Roommates can be a great thing when you are trying to save on expenses, but isn’t there a certain point where it makes sense to move on?
This question can really vary by location and finances.
Location affects roommate situation
In certain areas of the country, people tend to get married earlier than other parts.
It may be worth taking these factors into consideration when deciding on having a roommate or not.
If you live in an area where people tend to get married earlier in life than having a roommate at an older age may carry an unfair stigma.
In Chatanooga, TN it might not be uncommon for people to get married in their early 20’s where NYC renters are waiting until their early 30’s to get married.
Consider your location if you’re deciding you may be too old to have a roommate.
Finances affect roommate situation
Your finances are obviously the most important indicator of if you should have a roommate or not.
Most landlords run a rent to income ratio calculation when they consider a tenant’s debts and income.
A simple way to calculate this is that your income should be at least three times your monthly rent.
If your rent is $1,000 then your monthly gross income should be $3,000.
In this example, if your gross monthly income is considerably less than $3,000 you may want to consider having a roommate.
You might feel too old to have a roommate but that doesn’t mean you can afford to live on your own.
Lifestyle affects the roommate decision
Understanding what type of personality and lifestyle you lead is important in assessing your final decision.
If you’re a homebody who prefers peace and quiet then you may want to lean towards not having a roommate.
If you’re someone who craves conversation and human interaction than it might be easier to lean towards keeping a roommate.
Understanding who you are and having an honest assessment of your personality will help you to decide on whether to have a roommate or not.