It sounds like you have been really excited about saving up to move out on your own! If I were you, I would absolutely do it. It feels great to achieve that independence, especially before you make a big leap like buying a house with your man. I say go for it 100%.

However since money is always an issue, just make sure you don't spend your savings on an apartment. Your rent payment should fit into your monthly budget and if it doesn't that's not good. You can find lots of apt. furnishings really cheap online and through hand-me-downs which will save you money as well.

Also, I don't know where you live, but the rent vs buy model your boyfriend is referencing breaks down incredibly quickly under many circumstances. It is not always better to buy. If he tries to convince you that is not true, then message me and I will explain more. I started to explain it here but it got too wordy

Good luck - let us know how it goes...

Buy a house or a condo on your own. Live it and do it for a year - you never know what can change...

I used eloan.com for my lender and bought for the first time two months ago.

I agree with popgoestheworld. Having your own place and finally being able to be independent is a wonderful feeling, so why would you want to wait maybe 5 to 10 years more to be on your own? Seriously, think about the amount you must have in savings just to pay the down payment on a house. It's absolutely insane. It's YOUR life, you live it how you want to, regardless if your bf agrees with you or not.

And on another note, I wouldn't even think about buying a house with him unless there's a ring on your finger.

I'm against renting since you technically are "wasting" money and throwing it away to something that won't be yours after the lease ends, however, moving out on your own is a very good idea. It will be a learning experience of the things that you didn't know you need improvements on. It's best to have this trial period of being on your own to get things in order before moving onto purchasing a house.

renting for a shorter period of time, in my opinion, isn't a waste of money. if you do it for years and years, then, yes, it's definately not worth it. before i bought my first house, i lived by myself for the first time without anyone living there but me and it was the best experience ever. give yourself a year or more to live alone and by the end of that, you'll have a clearer idea of what you want. good luck!

i say definitely go out and rent on your own- you definitely need the experience of living on your own. i agree with popgoestheworld, make sure your montly rent fits into your budget- you definitely do not want to tap into your savings.

DEFINITELY move out and live on your own- I had wanted to do it for so long- and when I finally did I LOVED IT. I dont even care to write the rent check every month- becuase I know its what I wanted- and I finally have it!

why don't you look into buying a modest apartment somewhere? You don't say what city you live but I know in most parts of the country one can always find something they can afford. It might not be your ideal place to live, but it's a start.
Consider renting only as a last resort. At the end of the day all you're doing is throwing that money out. If you have no other option but to rent then make sure you're not spending a big chunk of your income on it... View your renting period as a time to save as much as possible so you can buy something ASAP
Good Luck!

i'm 26 and just bought a condo i lived out for a bit after school and came home till i got the real job and starting saving. not sure if the same in your area but my mortgage is just a little more than rent and it is all mine! the owning comes with added pros and cons - i can paint it whatever, put whatever floors bathroom fixtures etc. cons no one in the complex to come fix the leaky toliet or the dishwasher etc. stupid stuff like that but living out on my own is great!

I don't agree with your boyfriend, if you rented you'd be able to build up the basics... furniture, cutlery... etc, so that when you eventually do buy a house together you'll have all the bits and pieces. Besides which you'll get that sense of confidence that comes from living alone. I too didn't move out till I was 24 years old, but renting was the best option so I did. It mightn't be an investment in wealth, but it would be an investment in your self confidence.

I would say to rent your own place first or buy you a a cheap townhome(without the boyfriend). You have never been on your own and I think you need to experience your own place and freedom first. They do have some rent to owns maybe check into something like that.

I would not buy a house with my boyfriend. I would wait a couple years and when you were MARRIED I would get a house. Things could not work out between you and then you are stuck trying to find something else and splitting it with the boyfriend.

Girl, you are 25! Take it slow and easy. First off, most of my friends who've bought a place with someone they're not married to live to completely regret it. think about breaking up, only you'll have way more baggage to deal with...like selling the place!
Second, if you have the desire to live by yourself and see what it's like, DO IT! Typically it is better to own than rent, but not always. you may not be ready to own a place and deal with the permanance of that, and all of the stuff that comes with home ownership. hey, when your AC or fridge goes out, no landlord comes to replace it. guess who does...you!
I bought my first place this March at 28. When I look back, I realize how stable I FELT at 25, but really there were so many more experiences left to have. Everybody's differnt. I'm not saying you're immature, but the best advice I can give is not to rush yourself. and no matter how much you trust your boyfriend, don't get financially bound to him before you're married. believe me, a lot of stuff is going to change between 25 and 30, relationships especially!

I just wanted to say that I'm glad this question was brought up. I'm also 25 and I want to live on my own soon. Reading these comments has been helpful! I can't wait to hear more.

