June 1, 2018

4 Things To Think About When Moving Out

Other than college, can you think of a time that you’ve lived without your parents in the same house? Probably not -- which is why you are now moving out on your own and into your own place. It’s an adventure to move out into a place that you can call your own, and it’s often one that you take on your own for the very first time.

Living with friends is fun, but there’s also a weird clarity that people get when they live by themselves for the first time. They seem to understand that they need to figure out who they are and to do that, they need to be by themselves. There are a lot of reasons that people wait around after college ends before they move into a place of their own. Sometimes these reasons surround finances and career being so much more important to focus on saving enough for a house deposit than it is to live alone. You also may need to consider whether you want a physical address for your mail and packages to go to while you’re couch-surfing with your friends while you find a place to live. There are some other things that you need to think about when you’re in transition from your parents’ house to your first apartment, and here they are:

adult, back, backpack

Budgets. As a former student, you may well be a dab-hand at managing your cash, but have you ever considered the merits of a strong emergency fund? You can’t plan for the unexpected to happen, but you can plan to cover yourself cash-wise when it does. You also need to plan your budget to ensure that you can cover your rent, utilities, food and phone costs on top of extras like the internet, your travel and your social expenses. Budgeting is so important, and tools like this can help.

Rent Or Buy? When you move out on your own, it can be difficult to decide whether you should rent your first home, or you should take the plunge and purchase a property all on your own. Renting is always a good way to dip a toe in the water of living independently before making the commitment of a purchase. Consider this before you get a mortgage appointment.

Where To Go? Flying the nest doesn’t always mean relocating to a different forest, you can still move away, maintain independence and know that your parents are right around the corner. Choosing where you should live is going to take a little research and self-discovery, and you can explore your areas of choice before starting to pack your bags and go for it.

Credit Worthiness. You need to have a stable financial head on your shoulders before you start making home applications. Your credit report will determine whether your new landlord agrees that you’ve got your budget ready and waiting, so why not order your credit reports online and check to see how credit worthy you are.

Moving out of the family home is a big deal, and you shouldn’t allow anyone else to make you feel differently.

*This is a collaborative/contributed/partnered, compensated post. The copy, content, images & opinions are not my own.

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