Gone are the days of moving out in your teens and owning a home by your early twenties! Due to rising housing costs and lower marriage rates, it’s no secret that today’s young adults are choosing to stay at home longer.
If you’re a young adult living at home you’re not alone. According to 2020 US Census data, an estimated 34% of adults 25-34 live in a shared household — a home with at least one additional adult who is not the householder or their cohabiting partner. However, just because you’re part of a growing demographic of adults living in shared homes doesn’t mean you want to stay there forever!
The prospect of leaving home can be exciting: moving out comes with newfound freedom, privacy, and responsibility. But, you may find yourself asking, “When should I move out of my parent’s house”?
While there’s no clear-cut, one-size-fits-all answer, this guide can help you figure out if you’re ready to take the plunge.
1. Identify Why You’re Living at Home
Whether you’ve been saving up or simply enjoying the comfort of being with your family, there are plenty of reasons why young adults choose to stay at home. The first step in deciding if you should move out is to examine your circumstances and determine why you’ve chosen to stay.
You may have chosen to stay at home:
- to eliminate or reduce living costs while pursuing higher education
- to weather changes in employment status or income
- to save money while paying off significant debts — like student loans — or improve your credit scores
- to serve as a caretaker for one or both of your parents (or you may require care yourself)
- because the cost of housing is too burdensome to take on with a single income
If one of these reasons — or another — has been keeping you, then it’s time to reevaluate and determine whether or not your circumstances have changed.
2. Do You Know Why You’d Like to Move Out?
If you find yourself constantly saying, “I want to move out of my parents’ house”, then it’s time to figure out why.
You may want to move out:
- to break free of household rules, curfews, chores, or responsibilities
- to have more privacy
- To avoid conflict
- to be closer to work, school, or another critical location
- to move in with friends or a significant other
- to road-test independence and self-reliance
If not, it could be that you’ve met a goal — like saving up, eliminating debt, or graduating college — and now you’re ready to move on. But, if this is a fleeting feeling (or you’ve just had a heated argument with a family member) pump the brakes and think about it first.
3. Have You Weighed the Pros and Cons?
Now that you’re clear on why you want to move and what you’re hoping to gain by moving out, create a list of pros and cons. Reflecting on why you want to get your own place and what you hope to gain from moving out can help you find some much-needed clarity.
You should aim to create a list of pros and cons for both staying and leaving. Get specific but try to remain objective. You don’t want to make an impulsive decision to leave that will be difficult to undo!
4. Have You Created a Realistic and Comprehensive Budget?
Before you move out, ask yourself, “Can I afford to move out of my parent’s house”? Find out how much to save before moving out by creating a budget. Identify the costs of living outside of the family home and include existing costs as well. Figure out where and how you’d like to live, what you’ll need to furnish and outfit your apartment, how much it will all cost, and whether or not you can afford to move out at the moment.
If you’re a first-time apartment renter and afraid of becoming homesick, browse through short-term apartments and furniture rental options to get what you need for your first apartment without having to commit to a long-term investment.
5. Do You Have a Move Out Game Plan?
Now that you’ve gone through the pros and cons, you may have decided to move forward with moving out soon or postpone for a while. Either way, take this opportunity to create a game plan to tackle any barriers — like savings, poor credit, or an eviction on your record.
Even if you’re not ready to move out quite yet, taking steps now to address these issues will help you be better prepared when you decide you are ready.
The best place to get started is with SMART goals — or goals that are Specific, Measurable, Achievable, Relevant, and Time-Bound. Once you’ve created realistic goals to complete within a reasonable amount of time, you can set your potential move-out date!
Continue to work towards your goals and check things off your list, and you’ll feel confident and prepared when the time comes to move into your own place.
Find a New Lease on Life with ApartmentSearch
Moving away from home is an exciting transition and, at times, a stressful one. Luckily, ApartmentSearch is here to help you tackle this new life stage! Our advanced filters make it easy to find the perfect first apartment, whether that’s a short-term studio or a pre-furnished one bedroom! Plan your next step with ApartmentSearch.
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