How to Move Out of Your Parents’ House in 9 Easy Steps
So you’ve decided to leave the nest? Congratulations! Moving out of your parents’ house is a big deal. It’s a process that requires plenty of careful planning, consideration and “adulting” (as they say). To help you successfully move out of your parents’ home, we’ve put together 9 easy steps that are sure to help you achieve the independence you want. Good luck and happy moving!
Develop a move out plan
Before moving out of your parents’ house, come up with a moving plan that both you and your parents can agree upon. I recommend coming up with a goal date for when you think you will be able to move out. This doesn’t mean you have to move out by this date, but it is a starting point for you and your parents. Setting a goal move out date will give you that extra push (and bit of pressure) sometimes needed to get moving on a plan.
Establish good credit
If you haven’t already established good credit, now’s the time to start. For those who want to purchase a home, be aware that a less than stellar credit score (or no credit score) means you’re less likely to obtain a home loan from a bank. If you’re unable to get a loan from a mortgage lender, you can kiss home-ownership goodbye (at least for now.). If you plan to rent, your credit history will also be important. Many landlords and property managers now run credit checks on rental applicants. By assessing a potential renter’s credit history, the landlord can get a good idea of whether or not the applicant pays bills and rent on time. Of course, those planning to rent without credit can usually have a co-signer, such as a relative with good credit, sign the lease as well. However, it’s a good idea to start building a healthy credit score in the meantime.
Start saving money for a down payment
If you’re planning to purchase a home, you’re going to need enough money in the bank for a down payment. To get there, I suggest coming up with a savings plan that is realistic and reasonable. Tip: this is may be the time to hone in on unnecessary spending. From temporarily cancelling a gym membership and cooking at home to cutting back on shopping and travel expenses, there are a number of easy ways to save money.
Determine your budget
Now it’s time to crunch the numbers. If you’re planning to rent, your current monthly income should be more than enough to comfortably cover rental expenses, including the rent, utilities, rental insurance and others. If you’re planning to buy a home, I recommend speaking with a mortgage broker to determine how much house you can afford to buy. These brokers will take your gross annual income, credit history and debt (among other things) into consideration to figure out how much lenders will be willing to loan you. Once you have a pre-approval letter, give careful consideration to a potential new home’s monthly mortgage payment, utilities, insurance, condo fees, property taxes, moving expenses and more. To avoid feeling “house poor,” I recommend purchasing a home that you can actually afford – and not one that stretches the budget.
Find a Realtor
After you’ve determined your budget and saved up enough money for a down payment, start looking for a reputable Realtor. If this is the first time you’ve ever purchased a home, enlisting a qualified and helpful Realtor is especially important. In addition to a real estate agent’s deep knowledge of the market, they also handle all negotiations and paperwork so you don’t have to. The right Realtor should be able to walk you through the home buying process – keeping your interests, needs and budget top of mind. To enlist a top-notch buyer’s agent to show you around, check Realtor.com’s extensive list of local Realtors.
Schedule the movers or enlist friends and donate, sell items that you don’t need
Unless you have very little to move, I recommend enlisting either friends or professionals to assist with the move. If enlisting friends for a DIY move, consider renting a moving truck from a reputable company. If you’re hoping to hire professionals to help with part of the move, consider enlisting labor-only movers to assist with loading and unloading the rental truck. This will most certainly be less expensive than hiring full-service movers to handle the entire move for you. Have too much stuff? If your closets are overflowing, it may be time to get rid of your belongings before you move. After all, the less stuff you have to move, the easier (and cheaper) your move will be. Try donating gently-used items to local charities and consigning nicer items to local consignment stores. Also, consider throwing a garage sale or selling belongings via an online marketplace.
Find packing supplies & pack
From boxes and tape to bubble wrap and foam pouches, you’re going to need to find appropriate packing supplies to help with your next move. Fortunately, packing supplies can be found online, as well as at your workplace, nearby libraries, large retailers and more. After gathering your supplies, it’s time to get packin’! I suggest packing non-essentials (those items you won’t need in the coming weeks) first. Examples are seasonal clothing, knick knacks, photos, books, etc. The day before you move, pack essentials, such as toiletries, pajamas, prescription meds, etc, in a separate box that can easily be found on moving day. Make sure to clearly label all boxes and keep important documents with you at all times.
Set up utilities and cable and change your address
News flash: if you’ve been living with your parents, you’ve been using their utilities. Unless you want to walk into a dark home with no electricity, you’ll need to set up utilities and cable in your new place as soon as possible. I recommend calling the utility companies early on to let them know when you’ll be moving in. Once you’ve scheduled dates for all utilities to be turned on, you’ll need to call the cable company to reserve an installation date as well. Unless you want your parents receiving your mail, I suggest changing your address ASAP. Fortunately, its pretty simple. All you have to do is choose the date that you wish to begin forwarding your mail. Don’t forget to also change your credit card billing address and let your bank know that you’re moving. To avoid confusion, it may also be helpful to send out an email to friends and family with your new address.
Pop the champagne
You did it! After saving your money and packing your bags, you’ve successfully moved out of your parents’ house and into your new place. Congratulations! This newfound freedom was certainly worth every tedious step along the way.
Ready to move?
To find a trustworthy moving company, contact Charles for a extensive network of reputable and reliable movers – all licensed and insured. By choosing a reputable and reliable mover, you can rest assured that your move will be in good hands.