Moving Out--a Handy Guide to Leaving the Nest

Moving to a new homeBy Julie DeLong, A-1 Freeman Moving Group 

Back in the day, kids could not wait to get out of the "nest". As recently as 2005, 75% from the 18-34 audience had moved out. Fast forward to 2015, and wholly a third of that population was still living at home--and the trend is expanding.

How come countless aging millennials and Gen Xers unwilling to depart the nest? There are several factors, but primarily, moving out to Austin is costly--it's a lot of up-front money cost which requires a few months of saving to get all the money together. Sometimes, mothers and fathers can help with expenditures, but if you're wondering how much money you need to move out, and the way to take action, here's how to get going.

What is Your Budget?

To begin with, what amount could you afford to pay out in expenditures on a monthly basis? The rule of thumb is that at most 30% of your gross (before taxes) monthly income should go to your rent. You then should take into account the expense of utilities--electricity, internet, water, gas--and food, and remember your other common monthly expenditures--gas, clothes, leisure activities, gym--when you're budgeting.

Will You Have A Roomie?

Roommates are good for several aspects. At the very least, they are someone to share expenditures. In reality, two- or three-bedroom apartments can be drastically less costly than a one bedroom, should you have roommates. Various areas have flats where each roommate has a separate lease (these are popular in college communities) consequently you are not responsible for the total rent in the event a roomie loses their job.

Roommates are also good to have if you are moving to a new place and do not know anybody, and when you get sick it can be helpful to have somebody bring you chicken soup, or at least call your mom.

What Are the Expenses in Getting an Apartment?

Getting an apartment is costly. There are application costs, admin charges, and deposits to pay--all right away.

· Application fees cover the expenses of running credit history and background record checks on would-be tenants

· Admin fees pay the office costs to perform those checks whilst keeping the office humming--that 24/7 repair hotline, for example

· Deposits are required whenever you sign the lease. The total amount differs based on what part of the country you live in, plan on at least one month’s rent, possibly two.

· Utility companies might call for a deposit if you've never had service in your name. In the event your parents have service using the same businesses, they might be allowed to co-sign so you might avoid paying a deposit.

· Furniture is often a hidden expense--you'll require a minimum of a bed and dresser and a chair, but most folks prefer to live like adults--sofas, coffee tables, barstools, along with a big screen Tv set. This is when Great-Aunt Mabel's sofa isn't going to look too terrible, after all. You can start with the basics and increase your home furnishings and accessories as funds permit. Roommates are also useful for contributing their own things to the apartment--with the right roommates (the ones with hoarder mothers) you could have the abode looking prepared for an Architectural Digest shoot inside the week.

· Moving is yet another expense which can be minimal or costly. Local moves could be cheap, if you have access to a big SUV and perhaps rent a moving van; if you are downtown and car-less, you will want to price out a moving company in Austin.

This is a new year--begin investigating apartments, chat up friends concerning living together, and also open a bank account and put moving to Austin money away every month. It's time to do your own adulting--moving out is a wonderful first step.

Moms and dads, feel free to send this hyperlink to your adult children. Or do it old-school and print it, then place it on the fridge. In any event, it's a cannot miss.

 

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