When It’s Time To Move Out
To move out of your parents home is something that most grads have on their short list of things to do after graduating. For many of us leaving in the first place was probably one of the most exciting and memorable moments of college where there was no supervision, complete freedom, free of chores, and of parents breathing down our necks.
Fast forward, 4 years and we are back in the mother’s nest. After a short while the free meals, rent free living situation doesn’t seem as appealing as you originally planned for. If you envision a life of independence it’s important to know when it’s time to move out. Perhaps it’s because you want a normal social life, free space, successful relationship, or just some privacy – here are my top 3 initial steps to help you in this process.
Step 1: Create a budget
Along with having a comfortable number in your savings it’s important to know exactly how much you can afford on a monthly rent. Don’t forget to factor in utilities, grocery, and any other monthly bills you may have to your spending. Creating a budget and managing your expectations when it comes to spending is crucial.
Step 2: Set a move-in date
Decide and commit to a month that works well with your budget. Start looking at least 3 months in advance to allow yourself ample time to visit neighborhoods, schedule appointments with brokers, and view different listings. I recommend you do your research before speaking to a broker as some may try to push undesirable fees.
Step 3: Live like you’ve already moved out
Put away “rent payments” while still living with parents to allow yourself to get accustomed to having bills to pay while growing your savings when it’s time to move out!