More and more, people are living with their parents as long as possible to avoid the high prices of rent while saving money. This allows people to pay down student loans and save up for their own place. Once you decide to move out of your parents' home, there are some tips and tricks you can follow to make your move even easier.
7 Tips for Moving Out of Your Parents House
1. Come Up with a Budget
Start budgeting even before you move out. Make sure you budget for these items (this table below is an estimate):
|Cell Phone$|| $75|
|Spending Money|| $100|
|Car and rental Insurance|| $150|
We recommend giving yourself a buffer of 10 to 15%, making your monthly budget come to $1,782. These numbers are based on one-bedroom averages and will vary based on location and your expenses so instead of following this table, insert your expenses.
There are quite a few budgeting apps out there such as Mint, Truebill, PocketGuard, and You Need A Budget. These apps help a lot and help you keep your budget on track.
2. Get Your Finances Locked Down
After you figure a budget out, the next thing you must do is figure your finances out. You have to make sure you are making enough money to cover everything and then some. This also includes finding a steady full-time job.
You will need a steady job to get a new place. If you just got out of college, you might be holding out for a job in your area of study but taking a job that isn't in your area isn’t a bad thing either. Entry-level jobs give you experience and provide a paycheck while you look for a more permanent job in a field you studied for.
3. Find a Place to Live
The next thing to do is to find a new place that you can afford. Some great resources to use are rent.com, apartments.com, and Zillow. You can search for available apartments, homes, and condos in your area based on your needs.
You can set your max price for rent and you will get search results based on that which makes house hunting much easier.
Remember to consider your proximity to work when looking for a place to live. If you find a cheap place across town from where you work, you might not be saving any money getting that place as opposed to somewhere closer by that might be a little more expensive.
4. To Roommate Or Not to Roommate
Depending on the location and cost of living where you are, getting a roommate might be the best idea for your situation. Living with someone else offsets the cost of rent and utilities. This also gives you more options - including bigger and more expensive places that you couldn't rent on your own.
This isn't just a strategy for people starting out on their own. Many professionals will opt for roommates in expensive multi-room houses when living in a high cost of living areas like San Francisco and Silicon Valley.
You can look on Craigslist or Facebook Marketplace for people who are wanting to fill spots for a roommate as well, which can often save you even more money (a quick look on our local Facebook page showed prices around $300 a month for rent for people looking for roommates).
5. Deciding Whether to Move Yourself or Hiring Movers
Chances are you probably don’t have much furniture to move if you’re still living at home, so deciding whether to hire movers will be totally up to you. If you feel that you don’t have enough things to move, then you could hire a rental truck and move yourself to your new place.
Likewise, if you do have quite a few things and want someone else to take care of them, then having professional movers come in is always a great convenience that takes the pressure off you.
6. Furnish Your New Place
There are plenty of furniture options that won’t break the bank that you can utilize to furnish your new place. You can always go with stores like Ikea or Walmart that offer cheaper furniture that you put together yourself, or you can also go to second-hand furniture stores that have nicer furniture at decent prices.
7. Explore the Area
After moving in, it’s important to explore your new area and get a good lay of the land. This lets you learn of any shortcuts in your neighborhood, and you can learn of any cool local hangouts like coffee shops, restaurants, or cool shops. This lets you meet your neighbors and establish your routine.
Moving out on your own is a huge step, one that can be scary but necessary. Independence is a great thing to have, and once you have it you probably won’t want to go back. One thing you can do, if you need to and if you can, is ask your parents (or family) for help. They can help be your support system, help set up your new place, and they can even donate some items they don’t use anymore so that you can use them. If you foresee yourself have an issue telling your parents that you will be moving out, we recommend checking out our guide we have detailing that process.