When Should I Move Out of My Parent’s Home?

Whether you're thinking about going to college or moving in with your significant other, you're probably feeling a mix of excitement and anxiety. Moving out marks a new chapter in your adult life, and the right time to move out is different for everyone. Whether or not moving out of your parent's house goes smoothly depends on the reasons you've decided to move out, your financial situation, and your relationship with your parents. Here's how to decide if it's the right time to move out.

Ask Yourself Why You Want To Move Out

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Young adults decide to move out of their parents' house for a variety of reasons. While some want to live independently or move closer to their place of work or study, others want to move in with their friends or significant other. In some cases, young adults experience conflict with their parents or are asked to leave by their parents.

Regardless of your reasoning, remember that it's normal to feel unsure when making a major life decision like moving out of your parent's house. If you're thinking about moving out in your early 20s, entering the "real world" at a younger age can arm you with life skills, teach you who you are as an individual, and prepare you for adulthood. Meanwhile, others choose to live with their parents until their 30s due to unemployment rates and high living costs.

If none of the above hits home, think about all the Facebook and Instagram posts you're missing out on. After you move into your own place, you'll be able to post pictures of your new apartment on Instagram and invite friends over whenever you want. With the help of a digital photo storage device, you'll be able to show off pictures and videos of your space to friends and family.

Set aside time to ask yourself whether this is your choice, whether you feel ready to live on your own, and whether you're feeling pressured to move out by others.

Consider Your Financial Situation

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Moving out of your parent's house can be expensive, so it's important to consider your financial situation before moving out. According to a Melbourne University study, some young Australians were forced to skip meals and borrow money from parents to survive on their own after moving out.

The cost of living alone can be surprising, especially if your parents typically provide everything. Consequently, if you don't budget your expenses, debt can become an issue.

Ask your parents to help you create a budget to ensure you can cover the essentials, including rent, bills, and groceries. When creating your budget, you should also account for additional expenses, including moving costs, entertainment, and transportation.

Additionally, consider investing in home and contents insurance to cover you in the event of an unfortunate or unforeseen circumstance, which could result in damage to your home and belongings. If you're worried about fitting the cost home insurance into your budget, find cheap home insurance with iSelect. Creating a monthly budget and investing in home and contents insurance can help you avoid financial mishaps and ensure you'll be able to pay bills and rent on time.

Determine Your Priorities

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If you're thinking about moving into a new home or apartment, take the time to create a list of priorities. For instance, you might choose to prioritize rent, location, or safety. It's also important to decide whether distance to your place of work or study is a priority. If you don't own a car, access to public transportation can shorten your commute and help your social life thrive.

Finding your dream home or apartment can take time, but it's important not to rush it. There are multiple websites that you can use to search for a place to live online, and social media can also provide useful connections. Let your friends and family know that you're interested in moving out, and you might be able to score a great deal on rent.

Moving out of your parent's house can be intimidating, especially if it's your first time living on your own. All in all, remember that it's normal to feel unsure about your decision to move out and that it's OK to ask your parents for help.

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