I feel that I should chime in here since I work in real estate. In terms of rent vs. buy, it completely depends on your situation hon. And no, I am not avoiding the question. Each person has a different financial situation that helps determine the best course of action for them. Long term renting usually doesn't make much sense, especially if your rent payment is virtually the same as a mortgage payment. However, taking the time to rent can help you save up the money for a down payment or emergency fund, plus it helps you learn what you want in a home of your own.

You want to move out and be independent, so do it! I wouldn't advise buying something if you only plan to be there 1 to 2 years. (Not in this current market anyway.) So find a great apartment that fits your budget and tell your boyfriend that right now the benefits of living on your own outweight the benefits of being a homeowner. Tell him you may consider buying with him in the future if you have a solid relationship and a high level of commitment. (Personally I would never buy or live with someone I wasn't married to, but that is me and not you.)

You will never know who you are or who you want to be unless you take the steps to be more independent. Good luck!

I agree with KrisSugar -- take things slowly while you are learning what it's like to be on your own.

Something that has proven to be helpful to me in finding rentals is to spend no more than 1/4 of your monthly salary on your apartment. It leaves room for other bills, savings, student loans, etc. Good luck!

renting can be a huge waste of money, but i think it all depends on the situation.... but if you have the option to OWN a house and you know that you want to live in that city for the rest of your life .... well not exactly the rest you can sell the house, and the equity you would get off the house in most cases would be pretty good... since the value of a house never really goes down... soo i guess what im trying to say with all this bable... is that i would rather BUY a house ... cuz you know in the end its going to be worth something, then just give someone else your money... cuz if all else fails you can sell the house, and probably make some money off of it!

DO NOT buy with the boyfriend. If it doesnt work out it would be a total nightmare to try to split everything up. I firmly believe everyone should live on their own for a while. I made the mistake of getting an apt with my bf after my roommate got pregnant and was going to move in with her bf. It was terrible and it didnt work out, but the best thing to come of it was after I kicked him out I had an apt all to myself. I thought I would be lonely but I really wasnt- and I swore that I wouldnt move in with another guy until I was getting married. And thats exactly what I did.
Living on your own is awesome and exciting- I strongly encourage you to NOT buy a house with the bf- since you have never lived on your own before, dont you want to have something that is just yours? and stable renting IS good for your credit score.

I agree with popgoestheworld. Also, i know a lot of people now who say to me, they wished they had lived on their own before getting married, etc.

I love it. The independence is amazing, and you get to know who you are! also, i ams ure your fam and friends are excited you are getting your own place, so have a housewarming party! Go and register for stuff you need (i suggest places like target where everyone can afford to buy) and sit back and collect! then, rent what you can afford, and be happy with it! you def dont' want to leave yourself freaking out everymonth with an unimaginable rent payment.

It is sweet your boyf wants to move in a house with you, but, are you going to stay where you are living now? you shouldn't by unless you are gonig to stay put a while, at least to put some equity in thehouse. that way when you sell you dont' lose money.

Home ownership is nice, but it has it's downside too. If you cannot make enough of a down payment you have mortgage insurance. Then there's maintenance, associationg fees, property taxes, upkeep, emergency repairs at 1am because your pipes burst and you have to pay some plumber $110 / hr to come fix it in the bowels of your house's crawlspace... it can be costly and time consuming. Condos can eliminate some of that with their associations, but there are fees involved there too. Renting - to get your feet wet in the realm of living on your own - has none of that. If your toilet leaks or your dishwasher stops washing effectively you simply call your landlord.

Robert Kiyosaki, from Rich Dad Poor Dad, says a home is the biggest liability you could ever have. So there are varying points of views out there, but as bfly1133 has said, it depends upon your sitation. Personally, we don't rent and own our own home, so we have that liability that Robert talked about, but we're okay with that and absolutely love our home.

On the other side of the coin... Why should you wait for him to be ready to buy a house with you? Why not get a bigger apartment together if he wants to live with you? Or just get your own, if you want your independence.

Lots and lots of misconceptions here.

Anyone who has the knee jerk reaction that renting is just throwing away money just doesn't understand the complexities of the rent vs buy decision, or they are making huge assumptions about the market and a person's financial situation.

And also, for crying out loud, of course you can lose money on a house, and the value of houses does indeed go down.

Have you been watching the news? Thousands of people who had ARMs were counting on the market continuing to skyrocket and making a tidy profit on their place. As soon as their rate went up, they started defaulting on payments. And the market is slow so they can't sell their place at all, let alone for as much as they thought they would 5 years ago. Thousands of homes are in foreclosure.

Look, if you and your boyfriend were planning on staying in the same house for 30 years, maybe you should buy. But considering you aren't married, you've never even lived on your own, and neither of you can afford to keep a house on your own, you should rent.

agreed 100% with popgoestheworld - it compeltely depends not only on the market but that persons financial situations. i vote move out, and if he doesn't like it he can go to h-e-double-hockey-sticks. he wants you to put your dream on hold for years so that he can realize his dream? makes no sense to me. another compromise might be to move out with roommates. you then get the experience of paying bills and "nesting" with some financial assistance. unless your sole reason for moving out is to be absolutely alone in an apartment, then it might be a good option for you.

it's your money, so you should do what you want. I personally found that the thousand dollars a month i was paying for an apartment and utilities was totally worth paying in exchange for being on my own.

