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 away from the "nest". As recently as 2005, 75% of 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 keeps growing.

How come countless aging millennials and Gen Xers reluctant to depart the nest? There are several components, but primarily, moving out to Austin is expensive--it's a lot of up-front cash cost which requires a few months of saving to get all the money together. Sometimes, parents can assist with expenditures, but if you're wondering how much cash you require 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, also keep in mind your other common monthly expenditures--gas, clothes, leisure activities, gym--when you are budgeting.

Are You Going To Have A Roomie?

Roommates are good for several aspects. At the very least, they are someone to share expenditures. The truth is, two- or three-bedroom flats can be considerably less costly than a one bedroom, for those who have roommates. Various areas have apartments where each roommate holds 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 nice to have if you are moving to a new area and do not know anybody, and whenever you get sick it can be helpful to have somebody bring you chicken soup, or at a minimum contact your mom.

Exactly what are the Costs in Getting an Apartment?

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

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

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

· Deposits are required when you sign the lease. The total amount varies depending on what area 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 have never had service in your name. In the event your parents have service using the same businesses, they may be allowed to co-sign so you might avoid having to pay a deposit.

· Furniture is a hidden expense--you will require a minimum of a bed and dresser and a chair, but a majority of 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 can have the abode looking prepared for an Architectural Digest shoot within the week.

· Moving is another expense which can be minimal or costly. Local moves can be cheap, if you have use of a big vehicle 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--get started investigating apartments, chat up friends concerning living together, and 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 superb first step.

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

 

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