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That’s it, it’s time and you’re wondering is $5,000 enough to move out of your parent’s house? Saving money is a smart idea, for sure. Because you need money to move out. You have to pay deposits to set up utilities, pay movers or rent a moving van, you’re buying boxes ahead of the move and buying things for your new place when you’re settled.
It’s so smart to be thinking about how much cash you’ll need on hand to move. In this article, we’re going to drill down and uncover if $5K really is enough to move out of your parent’s place.
Is $5,000 Enough to Move Out?
Yes, $5,000 is enough to move out. That’s actually a lot more than many people have saved for an upcoming move, depending on the city.
If you Google “Is $5,000 enough to move out,” you’ll get mixed reviews. This source says having $3,000 to $5,000 saved is a good idea but, other articles say to have 3X the amount of your rent. This could be over $5K, depending on your rent.
Here’s a breakdown of where that $5,000 might go.
Deposit and First Months Rent
$3,000 (if your rent is $1,500 and your deposit is equal to one month’s rent)
$500 (assuming one person is moving)
$1,000 (this is a very conservative estimate for electric, internet, water, gas, cable, and trash)
Extra money on hand
The extra money on hand is a good idea because you never know what could come up. Your moving cost could run over a little or deposits may differ from the above estimate.
There’s also extra costs you might not be considering like:
- Buying small appliances (like a microwave if your new space doesn’t have a microwave included)
- Cords, wires, nails, nuts, bolts for assembly
- Tipping the movers
- Home improvements
- Cleaning fees (like if you wanted to hire maids to deep clean your space before move in)
7 Tips to Move Out of Your Parent’s House with $5,000
Why move out of your parent’s house? It’s time. You’re ready to get your own space and you feel like the time is right. You want independence, privacy, personal space, you want to ditch curfews, or maybe your parents are kicking you out. Whatever the reason, you need to ready yourself for what’s ahead in the moving process.
Here are 7 tips to help you prepare for your upcoming move.
1. Get organized
Getting organized is important when moving because it helps to make the process less stressful and more efficient. When you’re moving, you have a lot of things to do, such as packing your belongings, arranging for transportation, and setting up utilities at your new home.
By getting organized, you can break down these tasks into manageable steps and create a plan to ensure that everything gets done in a timely manner.
Here are some specific reasons why getting organized is important when moving:
- Helps you stay on track: When you have a plan in place, you’re less likely to forget important tasks or overlook something that needs to be done.
- Saves time: By organizing your move, you can eliminate unnecessary steps and streamline the process, which can save you time in the long run.
- Reduces stress: Moving can be a stressful experience, but having a plan in place can help you feel more in control and less overwhelmed.
- Helps you avoid mistakes: When you’re moving, there are a lot of details to keep track of. By getting organized, you can reduce the chances of making mistakes or forgetting something important.
Overall, getting organized is an important part of moving because it can help make the process smoother and less stressful. It can also help you stay on track, save time, and avoid mistakes
2. Start early
I have moved a handful of times in my adult life and many times as a child (I’m a military brat). The biggest thing that can help you through this process is to start early.
My last move was a transition from San Antonio, TX to Houston, TX and boy, was it a trainwreck. The entire process felt extremely overwhelming. I felt like I was all alone although I was moving my entire household and not moving alone. My solution to this was procrastination and it bit me in the butt, big time.
Here’s why starting early will benefit you:
First, you get more time. Obviously, right? More time is great. The more time the better. That means you have more time to look for a new place. You have more time to save. There’s more time to get organized and plan your entire move.
Having time on your side is something you should strive for in this process. Trust me.
- Reduced stress: Moving can be a stressful and overwhelming experience, but starting early can help you avoid last-minute rushing and reduce stress levels.
- More time to plan and prepare: When you start early, you have more time to plan and prepare for your move, which can help you make better decisions and avoid costly mistakes.
