Most people wouldn’t be excited to declare to the world they are living with parents. Ironically, it’s the calling card for financial distress in our society while possibly being one of the clearest pathways to financial freedom.

Between moving out of our house in Hoffman Estates and heading west to our new temporary address in Steamboat Springs, we’ve been at mom and dad Bowman’s for about 8 weeks. And we wish it could be a bit longer…

When we tell people we’re living with parents, they usually say, “Wow – I could never do that!”

We probably could have lived with either set of parents and we actually did before we bought our last house. Maybe our parents are that cool or we’re just easy-going – probably a little of both.

For us, living with parents has made a ton of sense for a lot of reasons.

  • No mortgage – We’ve had and will have a bunch of expenses in moving so it’s been nice to take a little break from the mortgage and Illinois property taxes
  • Lower home expenses – You don’t realize the cost of owning a home until you’re in or out of one. The home depot runs, utility bills, insurance, repairs, and everything else tallies up to be the biggest line on most budgets. You may think your house is an asset but listen to Robert Kiyosaki who says your home is the biggest liability for most families. Not having a money pit to call our own has been welcomed even if only for a short time.
  • Shared space – Most American families could easily fit another family comfortably in their home, and my parents are no exception as empty-nesters. Roofs and walls are just as effective with double the number of people inside so it makes sense to share them – not to mention outside space, washer/dryer, and more. There have been a lot of studies that show we use less than half of our homes on a regular basis. What would a heat map of your home usage look like?
  • Splitting Cooking Responsibilities – Pictures this: you get to eat the same amount of meals as usual but you only have to cook half the time!
  • Quality time – We’ve always lived close to parents but being 15 steps away is a bit more intimate than the 15 minute drive we had before. These several weeks in close proximity have been a special time for us to spend with parents. And it’s been an irreplaceable time for our girls to bond with grandma and grandpa.

We’ve also had a few important realizations living in Roselle. We’ve never been fans of nurturing the outside space at our houses and might even prefer a townhouse with no outside maintenance for our next house. Enjoying my parents outside space and watching them work the land makes us appreciate outside space a bit more and might influence the home we look for in Colorado. I said might.

Living close to extended family in the Roselle area has been great too. We’ve always thought we’d end up in the area long term and being there for a while has confirmed the reasons we have that desire.

This post should be published on a Tuesday, and we’ll be packing up the the car this week and heading West by Friday. As of now, the plan is to rent a place in Steamboat Springs for 45 days while looking for a longer term home.

Buckle up. Things are about to get interesting…