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- I moved in with my parents at 24 to avoid rent in one of the most expensive areas in the US. It saves me $3000 a month. (businessinsider.com)
Bay Area Entrepreneur Finds Success (and Fun!) Living Back Home with Parents
For many recent college graduates, the idea of moving back into their childhood bedroom might conjure images of youthful angst and stifled independence. But for 24-year-old Amrita Bhasin, a Bay Area native and CEO of supply chain AI company Sotira, it’s been a surprisingly strategic move that’s propelled her career, boosted her savings, and even strengthened family bonds.
After graduating from college, Bhasin initially ventured to Maine to launch her startup. However, the high cost of rent in the Northeast, coupled with frequent work travel that left her apartment often empty, prompted a re-evaluation. “It made sense to move back home temporarily, from a career and financial perspective,” Bhasin explained.
Dodging Astronomical Rent While Building a Business
The Bay Area, with its robust investor community, was the ideal location for Bhasin to grow her software company. However, the region’s notoriously high rent prices were a significant deterrent.
“Friends of mine who were renting their own place were paying up to $3,500 each month in rent,” she noted, highlighting her reluctance to face similar financial burdens while simultaneously building a startup. The decision to move back in with her parents in August 2024 was a calculated one, allowing her to avoid these “astronomical” costs.
Saving Big, Investing Smart
In a move that’s more common in South Asian cultures with their emphasis on tight-knit families, Bhasin transformed her childhood bedroom with a standing desk and converted the family garage into her company’s headquarters. This unconventional arrangement has paid off handsomely, allowing her to save or reinvest a remarkable $3,000 in her company each month by eliminating rent expenses.
This significant capital has enabled Bhasin to attend crucial industry conferences, expand her network, and connect with potential customers – opportunities she says would have been far more limited had she been shouldering rent payments.
More Than Just Savings: A Richer Life
Beyond the financial benefits, Bhasin’s quality of life has also seen a marked improvement. With rent no longer a concern, she can afford to maintain an active social life and indulge in hobbies like pottery, which costs $250 a month. She emphasizes the importance of this social time for her mental health amidst a demanding work schedule.
Living with her parents and brother has been “really fun,” Bhasin shares, noting that as an adult, her parents now act more like friends than disciplinarians. The family enjoys hiking in the summer, skiing in the winter, and late-night poker games. Her father has even accompanied her to conferences, gaining a unique insight into her work that many parents of entrepreneurs don’t experience.
Another unexpected perk has been a healthier diet. Bhasin found that living alone often led to takeout meals due to the waste associated with buying fresh ingredients for one person. Now, she enjoys cooking for her family, knowing that whatever she prepares will be appreciated and eaten.
Despite the potential for challenges, Bhasin reports a harmonious living situation, crediting her own workspace, a quiet home, and her parents’ respect for her adulthood. While spontaneous outings with friends require more planning these days, it’s a minor adjustment.
Bhasin plans to move out next year, driven by a desire for change rather than any dissatisfaction with her current living arrangement. She wholeheartedly endorses her decision, stating, “I wouldn’t hesitate to make the same decision if I could go back in time, and I don’t think anyone should feel ashamed of living with their parents to save up money, and to extend time with family.” Her story offers a refreshing perspective on navigating the financial realities of early adulthood while fostering both personal and professional growth.