Moving out of home
Hi everyone! Im a 23F, working as an RN, making $100k annually and have 110K in savings. I need to move out of my parent’s home due to significant issues amongst the family I need to get away from. They do not support my decision and get verbally and physically aggressive and threatening when I bring up. They are also psychologically manipulative and say things that make me guilty about moving out.
I hope to buy my first home early next year. I will be buying this home alone with no support from anyone. I have no kids or pets. My only financial costs at present are groceries, gym membership, subscriptions, bills, and other essentials like clothes or entertainment like books which I get from op shops.
I’m looking to buy within 50km of the Melbourne CBD as I work in the CBD and my social network is around the area. However, I’m conflicted on whether I should buy or rent.
I have hopes to move interstate within the next 5 years because I want to pursue a specific career opportunity- but this is not guaranteed- meaning I may never move interstate. That’s one of the reasons why I want to buy instead of rent because I may indeed stay in Melbourne.
I’m hesitant about renting because I have the mindset (whether good or bad) that I’m ’losing money’ by renting.
The reason I’m posting this here is to get any advice from those who had a difficult time moving out of home and whether it’s more responsible to rent right now and save for a possible move interstate? Could it be a financially damaging thing to buy and sell a home in 1-2yrs? Do you think I’m in a good place financially to consider buying? I really want to leave my parents home but also know staying at home means less costs and more savings.
What are your thoughts? Any input is much appreciated! 🫶