Everyone comes to a point in their life when their ready to move into their first apartment. Sometimes living at home can be stressful or crowded. Parents and siblings can really start to make life at home feel uncomfortable. If you’re tired of living home with mom and dad then it’s time to get your first place. Here’s how to move from home into your first apartment.
Decide how much you can spend
This is the most important part of the process of moving from home into your first apartment. Deciding how much you can spend will help you decide where you want to live, what size apartment you can afford, and how much rent you can afford.
Also, knowing how much you can spend can also help you determine whether or not you need a roommate. For those of you who can not quite afford an apartment on your own income then finding a roommate will be the best option for you.
The best way to decide how much you can spend is by making a simple list of current income and expenses. Once you’re finished making the list determine how much money you’ll have left over for your new apartment. Costs that you will have once you move into your first apartment are rent, gas, electric,water. etc.
Here’s a helpful tip. Most experts suggest not spending no more than 30% of your income on monthly rent. Of course you could always spend more than the 30% but I wouldn’t suggest it.
After you’ve decided on how much you can spend, it’s time to pick a neighborhood with apartments that you can afford. When you move into your first place and sign your lease, you will be bound by that contract to stay at that particular place for a year or so. Of course you can always break a lease but to prevent from having to ever do so, make sure that you thoroughly research the neighborhood so that you know that you love it.
Target neighborhoods that are within your price range. Don’t even waist time looking at neighborhoods that you are priced out of because it will only make your search harder. Seeing luxury, expensive apartments that you can’t afford,can make other apartments that you can afford feel less nice.
Other things you want to consider when researching neighborhoods are the proximity to the things you need. Ask the yourself the following questions about your target neighborhood:
- How close is it to work?
- Are there other people my age in this neighborhood?
- Are there any great hangout spots for me and my friends?
- Does this neighborhood have any activities that I would be interested in?
- How close will I be to my family in case of emergency?
The above are just a few questions to help you determine if the particular neighborhood is the right neighborhood for you to move into your first apartment.
Save for the big move into your first apartment
Before taking the plunge and signing the lease, make sure that you have money saved. When you decide to move there will be a few expenses. Here’s a few things that you’ll need money for:
- Security Deposit
- Application fees
- Parking permits
- Moving Truck fees
- Various installation fees ( Cable, phone, etc.)
- Parking Permits
These are all expenses that you’ll need to save for. Moving can be very costly especially for those of you that may not have people to help you out with the costs. Most likely most of your parents will be expecting you to fit the bill for your own moving expenses, so I wouldn’t expect much from them.
Every situation is different, so I can’t really say how much you should save because it varies depending on the person. How much you should save all depends? I would suggest and this just my suggestion based on my knowledge, that you save at the bare minimum $4000. The way I see it most of you probably won’t spend over $1000 bucks a month for rent anyway. So , $4000 would be more than enough to cover the above expenses.
Save as much as you can before you move into your first apartment because you want to be prepared for emergencies as well. If you lose your job or your roommate moves out, if you have a good savings then you can cover the expenses temporarily until you find a solution. One thing you won’t want to do is end up knocking back at your parents door. So, don’t be in a rush to move unless you know you have enough money to cover expenses.
Before you move into your first apartment have a talk with your parents
Before you make a final decision about your new place have a talk with your parents. They deserve to know what your plans are so that they can plan accordingly. Maybe you pay rent and your parent’s will have to find a way to supplement the income that you were giving them. Or maybe you should let them know you’re leaving, so that you’re dad can begin turning your room into his man cave. Either way they should know.
Some parents will do back flips when you tell them that you’re leaving, while others not so much. Make sure that you’re prepared for both of those responses. If you’re parents are not thrilled about your decision, let them vent and murmur and then show them all of the work you’ve been doing.
You’ll want to show them that you’ve thought this process through thoroughly and that you are ready to move into your first apartment.
Well, now you’re on you way to moving out of your parent’s home and into you’re first apartment. There will be a few more articles concerning first time renters to come so stay tuned and good luck!
How did you move from home into your first apartment? How was the process for you? What are some things one can do to make the process easy?