While moving away from home for the first time can be exciting, there are plenty of stresses too. It's a big change and you need to plan, prepare and get organised. We’ve come up with five top questions to ask yourself before you make a final decision
Whether it’s going to university, relocating for a new job, moving in with friends or deciding to set up home with a partner - there comes a time when most young people will want to fly the nest.
It’s been well documented that the cost of housing in London, coupled with difficulties saving for a deposit on a place to buy, mean that young people are staying with their parents for longer. For most, however, the impulse to strike out on their own is still strong.
But while moving away from home for the first time can be exciting, there are plenty of stresses too. It's a big change and you need to plan, prepare and get organised. We’ve come up with five top questions to ask yourself before you make a final decision:
1 Is this the right time for me?
Moving out really is one of those big, life events so don’t make the decision lightly – make sure this is the right time for you.
You may need to move because of problems in your family relationship, a job out of the area or a difficult commute. If you’re moving to gain more independence, think carefully about the costs involved – are you in a position to support yourself financially? Can you afford the rent and everything else on top?
Renting is expensive and, if your aspiration is to buy a place, you will save more money for your deposit by staying put.
2 Are you in control of your finances?
Living on your own for the first time will mean major expense. You’ll be managing your own finances too, and it’s vital you get off to a good start by living within your means – otherwise you’ll be saddled with debt from a young age.
If you’ve never had to do so before, now is the time to start budgeting. You need to prioritise your rent, utility bills and other essentials, while resisting the temptation to use credit to help you get by.
Begin by making a list of all your outgoings and your income. Pull together a weekly and monthly budget for yourself, including your rent, bills, travel and any additional living costs. This may seem like a boring process. But one of the best ways to save money is to keep track of every penny that you spend – there are plenty of apps to help you do it.
3 What will you need for your new home, and what will it cost?
Your head is probably full of ideas for getting your new place just right, but you don’t want to break the bank. If you’re renting, a furnished property might be the easiest option at this stage, but you will still need to buy the basics including crockery, kitchen utensils, bedding and towels. While buying lovely items for your new home is appealing, avoid the temptation to overspend. Supermarkets and department stores do budget ranges aimed at first-time students or try charity shops, that stock homeware, for some real bargains.
4 How will you keep on top of the chores?
Moving out means a big adjustment. You’ll be running a home, shopping and cooking for yourself as well as doing your laundry and keeping the place clean. If you don’t know how, now’s the time to ask. And if you’re not much of a one for cleaning, you’ll find plenty of tips and life hacks on Instagram and YouTube.
Get in the habit of meal planning for the week ahead – it will stop you resorting to costly takeaways or impulse buys. Make lists of your favourite meals and simple midweek staples – invest in some easy-to-follow cook books too.
Whether you are living in shared accommodation or on your own, you need to keep on top of the housework to maintain a pleasant environment and avoid too many arguments – and make sure you’re complying with your tenancy agreement too. Draw up a rota or chores chart stating who will do what and stick to it.
5 What will you do when it all gets too much?
While moving out might feel like a dream come true, it can be overwhelming, so it’s important to have a good support network. If you’re used to having family around you, you’re bound to have the odd day when you’re feeling lonely.
Make sure you reach out to your friends, family and colleagues. Even if you’re feeling fine, keep in touch with your family by calling regularly.
Having your own place can be a great way to stand on your own two feet and join the adult world. If you think the time is right for you, and are interested in renting a place in Central London, contact us
to talk about the properties we have available.