Things To Weigh Up Before Moving Out And Into Your First Home

Moving out of home for the first time can be a very big step but it’s one that every young adult has to make eventually.

With property and rental prices only getting higher and higher, it’s enough for hard for younger people to make the leap and move out of home. The financial situation, the changing social mores which have made it more acceptable to live with your parents well into your twenties and the fact that our parents’ homes are invariably far nicer than our own means that people are moving out of their homes far later than they used to. 

Can you actually cook?

Your initial thought here is: ‘of course!’ but, when you live with your parents you often don’t have to cook that many meals for yourself. Of course, you cook the occasional meal on your own but you’re unlikely to be making a variety of meals and dinners to complement a balanced diet and, contrary to popular belief, you can’t survive on pasta, scrambled eggs and take away alone. That being said, it’ll get you a reasonably long way. But, if you’re aiming not to starve to death or develop the sort of scurvy that hasn’t been seen since the days of transatlantic sea journeys.

So, before you make the move, take a few weeks to learn how to make a few simple and nutritious meals. Try out a couple of recipes in your family home where you’re guaranteed to have the right appliances and a friendly face on hand for if things fall to pieces or if your meal turns out terribly. Some great entry-level meals can be found here on Jamie Oliver’s website, with easy meals you can choose meals by ingredients, the number of servings you need, you can even choose one-pot meals (because the real challenge of moving out of home is washing up saucepans in a share house).

Can you afford to live where you’d want?

In Australia, real estate prices have gone absolutely through the roof (pun intended). This means it can be hard to find a property in an area that meets your needs as a neighbourhood. When you’re looking for a place to live, you have to think about the sort of life you could lead in this new place. It’s all about location, location, location. Ask yourself what sort of life you can see yourself living in this new place: will this be where you start a family? Where you begin your career? Is it just a stop-gap measure before you move somewhere else? Will you be living with your friends? Roommates? Partner? What sort of life do you see for yourself within these walls?

Once you’ve answered these questions you’ll be able to figure out what’s important to you when it comes to choosing a suburb. Do you want to be able to walk to work? Do you want to be near friends? In an area known for its restaurants or bars? Do you need to be near good school districts? Are you driven by nature? Do you want to be near bushwalks or the beach? To help choose the area you want to buy in, check out these lists of the most affordable yet livable suburbs in Melbourne and Sydney.

Will you need a home loan?

When buying your first home, you’ll definitely need to investigate taking out a home loan. Even the phrase itself can seem daunting: ‘home loan.’ Though you shouldn’t feel too overwhelmed as you can easily learn more about home loans with informative articles such as this one here. You’ll have to do some research or talk to your bank about whether you’d be best suited to a variable or fixed rate home loan and what sort of repayment schedule is right for you but, once you’ve got that all sorted out, you’ll be well on your way to starting your new life in your new home.