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August 09, 2019

Tips for Young People Moving Out of Home

Making the transition into independence and moving out of home is a massive step towards adulthood. Regardless of when you’re planning on spreading your wings and leaving the nest, or why, you’ll most likely feel just as nervous as you are excited for the next chapter in your life.

Whatever the reason for wanting to leave home, taking the leap will always be daunting. We’ve put together some helpful tips to make your first big move an easy one.

 

When is the right time to leave home?

The answer to this question is going to be different for every person. You’re ready to move out of home when you know you can take care of your daily needs and that you earn enough income to look after yourself. Some people choose to live in their family home until they are well into their older years, and others decide to move out as soon as they are able.

While many young people romanticise about moving out of their parents’ home and into their own place, what’s often forgotten about is the sheer amount of responsibility that living away from home entails. Taking your time to think about all that comes with the independence of leaving home will help to make the decision of when it is the right time for you to move out of your family home.

 

Think about what issues that may appear when moving out of home

It’s completely normal to be a little unsure when you make a huge decision such as the one to leave home. Although you can’t anticipate everything, it’s important to think about what issues you may come across when leaving home and how you will overcome them.

Some of the bigger issues may include:

- Worries with money – It’s not uncommon for people to move out of the comfort of their family home and be surprised by the cost of bills (including utilities such as electricity and gas, to cost of groceries and weekly rent and house payments). This can be especially overwhelming if you are used to your parents providing everything for you.

- Problems with housemates – Issues such as lifestyle incompatibilities, not sharing housework equally, not paying bills on time may result in hostility and arguments, leading you to regret your decision to move out of home.

- Not being ready – If the decision to move out of home was a rash one, you may quickly find that you’re not completely ready to handle all the responsibilities that come with flying the nest yet. It’s best not to make a rash decision that could see you needing to move back home as quickly as you left.

 

Work out a budget

It doesn’t take long for bad budgeting to lead to financial stress so it’s important to plan ahead. Before you pack your bags it’s important to have a sit down with your finances and get an idea of how much you’ll need to spend in a week, so that you are able to budget accordingly.

As well as budgeting for groceries, you’ll need to have a think about bills and any unplanned expenses that may come up.

It’s important to pay bills and mortgage/rent on time to avoid getting a bad credit rating. When moving homes, you will also come across establishment fees such as for your phone & internet, gas & electricity and if you’re renting you will be required to pay a rental bond (which is usually around 4 weeks rent paid prior to moving in).

 

Find the right place to move into

There are lots of factors to consider when it comes to choosing a place to move into and who to live with. Many young people live with housemates in order to split the costs of living. Although it may seem like a fun idea to move in with your best friend, it’s also important to live with people who are responsible and have both feet firmly on the ground.

It’s important to inspect the home you are thinking about moving into before making a sound decision. The most important part of moving out is to find a new home that you feel comfortable and happy in.

 

Don’t be afraid of asking for help

A little bit of help every now and then can go a long way, being new to full independence doesn’t mean that you have to struggle alone. If things are becoming difficult for you after you move out, don’t be afraid to ask your local real estate agencies, friends and family for help.

If you are thinking about buying a property, here is some information about the upcoming First Home Loan Deposit Scheme initiative from the Liberal Government.

 

Inspired by Brad Bell Real Estate