You’re ready to fly the coop out of your parent’s home. Good for you!
In this exciting leap of faith in your life, it’s important to be smart about the realities of doing so.
Whether you’re looking to rent alone or with roommates or buy a home alone or along with someone else, this guide is for you.
Read more from the Perth real estate agency, Pro Property Group, for what you should consider when moving out of home for the first time.
Can you afford to move out of home?
This is the all or nothing question that determines if/when many of us can move out of home.
If you have a regular stream of income, the benefits of a stable job and some savings, then you put yourself closer to the goal of moving out of home.
Of course, how much savings you have, and your employment situation will also influence whether you rent or buy.
Some questions to ask yourself:
- Do I have enough money to cover rent and bills OR a deposit, bills and mortgage repayments?
- Do I have some money to fall back on in case of emergencies? Aka a safety net.
- Do I have money for all the first-time moving out things like furniture, towels, kitchen utensils and the like? Or will my parents help me get set up?
- Do I have someone willing to move in with me to help with bills, rent or repayments?
Work out a precise budget for yourself, ensuring you’re fully financially independent before you set the wheels in motion. All your previous endeavours to save for this moment should be paying off.
So, what next? Research real estate agencies in Perth to get a feel for what properties are out there and what tick most (if not all) of your boxes.
What are your must-haves?
Consider your must-haves in a property, and then consider what you can compromise on.
Remember, it’s your first time out of the comfort of your childhood or parent’s home. It doesn’t have to be lavish and luxurious.
Consider these specifics:
- The location of the property in proximity to your work, school, other amenities and loved ones,
- Do you want your own space or are you willing to (or want to) have roommates?
- Is there safe and secure parking? Or is public transport ‘a stone’s throw away?’
Now decide upon what can be compromised on in your first move out of home. Do you really need to have a two-storey mansion like your parents if it’s just you? Do you need pool?
One thing you shouldn’t compromise on, whether you’re moving out to rent or buy for the first time, is a professional real estate agency in Perth.
Thought Leaders Real Estate are here for you
Thought Leaders Real Estate can help you find the best property for you to rent or buy.
We’ll help make the process easier, ensuring your obligations and needs are being met and not putting a dampener on this exciting chapter in your life.
Contact Pro Property Group today to find the best property for your specific needs.
