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 house. Even as recently as 2005, 75% in the 18-34 crowd had moved out. Skip forward to 2015, and entirely one third of that population was still dwelling at home--and the popularity is growing.

What makes so many aging millennials and Gen Xers reluctant to leave the nest? There are many variables, but primarily, moving out to Tulsa is expensive--it's a lot of up-front funds cost which requires a couple of months of saving to get all the money together. At times, moms and dads can help with expenses, however if you're pondering the amount of money you need to have to move out, and the way to do it, here is how to get going.

What is Your Budget?

To start with, how much are you able to afford to spend in expenditures on a monthly basis? The general rule is that a maximum of 30% of your gross (before taxes) monthly income should go to rent payments. You then need to look at the expense of utilities--electricity, internet, water, gas--and food, and don't forget your other common monthly expenses--gas, clothing, entertainment, gym--when you're planning.

Do You Want To Have A Roommate?

Roommates are good for various factors. At the least, they are somebody to share expenses. In reality, two- or three-bedroom flats are often substantially cheaper than a one bedroom, for those who have roommates. Some places have apartments where every roommate holds a standalone lease (these are popular in college towns) therefore you're not accountable for the total rent in case your roomie loses their job.

Roommates will also be good to have if you're moving to a unfamiliar location and do not know anyone, and whenever you get sick it is helpful to have someone bring you chicken soup, or at a minimum call your mom.

What Are the Expenditures in Getting an Apartment?

Getting an apartment is expensive. There are application costs, administration charges, and deposits to pay--all simultaneously.

· Application costs handle the expenses of running credit history and background record checks on prospective tenants

· Admin charges pay the office expenses to run the checks while keeping the office humming--that 24/7 repair hotline, for instance

· Deposits are needed once you sign the lease. The amount varies based on which area of the country you live in, plan to put in a minimum of one month’s rent, quite possibly two.

· Utility companies might require a deposit in case you have never had service in your name. Should your parents have service using the same companies, they are often able to co-sign so that you can steer clear of paying a deposit.

· Furniture is a hidden expense--you'll need at the least a bed and dresser and a chair, but the majority of people prefer to live like adults--couches, coffee tables, barstools, plus a big screen TV. This is when Great-Aunt Mabel's sofa doesn't look too bad, after all. You can start with the fundamentals and supplement your furnishings and accessories as finances allow. Roommates may also be useful for adding their own things to the apartment--with the right roommates (the ones with hoarder mothers) you can have that place looking ready for an Architectural Digest shoot within the week.

· Moving is another expense that could be marginal or pricey. Local moves could be cheap, if you've got access to a big vehicle and possibly rent a moving van; should you be downtown and without a car, you will want to price out a moving company in Tulsa.

It is a new year--begin investigating apartments, chat up pals concerning dwelling together, as well as open a savings account and sock moving to Tulsa dollars away each month. You're ready to do your own adulting--moving out is a great first step.

Parents, go ahead and send this hyperlink to your grownup children. Or do it old-school and print it, and then put it on the fridge. In any event, it is a can't miss.

 

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