It’s that exciting time in every adult’s life – it’s time to move out of the house! Whether you’re going off to college or just getting your first apartment with friends or family members, you are going to have a lot of details and info on your mind in the meantime. How can you be sure that you have everything ready to go?
As you think about this, you may be looking at details like how you’ll hire movers cost of various resources, and whatever else you need to be able to take care of. In this article, we’ll help you to figure out how much cash you’ll need in order to move and whether or not you’ll have enough cash to be able to move when all is said and done.
How Much Money Should You Have Saved Up Before You Move Out?
The amount of money that you need to have saved before you move out is going to vary based on where you live, where you’re headed, and whether or not you’re going to have a job waiting for you when you move. Here are some of the questions that you’ll want to go ahead and ask yourself when you start looking at whether or not moving out is right for you.
One of the most common replies you will hear to this question is “at least 3 months of expenses” or “at least 3 months of salary,” or “at least 3 months of rent.” But, when you’re first in the workforce, you may find it difficult to adhere to this rule. Instead, you’ll want to go ahead and focus on having $1000 to $2000 set aside for emergencies. This will provide you with the buffer that you need and give you some wiggle room if something unexpected comes up and you need to pay for it right now.
In short, you want to save up as much as you can before moving day. The more money that you have on hand, the easier it will be for you to take care of issues and the better it will be for you when it comes time to work out the details of everything that needs to be done.
What is the Average Cost of Moving Out?
The average cost of moving out can vary based on a variety of factors; the main factors are related to just how far you plan on moving from your current home. If you’re staying local, then you’re looking at an average moving cost of around $1200. Here is what goes into that calculation.
- Renting the item that you’ll be using – whether a van, truck or moving container.
- Paying your movers. Most moving companies have an hourly rate for their local moving services.
- Even if you don’t hire a moving company, you’ll find that you’ll want to feed your family and friends. You’ll also want to provide them with stuff to drink while they’re helping you out.
- How far you’re moving – you’ll have to pay for gas if you’re doing it yourself.
- Any moving supplies that you’ll need to purchase in order to pack properly.
If you’re looking at a long-distance move (typically a move that is going to be over 100 miles from where you live right now), then it’s likely that you’ll be looking at something that costs $5,000 or more. Here are some of the costs that may be affiliated with a long-distance move.
- Many moving companies will make you pay based on how much stuff you’re moving from place to place. This may be done by a number of bedrooms, weight, or a combination of both of these.
- The distance of your move is also calculated as part of the moving cost that you’ll put together.
- Loading and unloading services; and packing and unpacking services (both carry additional fees).
- Your car transportation and/or your own transportation to your new location.
- Any storage services you may require.
So, as you can see, there are a lot of details involved in the cost of your move. If you’re looking for estimates, you can use our estimate tool in order to get a better idea of approximately how much you’re going to have to pay to get moved out. Then, you can use that in order to put together a budget and start saving up so that your move-out plans don’t end up causing you additional financial stress and strain as time goes on.
Can I Afford to Move Out?
Not sure if you can afford to move out quite yet? There are a lot of factors that come into play regarding your move-out aspirations, so you want to be sure that you explore it from every angle that you can. Need some help determining whether or not your budget is solid enough for you to move out of your parents’ home? Here are some questions that you may want to ask yourself!
- How much money will I be making on a weekly/biweekly/monthly basis?
- What utilities am I going to have to pay for after I move out (electric, gas, water/sewer/trash, etc.)?
- How much food will I be eating and what type of food will I need to buy? Do you have special dietary needs that could make your food bill much more expensive?
- If you’re going to college, how will you pay for your academic costs as they arise?
- Medical costs are a big concern for many in the United States. Will you be able to stay on your parents’ insurance, and if not, how will you take care of paying a monthly premium?
- Do you have deposits ready? Almost any landlord will require you to put down some sort of housing deposit (first month’s rent is typical; sometimes first and last month’s rent). And, in some cases, your utilities may also have deposits associated with them.
- Are you ready to take care of your lawn on your own, if necessary? Do you have the tools you need to make sure that it’s done correctly?
- Do you have furniture available, or do you have money set aside so that you can get the furniture that you need? And what if you need to supply your own washer and/or dryer for the space?
How will you get from place to place? If you have a vehicle, you are now in charge of taking care of repairs, maintenance, insurance, and whatever else may be necessary to keep the car on the road. If you’re using public transportation, then you will have to pay the associated fees to use it.
Asking yourself these questions can help you to put together some sort of budget, which you’ll then be able to use in order to make more decisions and see what makes the most sense in regards to your needs. In some cases, it could be the tipping point that you’ll need in order to decide whether or not now is the time to move out.
What is a Good Age to Move Out?
The answer to this is going to be different for everyone, so you want to be sure that you explore questions and sort out what it is that most essential for you to consider. The average age for moving out of your parents’ home nowadays is between 23 and 26, but some factors may cause you to move out more quickly or more slowly.
- Are you done with schooling? If you haven’t completed your educational aspirations yet, then you may want to consider staying home until you’re done with those.
- Do you have a difficult relationship with your family? Then you may be thinking about moving out sooner than later.
- Do you have a game plan for moving out? Do you feel confident when answering all of the other questions that we’ve talked about in this article? Then you may be the right age to move out.
Obviously, you have to adhere to state and local laws when you’re exploring your options – most states have restrictions on how early you can move out. Also, try not to move out without a plan in place regarding where you’ll live and how you’ll pay for things – it will reduce your stress and make you feel much better about what it is that you’re doing with your life.
As you can see, there are a lot of different angles that you need to explore in order to ensure that you know exactly what you’re getting into when it comes time to move out of your parents’ home. See what you can learn, and then get in touch with our team at iMoving. We are here to help you out and give you a hand with everything that you’re exploring in relation to moving. Let us help you to find the best movers in your area and set everything up so that your move goes smoothly.