Is renting really that bad? I’m Sixteen, and I’m wanting to move out in 18 months due to a shitty home situation.

Just as taxes and death are unavoidable in life, so is paying paying for housing. At the high end you have your own real estate - this costs the most to acquire AND maintain in terms of money and time but also has the most monetary value in refinancing, selling, or renting out to others. At the middle level you have renting - this is less expensive to acquire than a house/condo and requires no maintenance as it is the owner's responsibility. Then at the low end you have living with parents - you're already there but it's "costing" you in independence, chores, or even helping to chip in with bills. The benefit of that is that it's the cheapest financially and gives you more spending and investment money.

Renting is "bad" in the sense that the money to put toward housing isn't an investment in some equity - i.e. real estate that you can refinance or sell.

Renting is "good" in the sense of you don't need to do any maintenance (besides cleaning your own apt.) to the place you're living in.

What's the best option for you depends on your personal circumstances. I was able to live with my parents until my mid 20s until I secured a well paying job and made it past the year long probation status. This allowed me to have have the money to go out with my friends (thus spending less time at home) and eventually save up and with parents' help buy my own real estate.

Again, it depends on your personal circumstances. From a financial point of view - it's better to live at home as long as possible to secure your income and make earlier or bigger investments than normally you'd be able to do if you moved out. From an emotional point of view - if life at home is so unbearable (no judgement) then minimize the time spent there; go out more, go volunteer, go work, and finally move out with roommates or independently if you can afford it.

/r/RealEstate Thread