For those that are fresh out of college it may be hard to let go of the freedom and independent lifestyle you have cherished for the last few years, but your financial woes and amassed student debts may mean moving back into your parents home is the only viable option. Or you may have lived at the parental home so long that you’re now too set in your ways, never getting round to the dreaded first step of moving out and having to do your own laundry.
Whatever your scenario, all you need is some effective planning, a degree of financial stability, and a good cook book.
Get a Job
Before you start seriously thinking about moving house, it’s important to financially plan the costs of living. If you don’t have one already, you may need to find full-time work and start saving for a few months to afford the big move. If you already have a job you will have to decide whether you are remaining in it when you move out or are setting about finding something new. Alternatively, ease up on the social life, beef up that CV and start making the next step in your career.
The reasons for moving out of your parents’ home obviously differ depending on your situation. The job choice maybe down to a desire to fulfill your career aspirations or simply financial stability, but you have to decide how to approach the job market and how you’re going to fulfill your moving out ambitions. Ideally, you would have found a job in your desired location before the move so you can establish a budget and calculate what you can actually afford.
The various costs you have to keep in mind and budget for include: rent, bills, tax, groceries, moving expenses, travel, furniture (if moving into an unfurnished house), insurance, and your basic necessities such as cleaning products and toilet paper. A daunting list, but vital to assess whether you can afford to move out or not. Effective budget planning will also help you decide what sort of accommodation you can afford.
Where Should I Live?
All of these decisions rely on multiple factors. You may be restricted to what you can afford or your job ties you down to a certain area. Otherwise, this decision is very dependent on what type of person you are. You may want to try somewhere new and exciting or not live too far away from your parents. You need to do some research to find an area that suits you and visit the area.
Rent or Buy
Buying a home does have long term advantages, but in your first move rental gives you a degree of flexibility to flit around and find your ideal place to live. Shared flats and apartments are a great way to meet new people and enjoy a new lifestyle. Having a friend to move in with can make it easier to settle into a new area.
Alternatively, if you wish to invest in property, you can let rooms in your house out through an online lettings agency. If you have the money, this is a great way to start immediately earning from your new home.
- Always seek advice from your parents for the move – they probably can’t wait to get rid of you so will be full of useful info! Seriously, they probably will have a wealth of moving experience and can offer you invaluable advice, help and support.
- Another recommended tip is to ask your parents for items they no longer want, such as an old microwave, sofa, bed, and other kitchen utilities.
- You may face many trials and tribulations living on your own, but remember that you cannot control the future and take it as it comes. The troubles you may face are all part of the independent living experience, but is ultimately more satisfying becoming your own self-supported person.
What are your main concerns about making your first move?
About the Author: Louise Blake is a frugal new mum with a passion for getting people on the property ladder.
Preparing for that move? The one thing you should always remember is that a real estate agent can provide very useful information as well. No matter what type of move it is, rent, buying or selling, always seek comfort through knowledge of a professional. You will enjoy the benefits in the long run.