<p>Just wondering; this summer term I had a banking intership (full-time hours) and it has, to date, been my highest-paying stint thus far (I'm 22 years old). Still, I "only" made enough money pay off this coming school year's tuition fee without having to take out loans. I live in Canada, so I presume internship pay isn't as high here as it is in the US. (I didn't even make enough to have any money left over for moving out/renting a place -- I'm currently living in my parent's basement and will have to continue to do so for probably a long time.) </p>
<p>What I want to know is, with the current state of the economy as it is, combined with the cultural Western mantra of having to move out "as soon as possible" (many of my friends have moved out of their parents' house permanently ever since they were 18 or 19), how do 20-somethings/college graduates manage to afford everything? I know the majority probably take out loans to fund everything (and thus have humongous loans after graduating), but with all the tuition, rent, and other expenses from being on their own financially, HOW LONG does it take for them to purchase their first property?</p>
<p>I'm asking because my parents have been trying to pressure me into NOT moving out of their house until I'm at least 30 years old (which is plainly ridiculous because I value my independence, and because they only want to keep me around for their own benefit seeing as they control my eating, sleeping, and social habits in addition to the plethora of chores they task me with -- which gives them a twisted power trip). </p>
<p>So naturally, I'm planning on moving out much earlier and as soon as possible when I can find a decent job that pays a liveable wage after graduating next year. However, one of my parents' argument points really got to me, and that is that if I move out earlier and thus pay monthly rent payments (rent is $1500 for a studio apartment in my expensive city, and around $550-$600 for a room in a house shared by a family or other roommates), it'll take me several more years to be able to save up enough to purchase my first property (because all that money I could have saved for my first property is instead going to monthly rent payments). </p>
<p>So, my parents want to keep me here until I can afford my first property (which sounds reasonable, but their insane controlling ways drives me up walls and my physical health even suffers). I, on the other hand, want to move out as soon as possible regardless of the rent expenses I'll have to pay, and I honestly don't even care if I cannot afford to purchase my own property until I'm 40 years old -- I just want to start living my own life asap. </p>
<p>Is this a wise thing for me to do? (That is, move out sooner and delay the purchase of property?)
Or should I stay at home until I can afford my own property, saving myself from having to "waste" my money on some landlord? (But this could take a very long time, as I'm a Humanities major, and finding a decent-paying job with my degree could be very difficult.)</p>
<p>...And how do other college graduates/young adults (who are living on their own and paying their own rent) do it? Do they make the conscious decision to delay purchasing property?</p>