Young people are staying at the family house for longer than ever before and may be in their mid-20s before they decide to leave the nest. Hopefully, these more mature years will mean they’re working to pay rent to their parents, can do their own laundry and cook basic meals. But either way, the first-time move can be both exhilarating for its freedom and frightening for its responsibility, especially financially. Here’s how to make sure you’re well prepared for what lies ahead.
But first, finances
Before you start house hunting, consider your budget. While you might already be paying cash to your parents for house room and similar, the expenses of rent, food and utilities quickly add up when you’re out on your own. So, talk to your parents about what to expect in the real world. Room mates can be the key to keeping costs reasonable but bear in mind, your BFF is not always the perfect person to live with. Paying the bills, cleaning and noise can put pressure on the best relationship.
And second, furniture
Having the freedom to stay out all night is brilliant. But when you collapse on your bed after a party, think about who owns that bed, the bedroom wardrobe, desk and television, because guess what? You may have to buy your own when you move out. The costs of even second-hand furniture plus fundamentals such as blankets and sheets, kitchen appliances, curtains, cleaning supplies and more can be an unpleasant surprise.
Back to basics
Smart parents will have trained you well when it comes to cooking, cleaning and laundry because two-minute noodles, an overflowing laundry basket and messy rooms are only OK for so long. This is your life now so if you haven’t already, learn all you can about the practical basics of what it takes to create a great home life, well before you leave the family nest. Speaking of parents, most often they’ll be happy to help with your first move – even if they have mixed feelings at seeing you leave – so don’t be ashamed to ask them for help with all the ins and outs of everyday life.
Content originally appeared on The Real Estate Voice
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