Was your New Year’s resolution to move out on your own? Do you think you are ready to make that big move? It’s a major decision, but even by just considering it, you are showing some readiness. Whether emotional, personal, or financial, there are many things to consider. In order to help you work through your decision, here are five questions to ask yourself before packing that U-haul.
Do you have enough money to pay for rent solo?
Depending on what city you live in, living alone can be doable or extremely difficult. If you are in a city with high rents, you should seriously consider how much you’re willing to sacrifice for your own place. Keep in mind that this will also mean that you have to cough up the security deposit solo, which may deplete your savings. Budget your income and expenses carefully and aim to have at least $100 a week after all your essential expenses (rent, utilities, food, commuting to work, etc.) if you want to be able to enjoy first apartment experience.
Tip: See if your landlord would be willing to lower the security deposit if you’re living alone. Less people = less mess and wear on the apartment.
How stable is your income?
After you calculate that you can afford your rent right now, take an honest look at your work situation. How stable is your employer? How stable is your job? If you get laid off, are there plenty of opportunities for getting a new job? When you sign a lease, the rent will be due every month whether you work or not.
Are you a social person?
So this is kind of Catch-22. Just because you are a social person doesn’t mean you shouldn’t live alone. Similarly, living alone can be even more isolating for someone who is more anti-social. Having your own place should be an opportunity to create a personal haven to come home to – not a cave to hide in and avoid human interaction.
Are you making this decision after an emotional experience?
If you just went through a fight with roommates or your Significant Other, you may want to wait a few days before making any decisions. Although living alone can be extremely liberating, it is still a legal agreement that will keep you tied to that decision for a year or more.
Are you ready to kill the spider?
As silly as this question is, it’s kind of the biggest question. Are you ready to be the person you have to rely on? It means that you’re the one who will have to do the dishes, fix the router, call the exterminator, and yes, kill the spider. It’s a lot of responsibility, but by taking it on you will grow and become someone you never knew you could be.
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