If you want to move out of your parent’s house but can’t afford it, you are not alone.
Whatever age you are, there will come a time and place when living with your parents is just not an option anymore.
Mostly every person will experience a similar feeling of wanting to move out of their parent’s house sometime in life.
I specifically remember wanting to move out of my parent’s house when I got my first paycheck! But realistically, that wasn’t going to happen at age 16.
Thankfully as I got older, I moved out for college for two years, but I knew that having my own place after graduating wasn’t guaranteed. My parents made it very clear that if I wanted to have my own place after college, I would have to do the work myself to make it happen.
After I graduated college, I knew that I’d have to figure out a solid plan. Since I knew that I didn’t want to move back in with my parents, I was ready to hustle to make living away from home happen.
I will share my tips on what you can do to move out of your parents’ house, even if you can’t afford it right now.
If you want to move out of your parent’s house either now or in the future, it is best to start planning it out so that you can be fully prepared when the time comes.
In this article, I will help guide you with how to start planning how to move out.
If you want to move out of your parent’s house but can’t afford it, make sure to try these steps:
- Figure out where you want to move to
- Plan a timeline for moving out
- Create a solid financial plan and budget
- Start taking action towards your goal to move out
1. Figure out where you want to move to
If you want to move out of your parent’s house but have no clue where to start, you will need to begin by figuring out where you want to go.
Do you have a new state or city in mind that you want to move to? Do you want to go somewhere you’ve never been before? Does your friend have an apartment opening up and wants you to move in too?
Whatever the case may be, you should spend some time figuring out where you want to move to rather than going in blind.
Ways to figure out where you want to move can include:
- Watching youtube vlogs and videos about living in a particular area
- Reading other people’s reviews on google and Reddit about their experience living in a specific location
- Researching locations based on interest, price, and area safety
When I decided to move out of my parent’s house, I spent a lot of time watching videos, reading blogs, and learning about San Francisco neighborhoods to figure out what area would be best for me.
I knew that I wanted to be in San Francisco but wasn’t quite sure where to move to. Good thing there are tons of people online that share their experience and want to help!
2. Plan a timeline
Do you know when you want to move out and have a general timeline?
Although you may not know precisely when the right time is to move out, it’s good to start thinking about what your general timeline looks like before moving.
Since we are currently in a global pandemic, it may feel strange to think about the future. If moving out was a dream you had last year, things may have changed since 2020 was a weird year for us all.
Even if we plan, life happens, and sometimes we need to adjust our roadmap. Change is constant!
If you don’t have a plan or timeline for moving out, now is a great time to start.
If you genuinely want to move out as a goal, you will need to start acting towards doing it. The best way to create an actionable timeline is by reviewing your goals and putting specific dates you want to accomplish them by.
If you want to move to a new city and plan on getting a new job, you will want to have a reasonable timeline that allows you to get a new job.
Searching for a new job can take months, so you will have to estimate the time the whole job process takes – including job applying, interviewing, and first start date-time. You should probably give yourself anywhere from 3-5 months to find a new job if you are looking to relocate.
By creating a timeline, you will be better able to map out your goals and will give you a better roadmap to getting there.
First, take out a blank piece of paper or blank document and label it something like “Moving out timeline.” Be sure to include as many details as you can but most importantly, include your ideal date and time!
If you have extra space, you can even try to do a quick visualization tactic. Visualizing can be a simple yet powerful way to make a goal happen.
An easy way to visualize yourself moving out is to get super clear in your mind what moving out will look like to you. Think about and write down all of the details that will happen once you move out – such as your new room color, what your kitchen looks like, where you will be sitting to watch TV (things like this).
Be super specific when visualizing!
3. Create a solid financial plan
If you don’t have a financial plan that will support you moving out, you, unfortunately, won’t be able to make it happen.
When I was researching moving to San Francisco, I knew that I would need to have a pretty decent income and savings to afford the city. San Francisco’s cost is one of the highest in the nations, which is anywhere from 40%- 80% higher than the national average.
After figuring out where you want to move to, you’ll need to get a good idea of the average cost of living in the area. There are many great websites and google results that will help estimate the average cost of living in various locations if you are unsure.
Next, what does your income look like?
Do you have a job? Are you looking for a job? Do you possibly need to start thinking about finding an extra income source? What do your current bills look like?
You will have to start thinking about these things because it takes quite a bit of money to move out on your own.
Having enough money to move out on your own is a crucial part of planning out your next move.
You must save money to move out!
If you don’t have enough money to move out, you may want to consider staying at home to save money, if that is an option for you.
If you are currently living at home with your parents, saving money is one of the best parts of living at home. If you want some positivity on why staying at home can be a good thing for your wallet, read my article about when and why I decided to move back home in “Why Moving Back Home To Save Money Can Actually Be a Good Thing For You.”
What does your current budget look like?
A good rule of thumb for how much you should save to move out is about three times your rent. If your rent is $1,200 per month (excluding utilities and bills), you should aim to have somewhere between $3,600 and $4,000 saved at the least.
On top of monthly rent payments, you will have to consider the additional bills you will have to pay when renting an apartment.
When renting an apartment, you should generally expect to pay an additional one-time security deposit fee, monthly utilities, insurance, and possibly a parking space.
Renting an apartment can add up quickly! If you want to learn more about costs associated with renting an apartment, read my article, “What Bills Do You Pay When Renting an Apartment?”
Once you know what your rent budget should be, start creating a proper budget to understand your overall needs, wants, and spending framework.
If you don’t know how to start a budget, it can be very simple and beneficial. The 50/30/20 budget rule is a great start to figuring out what your budget looks like and how to make it work for your lifestyle.
4. Start taking action
Lastly, if you want to move out of your parent’s house, you should start taking action.
Action will look different for everyone depending on where they are at in life, but you can’t just sit around hoping you’ll be able to move out if you don’t start.
Taking action can be small. Start with something as simple as doing a google search on an ideal place you’d like to move to. If you are trying to get a new job in a new city, start by getting your resume ready to send out. Continue to do small actions each day.
Small actions add up!
If you have a goal to move out and create an actionable and reasonable timeline to go with it, I promise that you’ll be able to move out in no time.
Being able to move out of your parent’s house is a fantastic feeling of independence and freedom. You can do it!
How can I make extra money to move out?
If you concluded that you would need to have a larger income flow while looking at your budget, you will probably need to start making extra money.
Some great ways to make extra money include babysitting, house sitting, pet walking, virtual tutoring, or teaching a language online.
How do I move out of my parent’s house ASAP?
If you need to move out of your parent’s house ASAP due to unforeseen events but can’t afford your own place, you should try to ask a friend or family member if they have extra space for you.
By moving to a friend or family member’s house, you will be able to use the time to prepare better for you to move out.
Closing thoughts
Moving out of your parent’s house can be an exhilarating step in life. Moving out comes with greater individuality, responsibility, and freedom.
However, moving out requires you to be prepared – both logistically and financially. If you are looking to move out but can’t afford it right now, try to implement small steps to help get you to where you want to be. Remember, small steps add up.
Having a solid plan, timeline, and financial budget is key to reaching your goal to move out. You can do it if you put your mind to it and make it happen.
What are you going to do to make your dream of moving out happen? I would love to know.
Ashley is a finance graduate from the University of San Francisco and currently works at a financial technology startup in San Francisco that is focused on providing affordable and accessible 401(k) retirement plans to other startups and small businesses. Prior to working at a startup, she was an associate at a large private wealth management firm working with high-net-worth clients. She is born and raised in Orange County, CA, and loves spending time at the beach, in a pool, reading, and with her friends.
