Deciding When to Move Out

Deciding when to move out of your family home is extremely hard and is one of the biggest decisions of your young life. Some people know exactly when the time is right to leave, whilst others are unsure if they are ready or not. Although there is no definitive answer as to when to move out, there are certain factors you should consider before you make a decision. Weighing up the pros and cons of freedom versus extra expense and responsibility is tough, and so here are a list of things you should think about before deciding whether the time is right to ‘fly the nest’.

Renting the Best Answer

For most people, moving out of their family home means moving into rental accommodation. Although buying a house might seem like a good idea, it is extremely costly and will not be an option for many people. Even if you can afford to buy a property, you are better off renting at first to get used to living away from your family and looking after yourself. This also gives you the flexibility to move around more, which is something you are likely to do in the first few years after you move out.

Sharing a Property

Do you want to live on your own or with other people? If you are looking to move out, then this is one of the things you need to consider before doing so. Whilst living on your own might seem the best way to experience independence, it can be more costly and very lonely. If you are going to move out then the best solution is to move in with friends or a partner. This will make the transition of moving out easier, and allow you to have support and a level of independence at the same time. If you are going to share a property, then you can either move in to an already established shared property or move into a new property with a group of people. Either way, you need to think about whom you are going to move in with and what your rights will be as a tenant.

The Costs of Moving Out

One of the biggest factors to consider when you are deciding to move out is whether or not you can afford the costs of living. Having enough for rent alone is not enough – there are many other costs to consider. You should think about:

• A deposit
• Council tax
• Utility bills (gas, electricity, water, telephone)
• Insurance
• Travel
• Food
• Clothing and socialising

Create a detailed budget that includes all of these items so that you have a good idea of how much it is going to cost you to move out. Whether or not you can afford to meet these financial demands can be the deciding factor as to whether you move out or not.

Are You Ready?

If you budget well and find that you can afford to move out, then what next? Well, you need to think long and hard about whether or not you are ready to move away from home and set up on your own. Of course, we all feel like we need our independence and that moving away is a good idea, but this isn’t always the case. If staying at home for a longer time will help you financially and allow you to focus on your career or studies better, then consider staying longer. Only you can know when the time is right to move out – just plan well and understand the challenges you will need to face before doing so and you will be fine.