Moving out of your parents’ house is a pretty big step to take. It doesn matter how old you are. You should move out only when you are ready. Obviously not to move out the next day after you met the love of your life. The real question is: are you totally physically and financially ready for this? If you are jobless, unemployed then taking a personal loan doesn’t make it okay for you to move out of your parent’s house. You may get the green light from your parents. But, can you pay the bills, the rent and not struggle to put food on the table? If you do have money issues, then the best is to say no for moving out.
Read also: How to Survive Moving to Another City
When is the time to move out of parents’ house
Wait until you are totally ready and wait for the right time. Go get yourself a job. Work twice as hard. Put aside some money from your salary for saving. Figure out ways to make more and more money. Get the support of your parents and let them know how they can be of helping hand in dealing with money issues. Get as much advice and learn as much from your parents. They know more than you think they are. From life lessons to everything related to finance as they have years of experience. They may not be rich. But their experience is priceless. Put the thought of taking a personal loan on hold and go make lots and lots of money. More money means you are getting closer to moving out.
Read also: Moving is a Beneficial Stress
Don’t rely on personal loans in order to move out of your parent’s house because:
The loans have to be paid back with high interest rates.
Don’t take out much in student loans, either, because they have to be paid back. Only take out student loans very sparingly, for tuition and books at a community college perhaps. Try to propel yourself, with a short education investment (6 months- two years) into a higher paying job or career. Do your research on this choice of careers. Find a job/career goal that has a definite skillset: Nursing, accounting paralegal, dental hygiene, plumbing, sonography, respiratory therapy, dietician, teaching, computer engineering, etc. Some careers take 2 years, some take 4 years.
You can try the two year lesser job/career goal and once you start getting paid a higher salary than the minimum wage job, you can take college courses at night in order to finish your 4 year degree. This will qualify you for a much higher paying job and career.
You need to get a job first and save at least $3–$4K and then move out of parent’s house.
The reason is if you get an apartment with a roommate, you need to sign a lease. You may or may not be lucky and get to move in with established roommates who have already signed a lease agreement.
The rent for a room with bathroom and kitchen privileges varies.
It can be anywhere between $700.00-$1000.00 a month. This is not including utilities. For example, you rent a room from a woman who signed the lease on a three bedroom house. You are not only expected to pay the rent, but also 1/3 of all utilities. You should pay separately for your own food, and have “ownership” of different areas of the refrigerator and freezer. There can also be strict rules about shared cleaning duties. It will soon make you realize that living at home for free and doing expected chores was not such a bad thing when you were younger and with your parents.
You need a savings account, especially if you have a car and/or attend college while working part-time or full-time.
Read also: Moving Into a Studio Apartment
Moving out of your parents’ house is a major decision. It is essential that you consider the impact of moving out. So what are your circumstances? Do you have a job waiting? Can you support yourself and have enough left over to pay back the loan with interest? If you have a good income such a move from your parents’ house is a good idea – but only if you can afford to pay back the loan in a reasonable time. If you need moving help we are ready to provide you with all kinds of moving assistance. Every day around our moving helpers are busy loading rental trucks, moving containers and freight trailers – many for long distance moves. You definitely need the professional equipment when moving from your parents’ house. Don’t be shy to give us a call and we will estimate your move right here and right now.