Less people are able to become homeowners right out of school than in generations past. The financial burdens that come with higher education, cost of living, and underemployment keep more and more people at home with their parents for longer. That being the case, it can be stressful to figure out when it makes sense to become more financially independent.

So, when is the right time to move out?

It will be different for everyone, but experts agree on a few key items to prioritize:


Have you been job-hopping a lot, or have you been somewhere steadily for a few years? Having a consistent paycheck you can count on week to week will make it easier to establish a realistic budget around your rent/mortgage payments.


You need to be prepared for whatever the future holds, so saving up a buffer for emergencies is recommended. The Balance suggests up to 3 – 6 months’ living expenses as a safety net.


Have you established a steady rhythm of paying regularly? Doing so shows that you’re earning enough to afford a little more financial independence than you currently have.

If you’re still trying to pay down the interest on a huge loan, it might be worth prioritizing that beast before making any other big financial changes.


Being sick of living at home without the advantage of more financial stability might not be the right motivation to move out. Seeking more financial independence on top of an already-amazing budget and healthy spending regimen is the way to go!

Are you looking to become a homeowner? Start our online application for a digital mortgage now or contact us to get a free rate quote. We look forward to getting your future started as soon as we can.


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