You’ve waited your entire life for this moment. This is the year when you leap out of the nest and start your adult life. Your first relocation will be one of the most challenging experiences you’ve faced thus far, but it’ll also be thrilling. Even so, your first move needn’t be a difficult experience. Let’s look at a few ways to ease your evolution into adulthood.
Choose the Best Time
You’d be forgiven for wanting to move out of home at 18, but experts suggest that most adults only make the leap in their 20s. The median age is 19, but your emotions are an excellent sign of your readiness. Anxiety is a part of the relocation experience. Next to divorce and retirement, it’s right at the top of the Holmes-Rahe Stress Scale. If the idea of relocating fills you with terror rather than anxiety, your intuition might be warning you that this is a bad time to move.
Your first home will require a lot from you. Financial independence is expensive. You’ll also need to be prepared for the emotional labor involved in managing your responsibilities. Those duties demand a mature and responsible outlook. Moving too early could saddle you with an ailing credit score and mental health woes. Your first move should support a good quality of life, and if you don’t have the maturity to create one, it might be best to wait another year or two. You’re probably ready to move if:
- You have the savings and earnings to cover your bills.
- Your debts are under control.
- You have emergency savings to fall back on if things go awry.
- You can cover your rental fees, deposits, and renters insurance.
- You no longer rely on your parents to exercise discipline over your life.
Make Sure You Have a Reliable Income
Few teenagers understand what it takes to achieve financial security, so creating a budget is essential. Your income will need to support your debt repayments, rent, day-to-day expenses, and medical bills. Make sure you have what you need before you sign that lease. Independence gives you absolute freedom over your funds. That’s not a benefit but a responsibility. Handle it poorly, and you’ll spend years repairing your broken credit score. You’ll need a solid budget that incorporates:
- Car repayments
- Medical insurance
- Gym memberships
- Transportation costs
- Groceries and clothing
- Internet service providers and connections
- Vehicle repairs and maintenance
It’s also advisable to keep an emergency fund and property insurance to cover unexpected expenses.
Get a Realistic View of the Rental Market
The rental market is infested with sharks that want nothing more than to overcharge unwitting tenants. Before you pack the first box, understand the rates and rental prices in your area. Living costs vary, too, so adjust your budget to local disparities. The Consumer Price Index will tell you what to expect from your monthly budget in a new town. Zillow is another helpful tool that will give you an idea of realistic rentals by neighborhood. Don’t be afraid to negotiate a better rental price with your realtor. Good tenants are worth their weight in reduced fees.
Get to Know How Rentals Work
Rentals are typically accompanied by a security deposit, signed lease, and application form. Your potential lessor will begin with your rental application, which an examination of your credit report will follow. You might have to pay a small fee for processing costs, whether or not you’re approved as a tenant. You’ll pay your rent at the beginning of each rental period, but a security deposit will accompany that during your first month. The latter is usually the equivalent of your monthly rent. Some lessors expect their tenants to pay both the first and last month’s rent before the lease starts. This is illegal in some states, so be sure to check the law in your area. If you’re using a moving company like Black Tie Moving, you’ll need to include those fees. Fortunately, we offer customized quotes that vary by the size of your move, so you’ll never pay for services you never use.
Ask Your Parents for Help
Parents are exceptional at adulting, so don’t be scared to ask for their advice. They’ve probably signed their fair share of insurance policies and rental agreements. They’ll also be able to give you the emotional support you need to make your first move easier.
Nobody gets their first relocation right the first time, but that’s what Black Tie Moving is here for. With us on your side, you can lean on your moving concierge and packers to make light work of the challenges. Once you’ve moved your last box, the exhilaration will make all that stress worthwhile.
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