I currently live with my grandma and pay $500 in rent while also handling most of her errands—shopping, medical appointments, and transportation since she doesn’t drive. Her son lives with us too but hasn’t been contributing financially.
She’s retiring soon and plans to raise my rent to $1,000. He claims he’ll start paying as well, but given his history, I have my doubts.
I make $52K a year ($60K with bonuses) and have $10K in savings. My long-term goal is to buy a 4-bedroom, 2-bath home where my mom and sibling could move in and help with expenses. Right now, my total monthly costs (rent, car, and other expenses) are about $900, but I could cut back with a stricter budget.
I’m debating two options:
Stay with my grandma, pay $1,000/month, and aggressively save for a house.
Move into an apartment for $1,200–$1,300/month, gain more independence, and still save for a home.
Would staying help me save faster, or would moving out be the better long-term move?
This is as much a family issue as it is financial. If you’re doing all the errands, handling transportation, and paying more rent, you’re not really saving much. It’s a tough call, but your independence might be worth the extra cost.
You’re already handling so much for your grandma, and now she wants to double your rent? I’d have a talk with her and explain that if you have to pay that much, you won’t have time to help as much because you’ll need to work more. If she still insists, it might be time to move out.
Moving out means gaining independence, and that’s worth a lot. If you leave, she not only loses your rent, but she also loses all the help you provide. That might make her reconsider.