Moving Out--a Handy Guide to Leaving the Nest

Moving to a new homeBy Julie DeLong, A-1 Freeman Moving Group 

In the past, young adults could hardly wait to get out of the "nest". As recently as 2005, 75% in the 18-34 crowd had moved out. Fast forward to 2015, and fully one third of that group was still living at home--and the popularity keeps growing.

Why are so many aging millennials and Gen Xers unwilling to leave the nest? There are many variables, but mainly, moving out to Atlanta is costly--it is lots of up-front funds outlay which demands a couple of months of saving to get all the money together. At times, parents might aid in costs, however if you're questioning how much cash you need to move out, and the way to take action, here is how to get going.

What's Your Budget?

To start with, what amount could you afford to spend in expenditures every month? The general rule is that a maximum of 30% of your gross (prior to taxes) monthly income should go to rent payments. Then you must look at the price of utilities--electricity, internet, water, gas--and food items, and remember your other regular monthly costs--gas, clothing, leisure activities, gym--when you happen to be budgeting.

Do You Want To Have A Roommate?

Roommates are good for various factors. At the least, they're somebody to share bills. In reality, two- or three-bedroom rentals are often substantially cheaper than a one bedroom, should you have roommates. Various areas have rentals where every roommate carries a separate lease (these are popular in college communities) so you will not be responsible for the entire rent in the event a roomie loses their job.

Roommates are also nice to have should you be moving to a unfamiliar place and don't know anybody, and if you get sick it can be useful to have somebody bring you chicken soup, or at least contact your mom.

What Are the Costs in Getting an Apartment?

Getting an apartment is not cheap. There are application fees, admin charges, and deposits to pay--all right away.

· Application fees handle the expenses of running credit history and background records searches on potential renters

· Admin fees pay the office charges to run the checks whilst keeping the office humming--that 24/7 maintenance hotline, for instance

· Deposits are needed once you sign the lease. The total differs based on what section of the country you reside in, plan on at least one month’s rent, possibly two.

· Utility companies could need a deposit if you have never had service in your name. In the event your parents have service with the same providers, they may be allowed to co-sign for you to steer clear of shelling out a deposit.

· Furniture is often a hidden expense--you will need to have at the least a bed and dresser and a chair, but most folks want to live like adults--couches, coffee tables, barstools, along with a big screen Television. This is the time Great-Aunt Mabel's couch isn't going to appear too terrible, after all. You should begin with the essentials and add to your home furnishings and accessories as finances permit. Roommates can also be helpful for adding their own things to the apartment--with the right roommates (the ones with hoarder mothers) you can have the place looking ready for an Architectural Digest shoot in the week.

· Moving is yet another expense which can be marginal or expensive. Local moves might be cheap, if you've got access to a large truck and possibly rent a moving van; if you are urban and car-less, you will want to price out a moving company in Atlanta.

This is a new year--get started looking at apartments, chat up friends about living together, as well as open up a savings account and sock moving to Atlanta money away on a monthly basis. It's time to do your own adulting--moving out is an excellent first step.

Mothers and fathers, you can send this hyperlink to your adult children. Or do it old-school and print it, then simply stick it on the refrigerator. In any event, it is a can't miss.

 

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