Many young adults are facing this question after they graduate. Should you move back to your parents’ house in Chicago after college or not, becomes a burning question. Sometimes, the expenses of being independent are hard to cover. Sometimes they are just not justified enough. This gets particularly obvious during times of recession. Even though our society often represents this as a sign of weakness, from an economical point of view, it’s can be a smart choice. On the other side, fresh graduates, that don’t have the same financial problems, don’t run away from renting. On the contrary. It gives them the opportunity to practice their independence and work on their individual goals.
Move back to your parents’ house in Chicago or rent
In a way, this is not a fair comparison because it mostly depends on the economic situation. In the ideal world, the choice would be simply based on emotional elements and preferences. But in reality, the finances are what makes the wheels roll. The simple choice of being a “boomerang generation” or “independence chaser” doesn’t always depend on you. And, there are no firm rules here as well, since the situation is changing from year to year. The best option you have here is to think carefully and do what is best considering the circumstances.
Plan both scenarios
In both cases, you have to be ready. If you decide to move back to your parents’ house, try to make the best of it. In essence, talk with them and see what their opinion is. You may stop being a child at 18, but you don’t stop being their child. If you are going for renting, start with more affordable options at first. Carefully pick the neighborhood before you make a decision. Before the transportation of bulky household items, you will want to make sure there is enough space for everything. If not, consider either a bigger place, if you can afford it, or alternative storage options.
Think about where you are standing
As a graduate, you are probably not exactly in a good financial situation. Many graduates have large student loans they need to pay back. If you are lucky enough to hit a high salary job, renting might be a good option. But, if that’s not the case, you need an alternative plan. This is when moving back to parents’ house is a viable option. In either case, it’s time to properly plan your relocation. Look for movers online starting with Golans Moving and Storage, since this company has plenty of experience and knows the Chicago area well. After the move, continue to work on self-improvement and immediately start chasing a career.
Moving to parents’ house vs renting
In general, both of these options have pros and cons you should be aware of. Consider them when making your plans.
- Renting will require money, which might not be the case with your parents’ house.
- The cost of living and general expenses are less with your parents.
- With parents, you have a better chance to save money.
- More time to concentrate on finding a job if parents take care of you.
- Your family is close if you live with them
- With renting, you have more privacy
- You make your own rules as a tenant
- Depending on your parents, your personal life might be different
- Security versus independence
Establishing your independence is not something you should take lightly. Neither you need to rush to accomplish it. In essence, you just finished college, so you shouldn’t lose confidence because you are a capable individual. Sometimes, it just needs more time for everything to click. Should you move back to your parents’ house in Chicago after college or rent your own place? The true answer lies in the necessity to play smart moves. So, whichever choice you make, make it count as a long-term plan.