I think a simple rule is to spend as little as you can for as long as you can. If you're young and can live with your parents...do it. Save your money. If you a

I think a simple rule is to spend as little as you can for as long as you can. If you're young and can live with your parents...do it. Save your money. If you are single and don't spend a lot of time at home anyway, rent a cheap room. Save your money. When you can afford it, buy a small condo. On the flip side, if you're older and require more room/privacy/quiet it's worth it to spend more on your place. You'll probably be there more often, and you probably won't be alone. You don't want to be needlessly extravagant, but you shouldn't be a cheapskate either. A nice place is worth it at a certain point in your life. And hopefully you can now afford it because you saved money earlier.