The Student Room Group

Is moving back in with parents a good option?

My boyfriend and I moved into a flat a year ago ( rented)

It’s £1200 a month which is actually a good deal in the grand scheme of things and we do have money left over each month but it would take AGES to save for our own house.

My parents are so close to us and they’d love to have us back - rent free to save for a deposit. We’d just need to pay for bills ( no council tax) and some food but I know what my mums like and she is likely to buy the majority.

Is this a good option in terms of wanting to save for a deposit? We would save a lot I reckon
Reply 1
How much do you need for a deposit?
Original post by Amydesigns1104
My boyfriend and I moved into a flat a year ago ( rented)

It’s £1200 a month which is actually a good deal in the grand scheme of things and we do have money left over each month but it would take AGES to save for our own house.

My parents are so close to us and they’d love to have us back - rent free to save for a deposit. We’d just need to pay for bills ( no council tax) and some food but I know what my mums like and she is likely to buy the majority.

Is this a good option in terms of wanting to save for a deposit? We would save a lot I reckon

Well you have to consider what mortgage you could get, the deposit you need, type of house you are looking for, how much you would actually save and if you and a partner actually want to live with your parents for a potentially long time.
Original post by flamingolover
Well you have to consider what mortgage you could get, the deposit you need, type of house you are looking for, how much you would actually save and if you and a partner actually want to live with your parents for a potentially long time.


Probably a £35K deposit to buy our own flat but we’re both on decent salaries and get good bonuses so realistically we could probably save for this in two years / 2 and a half years
Original post by Amydesigns1104
Probably a £35K deposit to buy our own flat but we’re both on decent salaries and get good bonuses so realistically we could probably save for this in two years / 2 and a half years


Id move back in with your parents. That way you can save up for your own place a lot quicker than you would be carrying on renting. As long as your parents are ok with you moving back in then go for it.
Original post by Amydesigns1104
My boyfriend and I moved into a flat a year ago ( rented)

It’s £1200 a month which is actually a good deal in the grand scheme of things and we do have money left over each month but it would take AGES to save for our own house.

My parents are so close to us and they’d love to have us back - rent free to save for a deposit. We’d just need to pay for bills ( no council tax) and some food but I know what my mums like and she is likely to buy the majority.

Is this a good option in terms of wanting to save for a deposit? We would save a lot I reckon


Yes
(edited 9 months ago)

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