31, single male, making about 90k/year right now. I get an annuity & pension from work, contribute 15% of my paycheck to a 401k and trying to max out my Roth IRA each year (just started doing this this year), only debt is car with about $10,000 left. I moved back home last June when the pandemic was happening. I would really like to move out again on my own and have tried to make a date of April/May to do that (i do realize if i decide to wait and buy a house this would be longer). I'm living rent free right now as my mother wants me to save for a down payment. Right now I have $25,000 in my savings for an E-fund and down payment (I had another $10,000 in this but paid my student loans off when i moved home, ). With an e-fund of about $10,000, that would leave me with only $15,000 for a down payment and closing costs. I'm looking for a house around 250K-300K but those are really hard to find where I live (suburbs of Boston). Living at home has been easy but I yearn for living on my own again. Rent in my area is around $1800/mo. Should I just go back to renting for another year or 2 and I get more of a down payment? I know I could live at home and save even more but I really would like to live on my own again, especially as a single 31-year old guy.
Submitted February 28, 2021 at 06:51PM by CraigM120 https://ift.tt/2NLsbFK
