4 Ways To Prepare To Move Out Of Your Parents House

For example, you may need to get a rental truck to transport your stuff, hire movers, or pay for a storage unit to hold your belongings for you. [5] X Research source

Since you haven’t moved out yet, you won’t know exactly how much to save for utilities, rent, and deposits. Check out apartments to get an idea of rent and deposit costs and use that number. Estimate high to err on the side of caution. For utilities, you might ask your parents what they pay or call the utility company for an estimate. If you’re planning to buy a house, save up enough money to make a significant down payment and cover at least the first month of a mortgage payment. Typically, you need a down payment of at least 3% of your target home price. Some lenders require 5% or more. [8] X Trustworthy Source US Consumer Financial Protection Bureau U. S. government agency for protecting consumers in the financial sector Go to source

Landlords will check your credit history when reviewing your rental application. If your credit is bad, or if you have no credit at all, they may not rent to you. To build more credit, you can ask your parents to put your name on one of the household bills. For example, if your name is on the cable account, that can help to establish your credit. This is especially important if you’re planning to buy a house. Lenders will check your credit history before deciding if they want to work with you.

The recommended amount for most emergency funds is enough to cover 3 to 6 months’ worth of expenses, but you can start small and work toward that. Keep adding to your emergency fund even after you move out. For example, choose an amount that you can afford to set aside every month, like $20, and add it to your list of fixed expenses. That way, you’re putting a little aside every month in case of emergencies. [11] X Research source If you don’t already have a savings account, consider opening one so you have a place to put the emergency funds. You’re less likely to spend this money on other things if you keep it separate from your checking account.

If you’re having a hard time finding a place that you can afford, consider living with a roommate. Splitting costs can save you a lot of money. Keep in mind that you’ll need to learn to compromise with a roommate and split up the chores and other responsibilities fairly. Don’t forget to factor in safety concerns. You can always scout locations at night and on the weekends to see what kind of activity goes on in the area. If things feel sketchy near a potential place, keep looking. [13] X Research source

Open all of the cabinets and closets and check for rodents and rodent damage. [15] X Research source If you’re buying a house, ask the realtor to give you a thorough tour and look for any issues or damages.

Pro-rated rent means that you only pay for the amount of time you’re actually there. For example, if your monthly rent is $1,000 and you move in mid-month, pro-rated rent would be $500 because you’re only there for 2 weeks of that month. Do not hand over any rent or security deposit money until you sign the lease. Once your payment clears, the landlord will hand over the keys. Keep in mind that there’s no law requiring landlords to give pro-rates, but most will honor this, especially if you ask about it specifically. [17] X Research source If you’re buying a house, work out your move-in date with the mortgage company.

You may be required to put down a deposit with a utility company if you’re a new customer. [19] X Research source

You may want to enlist a few friends and family members to help you so you don’t have to carry everything yourself.

You may also need to officially change your address with important accounts, like your bank, as well as with your workplace.

You might need proof of your new address to make this change. Most DMVs will accept a utility bill in your name, but check your state’s specific requirements.

Make sure you have a good system for tracking expenses after you move into your new home. That way, if you’re coming close to your budget, you’ll know you need to cut off some spending so you don’t get into a hardship. [23] X Expert Source Stacy Chretien, CFP®Certified Financial Planner Expert Interview. 22 July 2020. Create a plan for handling emergency situations like a flat tire or an accident. You can talk to your family and friends if you need help coming up with solutions. It’s a good idea to create a plan for things like home fires, natural disasters, break-ins, and evacuation. [24] X Research source

All-purpose cleaner Glass cleaner Disinfectant wipes Toilet bowl cleaner and a toilet brush Dish/dishwasher soap and sponges Broom (for hard floors) and vacuum cleaner (if your new place has carpet) Trash cans and trash bags

Toothbrush and toothpaste Hand soap Shampoo and conditioner Body wash and face wash

A first aid kit A sewing kit Fire extinguisher Power strips Plunger Light bulbs Smoke alarms Batteries[27] X Research source

Storage containers for leftovers Paper towels Aluminum foil Blender Tea kettle Mixing bowls

Couch Coffee table End tables Entertainment unit or TV stand Area rug Lamps Kitchen table and chairs Bookcase Bed frame and mattress

Cereal and milk Fresh fruit Loaf of bread Canned soup Frozen pizza Microwaveable snacks Salt and pepper[30] X Research source

Are they going to be helping you financially? Will you still be free to come over and do laundry? If you need help, don’t be too proud to ask your parents for it. Chances are, they will help you with whatever you might need.

For example: Will you still come over every Sunday for dinner? Or will you call every Sunday night but only see them on holidays?