Moving out?

Question

what can i do to prepare my self to move out? what stuff will i have to pay for? how much money should i save? im planning to move in a year and a half.

Answer 1

You won't have to pay for what is know as "normal wear and tear", i.e. wearing to rugs, stains on paint, scratches and nicks that occur normally over time.

You will be responsible for damage that occured - holes in walls, broken doors, damaged appliances, etc.

Financial specialists all agree that we should always have, at a minimum, 6-months of living expenses saved up. I would recommend having a year. Imagine the choices you could make if you knew that whatever happened, you would have a year to recover/change course!

Answer 2

1. Assume that you will be making about what you are making now. Make a budget if you haven't already, so that you can determine how much a month you can afford.
2, Consider rent (unless you buy, in which case you'll have a mortgage instead). Also consider all utilities - gas, electric, fuel oil, propane, water, sewer, cable, telephone, maintenance (as a utility - if you rent, it's built into the rent) - not all of them may apply, but prepare for them just in case.
3. Don't forget moving costs: buying packing material (special boxes such as wardrobes, mirror boxes, wrapping paper for glass ware, dishes, lamps, etc., truck rental, feeding the friends who help you move OR the cost of a professional mover.
4. Start NOW to weed out stuff that you don't want to take with you. Manage the disposal - prepare for sale those items you think have a market. Give away those things you no longer want but know the less fortunate can use. Throw out paper you no longer need - old magazines, newspapers, etc. Carefully review your financial records to identify which could be shredded and then either burned or trashed / recycled.
5. Plan for new items you will need to acquire once you move. Will you be taking dishes / kitchen tools with you or need to buy them? Will you be taking lamps? Do NOT assume that your new living space will have (adequate) lighting anywhere but in the kitchen and bathroom. Will you be taking wraps - Al foil, plastic wraps, baggies - or buying new? Waste paper / trash cans? (I've lived in my apt for almost 4 years and still have an inadequate trash can in the kitchen)
6. IF you plan to buy instead of rent consider the following points:
a. Generally, 20% down payment avoids PMI, which is an absolute rip off. Take out a second mortgage to avoid the PMI, if need be. Even if you pay the PMI on the 2nd mortgage, since you are insuring a smaller amount, it will cost less.
b. Allocate 10% of the purchase price to closing costs, in addition to the down payment. Pays lawyer fees, miscellaneous fees to obtain homeowners insurance (and the 1st year's premium of the homeowners insurance), HOA or Condo fee prepayments, etc etc. You can talk to a realtor about what a closing / settlement sheet looks like to get an idea of what the charges are.
c. Assume that no matter how much the house seems to be in 'move-in' condition, once you move in, you will want to do 'projects' to make the home more 'yours'. Allow 5% of the purchase price for cosmetic work, more if there is mechanical / structural changes you want to make.

Change is not easy, but it can definitely be for the good. It's a big adventure.

Answer 3

save money; scout out neighborhoods and rents; monthly bills might include electricity, natural gas (or propane), water and trash, cable/satellite television, food, gasoline, car insurance, health insurance (if you don't already have a plan for yourself), laundry/dry cleaning expenses, clothing, auto repair (if you have a car), registration if you have a car, food, medications for allergies or incidental infections. Just the short list.

Answer 4

you should have at least three mounths worth of money saved to cover your expenses and what not as well as you did not specafie if you were in job transition or not so its tuff to really answer in good detail