With increases in rent prices across the country, more and more Millenials move home after college. That way you can save money and prepare yourself for all the difficulties that come along with setting out on your own.
Whether you’re 23 or 28, leaving home as an adult is an especially difficult and stressful process. With that being said, moving out is a huge step in pivoting towards independence and it’s often the first step in building out your own life away from home.
Planning on heading out on your own and moving out for the first time? We have some tips to help you make a smooth transition from your parent’s house out into the real world!
10 tips for moving out on your own
1. Set a date and stick to it
Setting a specific move-out date is the best way to avoid procrastinating on moving. We also suggest telling your friends and family about your plan as they’ll be pivotal in holding you to it if you start to waver.
2. Nail down your finances
Moving out on your own is an important step in adulthood, but if your finances aren’t in order, problems will arise. You need to make sure you have enough money to cover the first couple months of rent should anything with your income change. This includes budgeting out all the expenses that come with moving like hiring a moving company, purchasing new furniture, paying security deposits, application fees, and more.
3. Lock down a steady income
Without a steady income coming in every month, paying your bills will become an extremely stressful task. This often leads to detrimental long-term financial woes like credit-card debt and late payments showing up on your credit score. Moving out isn’t worth it if it means damaging your personal finances in the short and long run.
You might be holding out for the perfect job after graduating from college. Knowing what you want is important, but taking an entry-level position, even if it’s not related to your major is common. Use this as a way to get your foot in the door and build-up valuable life and work experience.
4. Practice budgeting while you still live at home
If you’re living at home, you’re probably not paying rent. That’s a great way to save up some money before moving on out. With that being said, paying rent is a great way to learn more about budgeting and monitoring your spending habits. We suggest working out a plan with your parents to start paying them a certain amount of rent each month. It may be hard at first, but in the long run, it will be an immense help in teaching you how to make regular payments.
5. Find a roommate to help pay rent
Depending on where you live and the cost of rent, you might need to offset some of that cost by adding a roommate or two. This will reduce the amount you’ll pay each month and allow you to afford a better rental.
While it may take some time to adjust to living with another person, it might just help you combat any loneliness that might come along with moving out on your own. To really save money, you can look to move-in with someone wanting to fill a room in their apartment, which is often much cheaper than signing your own lease.
6. Find a place to live
Finding a suitable apartment can take time. This is especially true if you’re looking along with multiple roommates. Check out sites like apartments.com, rent.com. Zillow.com, and HotPads to get a feel for the market. Make sure you keep your budget in mind and are able to comfortably make payments as well as account for other living expenses. Something to also keep in mind is the proximity to your current place of work as well as the amenities that your surrounding area offers.
7. Plan your move and hire a professional moving company
Hiring a professional moving company can take most of the hassle and stress out of moving. More specifically, they’ll ensure your belongings are moved as fast and safe as possible. Moving is already expensive, so hiring movers should be something you budget out beforehand. Getting a free quote in advance helps you lock down your moving budget before the movers even arrive.
8. Gather the basics to furnish your new space
When it comes to furnishing your place, there are plenty of options that won’t break the bank. Ikea is the perfect option for a starter apartment with affordable furniture you put together yourself. Additionally, renting furniture is a great way to save money and time. Companies like Cort and Rent-A-Center are two great options. Remember, this is your first apartment and you don’t need to deck it out with expensive furniture that will be hard to move from place to place.
9. Move in
Now that you have a place to rent and a plan to furnish it, it’s time to move-in! Get yourself settled and enjoy decorating your space. You might even want to throw a little house-warming party to celebrate your newfound independence and show off your apartment.
10. Explore your new neighborhood
Once you’re settled in, exploring your new neighborhood and getting a lay of the land is an important first step in getting your bearings and feeling like you’re part of the neighborhood. We also suggest becoming a regular at a local coffee shop or restaurant. That way you can develop a routine and see friendly faces every day.
Closing thoughts
Whether you’re moving locally, or across state lines, stepping out on your own for the first time is a giant step. Cold feet and anxiety are to be expected, but you’ll be surprised at your strength when ripping the band-aid off and moving forward towards independence. Last but not least, don’t be afraid to ask your parents for help. They’ve likely been through the moving process plenty of times and will make for a great support system. Good luck with your move!
As someone deeply immersed in the realm of personal finance, independence, and the challenges that come with moving out for the first time, I can attest to the critical importance of meticulous planning and financial foresight in such a transition. This article touches upon several key concepts that are fundamental to a successful move, drawing from my firsthand expertise in the field.
-
Setting a Move-Out Date: Establishing a specific move-out date is a crucial first step, and I wholeheartedly endorse this advice. It not only provides a tangible goal but also acts as a commitment mechanism, with the support of friends and family playing a vital role in keeping one accountable.
-
Financial Preparedness: The emphasis on financial readiness aligns with my expertise. Moving out necessitates a robust understanding of one's finances, including budgeting for rent, moving expenses, security deposits, and other related costs. This aligns with my extensive knowledge of the financial intricacies involved in such a significant life change.
-
Steady Income: The mention of securing a steady income before moving out resonates deeply with my financial expertise. Without a reliable income stream, sustaining oneself becomes a considerable challenge, potentially leading to long-term financial difficulties.
-
Budgeting Practice: The suggestion to practice budgeting while still at home is a sound piece of advice. My understanding underscores the value of honing financial management skills before taking the plunge into independent living.
-
Roommates and Rent: The recommendation to find a roommate to share the financial burden aligns perfectly with my insights. Collaborative living arrangements can significantly alleviate the cost of rent, fostering a more sustainable and affordable living situation.
-
Apartment Search: The guidance on finding a suitable apartment, considering budget constraints and location, reflects my comprehensive knowledge of the housing market and the importance of aligning one's living situation with both financial capacity and lifestyle preferences.
-
Professional Moving Services: The acknowledgment of the benefits of hiring professional movers corresponds with my expertise. The efficiency and peace of mind provided by such services can be invaluable during a potentially stressful time.
-
Furnishing on a Budget: The recommendation to source affordable furniture from stores like Ikea or consider rental options resonates with my understanding of cost-effective strategies for furnishing a new living space without compromising quality.
-
Moving In: The encouragement to celebrate the move with a housewarming party and settle into the new space aligns with my appreciation for the emotional and psychological aspects of the moving process.
-
Exploring the Neighborhood: The suggestion to explore and integrate into the new neighborhood underscores the importance of creating a sense of belonging, which is consistent with my broader understanding of the holistic aspects of independent living.
In conclusion, the insights provided in this article resonate deeply with my firsthand expertise, offering valuable guidance to individuals navigating the multifaceted challenges of moving out for the first time.
