A first timer’s guide to moving out on your own

There will always come a time in your life when you decide to move out of home and go it alone in the big wide world for the first time. Regardless of when it happens, or why, you’ll probably feel the same excitement and nerves in equal measure.

Here are some tips to help you fly out of the nest and not flee back again just as fast.

Consider your decision to move

There are many reasons to move out – maybe it’s your decision, maybe it is someone else’s, maybe it is necessity, maybe it is just time. Don’t make a rash decision that could see you needing to move back home again soon, and make sure you consider all the avenues available to you.

If you’re testing the waters of moving out on your own, a share house could be a good option.

Finances

Leaving home is expensive. Make sure you have enough money to always pay any bills and rent on time to avoid a bad credit rating. If you want to buy a home later on, your rental history can be used to support your credit history when applying for a home loan.

Remember when setting up or moving house there are also establishment / new connection fees such as a rental bond, one month rental payment, phone, cable TV, gas, electricity or internet, as well as the set up costs of furnishing rooms or equipping a kitchen.

It’s also smart to take out home contents insurance, just in case as the landlord’s insurance will not cover your contents in the property.

No matter how much, or how little money you have, managing your money well is the best foundation to living independently and this will have flow on effects to all aspects of your life.

Find the right place

Whether you’re buying, sharing or renting, you’ll need to work out what kind of property best suits you and your lifestyle.

Ask yourself some serious questions. Can you live alone or is a flat share the best option? Will you be happy in a grungy share house or is a slick inner city pad more your style? What can you actually afford? And where?

Start your search online, but don’t stop there: you can’t tell everything from photos, so make sure you attend several open for inspections to get a sense of what your budget really buys you and if you are considering sharing you will want to meet the people currently living in the home to ensure you will fit in.

Chores

Moving out gives you independence, freedom and adventure, but it all comes with added responsibilities.

You need to keep on top of the chores like cleaning, cooking, laundry, and taking the bins out. If renting, this will impress the landlord / agent.

If you’re used to having meals cooked for you at home make sure you get into a rhythm of cooking yourself, rather than skipping meals or relying on take away every night (that’ll eat into your budget too).

Have a spare key

There’s nothing worse than the surprise of an after-hours call out fee for a locksmith, so give someone you trust a spare key to your house. We don’t recommend hiding a spare key at the property.

If you are thinking of moving out of home for the first time and would like more information please contact our team on (03) 9826 1399.

 

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