Moving out of home for the first time can be a daunting experience for some, and the beginning of a new way of life for others. However there are so many different things that need to be thought about before moving out of home, otherwise your hopes and dreams may just fall in a hole. Doing your research and preparing yourself is probably one of the most important things you can do to begin with and a good first step to achieving your goal.
Buying Essentials
The first mistake most people will make is to start looking for a place to move into immediately; while this may give you an idea of the costs of renting around your city/town, it is best to start on smaller, more achievable goals, such as buying the bare essentials you will require to survive. Things such as cutlery, a refrigerator and freezer, microwave, bedding, toaster, dishwasher, etc. But remember to start with the cheaper items. You can begin buying these things long before you start looking for a place to move into so that by the time you finally find a place and are accepted as a tenant you will have most of the things you need to live. Many items may be easily attained from family members or garage sales if you are looking to get things cheap.
Planning and Budgetting
Before moving on to buying the larger more expensive items like washing machines and refrigerators you should begin budgeting and working out how much money you may need to save. Start by working out what your total income is for every week and then make sure to put some away for the expensive items. After a while it will accumulate until you are able to buy the final things you need. Once you have finished budgeting for the bare essentials you should then begin to calculate a rough estimate on the cost of living. Select a rental property to use as an example from your local newspaper or an online real estate site, this will give you an idea of how much rent costs. When working out the cost of living you will want to include rough price estimates on rental per week, grocery shopping, petrol, utilities, internet and phone bills, and any other payments you can think of. Compare the total cost against your total income for the week and hope that you can afford it, if not, then you may need to eliminate some of the costs, perhaps go shopping once a fortnight or use less electricity/water/gas.
Income
You will need a decent income with a little bit left over at the end of each week to make progress, if you are just managing to survive financially then things are not going to go too well. It is also important to make sure you hold a secure job that will give you enough regular hours to be able to afford the cost of living.
Finding a Home
After working out the costs and continuing to save your money you can begin searching through the paper or internet for a suitable property to rent. The reason you will still need to save money is to pay for the bond. When you have found a property you are happy with you should then organize an inspection time with the real estate agency. Showing up to inspections will increase your chance of getting the property.
Other Things to Think About
When you fill out the tenancy application form to hand in to the real estate agency be aware of who’s name the property will be under if you are moving out with multiple people. The person who’s name is written on the application form will be able to collect the bond if they decide to move out again. Also be aware if you are moving out with other people that they all have secure sources of income and are able to regularly assist in paying the rent, otherwise if the property is rented out in your name you will have to make up what they have failed to pay.
Once you have your new house you may begin moving in your bare basic furniture, appliances etc. If you have forgotten anything you will soon realize after a few days that things are missing. Common things people may forget are things like toilet paper, washing powder, toothpaste, tools like screwdrivers (very handy, especially if you have to assemble new furniture.), and many other things. Teaching yourself to cook decent meals from a cookbook is another great idea, many people end up living off pizza and basic food in the beginning.
After a while you’ll learn how it is to live on your own, and if you’re financially secure you’ll be able to progress and continue building upon your assets.