I think it is always a wise move to live by yourself or with girlfriends before moving in with the boyfriend. I have always been told that rent is not a waste of money, because you have to live somewhere. Now in your case, you have a place to live rent free, but you also want to gain the independence you lack currently. I would say try to get an apartment with a short term lease, say 6 months, with an option to extend. Life is unpredictable, you don't know where you are going to be in a year, or where your relationship will lead. However if you move out now and experience what living on your own is like, it will make living with a boyfriend that much easier in the future. I just moved in with my bf and heard from many friends how things were going to change after moving in together. Boy were they right. I think it is important that you get out there and have a great time living on your own, having all your own stuff and experience life. Good luck and keep us posted!

Renting is not necessarily "throwing your money away." It doesn't make sense to rent long-term if you can afford to buy your own place, but since you haven't lived alone yet, I think you should rent a place for a year or so. See what living alone is like before you buy a place. And enjoy living by yourself and discovering what YOU like. It's a great thing and you'll have a wonderful time.

I'll second and third the advice to NOT buy a place with your boyfriend until you two are married or solidly committed. I have friends who have bought houses with their boyfriends or girlfriends, and while it's worked out for some, others are in the stressful position of having to sell the house (or buy the other person out) after breaking up. I'm actually not a super-traditional girl—I don't think everyone NEEDS to be married in this world—but I personally won't buy a place with someone else unless we're married.

Sounds to me like you've been pretty excited about moving out on your own for quite awhile now. And honestly, if you were to wait for your boyfriend you wouldn't exactly be living by your own rules, your own furniture, your own life while building your credit score, now would you. You wouldn't be doing that at all. I think it's a wonderful idea, especially at your age, to move out on your own. I think it can be a positive life changing experience if you let it be. Make sure you move somewhere within your monthly budget and enjoy every minute of it! And I highly discourage you from buying any property with your boyfriend or anyone for that matter. I feel that homeownership is a financial venture to make with a all on your own or with a spouse. Ask around before making that decision. And good luck!

Depending on where you live, I don't think renting is a bad idea. When buying a house, you have to also consider the out-of-pocket expense for maintenance, and anything else that may pop up. If you rent, all you have to do is call the landlord to have it fixed with no additional money leaving your pocket. Another pro about apartment living: you can still save money to buy a new home later on down the road.
You have to also consider what you want personally. If you want to live on your own for a year or two, discuss your feelings with your boyfriend. Does he support your decisions? Perhaps you can tell him you want to try living on your own for a while, continue to save money, and get a house together later.
Whatever your decision may be, I hope it will bring you happiness. Good luck!

I don't think renting when you can't afford a mortgage on your own is a bad idea.

I THINK LIVING ON YOUR OWN IS A GREAT IDEA!!! Go for it. Experience life at your own pace and learn to juggle the finances that go along with it. It will only help you when you do own a house - the finances get tighter when you have to pay someone to fix the toilet, mow the grass, etc. Plus you get great amenities like a pool, workout room, maybe even a movie theater.

Apartment living is great for singles in their twenties. Try to find a location that has people your age and go meet your neighbors. I met my boyfriend through a neighbor!

Apartments can't tell you the ages of people that live there (it is illegal) but if you drive through on your own after work and check out people at the mailboxes. Also go over the weekend, check out who is at the pool, gym or out on their patios.

Good Luck!

Move out, and spread your wings. I would recommend buying if possible, but if not possible due to $, rent for atleast a year just for the experience.

The money that you will spend on rent is completely worth the experience of being on your own for the first time. You will be able to be out on your own without the responsibility of having to maintain the property where you live. Dishwasher breaks? Call maintenance. Have a problem? Contact your landlord. Owning may be better for long term, but renting is infinitely simpler and a great way to experience living on your own for the first time!

Never Never Never go in on an investment like that with a boyfriend/girlfriend unless you got that ring and a date set

Moving out and living by myself was WORTH every single penny i paid in rent.

I think you should move out on your own before you get married. it's exhilerating to decorate your own space and to FINALLY live on your own. you don't know for sure that you'll be with your boyfriend in a few years when you both have the money to get a house. thats what loans are for. move out and live in an apartment that you absolutely love. spend money to make your apartment your home.

dammet. i meant exhilarating. oops.

I vote that you take the leap and rent for a year! Living on your own is exciting and fun, and it really gives you a sense of who you are. In a year, if you and your boyfriend still want to move in together, you'll have built up some credit and will be able to afford an even better house!