Where to Live After Graduating College

For many soon-to-be collegiate alumni, one of the biggest questions is, "Where can I live after college?" The truth is, this is not as hard of a question to answer as it may seem. For many new college graduates, career opportunities and financial situations have a heavy influence in the decision making process. Long before you are tossing your cap in the air, you should be carefully weighing your options. There is a big difference for most people between how they want to live, and how they can live. Although the process is a little bit give and take, you can find a happy medium to satisfy your post-graduation living needs.

By far, the most cost effective housing option is to move back home. Moving back in with mom and dad is a great way to start saving money. According to the National Center for Education Statistics, the average cost of a 4 year university in 2005-06 was over 17,000 dollars. With college costs still rising, it is not hard to accumulate large amounts of debt from student loans. Living at home after graduation is an easy way to get your feet on the ground and start paying down those student loans. Even if your parents request that you pay rent, it is likely to be much less than you would pay anywhere else. Anyway, who can complain with home-cooked meals, family, and friends there when you need them.

With a little money saved up, you may be ready to move into your very own apartment. Some people choose this option directly out of college. If you aren't ready to live on your own, you could always move into a shared apartment with one or more roommates. Finding an apartment is a fairly simple task. Finding the right apartment is a different story. If you would like to live in a certain area, checking local newspapers for wanted ads is a good idea. Often people will post ads seeking roommates to help cut down on rent costs. Sure it will be like living in the college dorms again, but this time you will probably have your own room so it doesn't really matter how often (or seldom) your roommate showers. Sharing an apartment is a good idea if you have to live on a budget because the more people you have splitting the rent, the cheaper it will be. If you feel ready to live on your own, an internet search for apartments in your area can prove to be fruitful. Searching online is a good way to find apartments, compare costs, and read reviews. Studio apartments are a good idea if you find that a regular, 1-bedroom apartment is too costly. Keep in mind that usually, with apartments, you get what you pay for.

Another smart option for college grads is to invest in some kind of permanent housing. Mobile homes are a good way to start investing in something that can be resold later, sometimes even for a profit. This option may require taking out another loan for the initial purchase. However, depending on the cost of the home, the payments on that loan can be as much as, or less than the rent you might pay in an apartment. Instead of giving your money to a landlord, you can put it toward a home and have something to show for it in the end.

Then, of course, there are the college graduates that are lucky enough to get a job offer right out of the gate. When this is the case, you should probably choose whatever housing is best suited for your budding career. Good factors to consider are cost, location, and permanence. Depending on how much you will earn from your new job, your own willingness to commute, and how long you can expect to have your job, you can choose from any of the options available. You are even in the unique position to purchase a home. This situation will most likely give you the most freedom between the housing options.

After you graduate, where you live depends on you. You have to consider your wants, your needs, and your cans.... not those cans. Take some time to consider your situation and finding a place to live shouldn't be much of a problem.