What Millennials Need to Know Before Moving Out

Every young adult looks forward to getting their own place. Moving out of your parents’ house is a rite of passage---a huge step into adulthood. It’s when you show the world that you can take care of yourself. It’s exciting to chart your own path, but it can be scary, too. Wondering what you need to do to prepare? Read on to find out! Paying Rent You need a fair amount of money on hand to move for the first time. Most landlords will require first and last’s month’s rent as well as security deposit before you sign a lease. The average rent across the U.S. is roughly $1200 per month for a one-bedroom apartment, so that’s at least $3600 just to start. Don’t be surprised by a heftier price tag in highly desirable urban areas. Financial experts advise that you spend no more than 30% of your income on housing costs. If you go beyond that, you’ll find that you can become financially strapped very quickly. Other Monthly Expenses Different lifestyle interests carry different price tags. Jogging and hiking are pretty inexpensive hobbies. Skiing or indulging a shoe obsession require much deeper pockets. No matter who you are, some monthly expenses are inescapable. Other monthly expenses include:

• Health insurance
• Internet, cable, and phone
• Utilities
• Groceries
• Transportation cost (car payment and insurance, public transit pass)
• Clothing
• Household goods
• Student loans

Be sure you have your eyes open about these costs. Come rain or shine, these bills come around every month. Should You Get a Roommate? This is one of the essential questions to consider when your ready to move out. If you’re having trouble deciding, think about the potential pros and cons. Pros for having a roommate

• Can split housing costs and some utilities
• Have someone to chat with at the end of your work day
• Someone may make you soup if you don’t feel well
• Can spilt up responsibilities for groceries and cooking
• Could be a lot of fun

Cons for having a roommate

• Less privacy
• May have different sleep schedules and need for quiet
• You have to deal with someone else’s moods and habits
• You’ll have disagreements about how to keep your home your clean
• Your roommate may not pay their bills

Don’t stress too much about this decision. Choose what seems best for right now. If it doesn’t suit you, you can always change your mind. Getting Along with Roommates You may not be able to afford to move out without having a roommate or two. There are some tricks that can help you and your roommates get along.

• Don’t let resentments simmer You will argue at some point with your roommates. Actually, that’s a good thing. It’s better to communicate openly about disagreements than wait until somebody blows their top. Talk ahead of time about how you will handle disagreements.

• Have a monthly cup o’ joe Make a great cup of coffee or tea and sit down together once a month just to check how things are working for all of you. Talk about what’s good about the living situation and what you’d like to change. Use a scale of one through ten to rate grievances. Playing music too loud? Maybe that a 4. Leaving dishes in the sink? 10, that’s a 10 no matter what.

• Make a chore chart Decide which jobs need to be done to make the household run smoothly. How often do they need to be done? Map it out on a chart and divvy up the tasks. Having a visual helps people remember their commitments.

Things You Had No Idea You Had to Buy When you’re young everything that belong to you fits in one bedroom. That’s not true once you move out. Suddenly, you’re responsible for everything. You realize that you never before thought of how certain items landed in your home. Some things may come as a shock:

• pots and pans
• dishes
• salt and pepper shakers (admit it, you’ve never once thought about where these came from)
• trash bins
• clothes hangers
• lamps
• cleaning tools---mop, vacuum, bucket, brushes
• cooking utensils

Where to Find Stuff Cheap When you start seeing your hard-earned money being eaten up by rent and utilities and salad tongs, you are going to want to save money where you can. The good news is you can outfit your new home relatively on the cheap. The secret is to get comfortable with second-hand goods. The first order of business for any new renter is to ask your family what they have that they don’t want anymore. You’ll often be able to get bureaus or couches that have been forgotten in someone’s basement. They may have some wear, but you won’t have to shell out hundreds for a place to sit. Want free stuff? You can join your local Buy Nothing group on Facebook. Buy Nothing groups are focused on reducing waste and building community. Everything posted is offered for free. If you’re in search of something particular, you can post that, too. Each group is hyper-local, so you may end up meeting some of your new neighbors. Facebook also has local “trading post” pages where prices are usually negotiable. Want more free stuff? Look around your neighborhood on trash day. People are constantly leaving home goods curbside. You can find shelving, lamps, chairs, and more. Some people take pride in furnishing with recycled goods. Make Sure You Have an Emergency Fund Before you take the leap and move out, review your finances carefully. Nothing’s worse that getting a taste of independence and then returning home flat broke. Financial experts say that you should have enough savings to cover your expenses for at least a few months, if not more. If you can postpone your move until you have that financial cushion, you’ll be able to handle some setbacks without losing your independence. Don’t want to lug all those boxes? Contact us to see how we can help with your first move. Check out our resources for information on what and how to pack.