I'm self-employed living in eastern MA, and housing is really expensive around here. I probably make around $8k in any given month. My car is paid off, I have 20k in undergrad loans, and I have another $20k of grad school classes to pay in the next year and a half.
My relationship recently ended so I'm moving out. We were paying about $1400 each. Most 1 bed 1 baths I'm looking at are in the $2400+ range. I have seen one or two for $2200.
Do I become house poor and put myself in a financially risky position if I go renting for $2200? It seems like a heavy responsibility to take on right away, but I also don't want to get too comfortable living at home if I move back in. Seems like the real way forward and growth is to immediate start renting out, but I know it would be beneficial for my parents if I did move back and helped out financially a bit.
Any suggestions?
original posted by personalfithrow1 to r/personalfinance on Mon, 11 Mar 2024 15:15:51 GMT.