempting. It’s definitely something I could consider but I’m not sure he would go for it.

As for that emergency fund, I’ll definitely get to working on that three month reserve to start. Overall, we have relatively safe jobs as he’s in medical supplies/ems/fire and I work in corporate baking/lending. I do think my job carries the higher risk but I’m not a hedge or anything quite as volatile.

Thank you again! I appreciate your advice!