Being ready to move out

guitarintro · #1 8th October 2012, 06:22 PM

I am currently 25, got my degree a few years ago and now my loan with the government is paid off. Got a pretty good job and looking to move up and I am considering it's time to be ready to move out in a couple years or so.

Thing is, I never lived on my own for longer than a month, so I was wondering what are some things I need to do today to make myself more independent. Moving out is something everyone has to go through and I just want to feel equipped.

BFine · #2 8th October 2012, 06:28 PM

Since you live in Canada (like I do)-- I would stay put and build yourself
up a nest egg that is equivalent to a year's salary. If you have that already,
then look around and find an area where you can live without breaking the bank.

Make a list of what you require in a new home for yourself.

Find a realtor to help you in your search for new digs.
Take your time and be thorough in checking out the location, the home, neighbors
etc.
Take notes!

If you are in a serious relationship that is leading towards marriage-- get her input!

guitarintro · #3 8th October 2012, 09:30 PM

Originally Posted by BFine

Since you live in Canada (like I do)-- I would stay put and build yourself
up a nest egg that is equivalent to a year's salary. If you have that already,
then look around and find an area where you can live without breaking the bank.

Make a list of what you require in a new home for yourself.

Find a realtor to help you in your search for new digs.
Take your time and be thorough in checking out the location, the home, neighbors
etc.
Take notes!

If you are in a serious relationship that is leading towards marriage-- get her input!

Not in a relationship yet, but there is interest!

I have a bit saved up, but not as much as my annual salary. Is that really necessary?

I mean, your savings will be depleted once you do a downpayment on a house/apartment anyways!

parsley · #4 8th October 2012, 10:19 PM

Very cool!
It's great that things are working out for you. As BFine said, make sure you have a cushion in case anything unexpected costs more than you planned. People have auto breakdowns, illnesses that keep them out of work, tornadoes etc.

When you get an apartment, you will probably need to pay the first month's rent, maybe the last month's rent, and security deposit. In the old days less was required, but landlords find more need to cover their losses these days.

You will need to order your own internet and cable (if), and ask if hook-ups are already installed. Usually they are, unless you are renting a house in less populated area.

Phone... you might already have that.

Laundry -- don't take that for granted. It's a pain to walk your dirty clothes to a laundromat and stand around waiting in a noisy room.

Utilities -- ask to see a previous bill, as some people may lie or hedge the question. Gas, electric together, and water. Water is cheap.

Garbage collection -- sometimes city covers, sometimes landlord, sometimes tenant. Not too expensive.

Forwarding address -- tell the PO where to send your mail. Contact a zillion companies where you gave your current address, and tell your friends & family.

Paper goods -- don't forget to buy them before you sleep there the first night. (-;

If you are in a serious relationship that is leading towards marriage-- get her input!

You said it.

Avniel · #5 9th October 2012, 12:14 AM

Have money to buy don't do rent condo or apartment

BFine · #6 9th October 2012, 12:19 AM

You aren't using that money for your down payment-- that's a separate
fund entirely.

The year's wages is for REAL hard times-- you should have a down payment
on hand for monthly rental and getting your place done to suit "you"....you
get that money from your rainy day fund.
You know what stuff costs in Canada-- if not
go take a good look at appliances, TV's, DVD players, etc. so you will have
a good idea about that sort of thing.

BFine · #7 9th October 2012, 12:25 AM

Personally speaking, I shared a home with my mother until I got married in 2002.
I came into the marriage debt-free.

By 2009 I had gotten my husband on board and we paid down his big debt
and when we sold (at a profit) we bought the place we live in for cash-- no
more mortgage.

Our biggest debt now is our car payment, we got it (the car)modified to suit him because
of his leg being amputated due to an industrial accident and he was on-going
issues with it and now his other leg is problematic-- his knee is bone on bone.

xfreakazoidx · #8 9th October 2012, 12:51 AM

When I marry my fiance (shes not from america) we will be living at my parents until she is settled here and finds work. Then we will try and move out. In todays economy its to hard to be able to instantly move out whether your single or not.

Avniel · #9 9th October 2012, 01:09 AM

Originally Posted by xfreakazoidx

When I marry my fiance (shes not from america) we will be living at my parents until she is settled here and finds work. Then we will try and move out. In todays economy its to hard to be able to instantly move out whether your single or not.

I don't recommend that you should go in a marriage on an equal playing field