- Greater availability of resources: Moving companies and other resources can be in high demand during peak moving season, but by starting early, you have a better chance of securing the services you need.
- More time to declutter: Moving provides a great opportunity to declutter and get rid of items you no longer need or want. Starting early gives you more time to go through your belongings and make decisions about what to keep, sell, or donate.
- Better financial planning: Moving can be expensive, so starting early gives you more time to create a budget, save money, and find ways to reduce costs.
- Smooth transition: Starting early can also help ensure a smooth transition to your new home, as you have more time to set up utilities, update your address, and make other necessary arrangements.
3. Create a moving checklist
Creating a moving checklist is an important step in the moving process because it helps you stay organized and ensures that you don’t forget any important tasks. A checklist is a detailed plan that outlines all the steps you need to take before, during, and after your move. Here are some reasons why creating a moving checklist is important:
- Helps you stay organized: Moving can be overwhelming, but a checklist can help you stay organized and focused. You can break down the process into manageable tasks and prioritize them according to their importance.
- Helps you budget: A checklist can help you budget for your move by including all the expenses you need to consider, such as packing supplies, moving truck rental, and storage fees.
- Helps you avoid forgetting important tasks: With so many things to think about when you’re moving, it’s easy to forget something important. A checklist can help you keep track of all the details, so you don’t forget anything crucial.
- Helps you save time: A moving checklist can help you save time by outlining all the tasks you need to complete and giving you a timeline for completing them. This can help you avoid last-minute rushes and ensure that everything is done on time.
- Helps you reduce stress: Moving can be stressful, but having a checklist can help you feel more in control of the process. By knowing what needs to be done and when, you can reduce the stress associated with moving.
Overall, creating a moving checklist is important because it helps you stay organized, budget effectively, avoid forgetting important tasks, save time, and reduce stress.
4. Save money
Moving can be an expensive process, but there are several ways to save money for an upcoming move. Here are some tips:
- Start planning early: Planning ahead can help you avoid last-minute expenses and give you time to research and compare prices for moving services, packing supplies, and other expenses.
- Declutter and sell unwanted items: The less you have to move, the less expensive it will be. Before you move, declutter your home and sell items that you no longer need or use. You can use online marketplaces, garage sales, or consignment shops to sell your unwanted items.
- Use free or low-cost packing supplies: Instead of buying new packing supplies, try to find free or low-cost alternatives. For example, you can use old newspapers, towels, or blankets to wrap fragile items.
- Compare moving quotes: Get quotes from multiple moving companies and compare prices and services. Look for companies that offer discounts for early booking, off-season moves, or mid-week moves.
- Pack and move on your own: If you have a small move, consider packing and moving your belongings on your own. Renting a moving truck or trailer can be cheaper than hiring a moving company.
- Ask for help: If you have friends or family members who are willing to help you move, take advantage of their offer. You can save money on labor costs by doing the work yourself.
- Use tax deductions: If you’re moving for work, you may be eligible for tax deductions for moving expenses. Check with a tax professional to see if you qualify.
Overall, saving money for an upcoming move requires planning, decluttering, comparing prices, and being resourceful. By following these tips, you can save money and make your move more affordable.
5. Start small
Starting small is a strategy you can take that can make the entire moving process feel less overwhelming and stressful. It’s about taking it little by little. You can set small goals that you fulfill so you feel like you’re getting stuff done as you progress toward moving date.
Here are some ideas for starting small:
Declutter one room at a time: Instead of trying to tackle your entire home at once, start by decluttering one room at a time. This can help you break down the process into smaller, more manageable tasks.
Pack non-essential items first: When you start packing, focus on non-essential items that you won’t need in the immediate future. This can help you avoid feeling overwhelmed by the packing process.
Label boxes as you go: As you pack, label each box with the contents and the room it belongs in. This can help you stay organized and make unpacking easier later on.
Start with a small area: Instead of trying to pack up your entire home, start with a small area, such as a closet or a pantry. This can help you build momentum and make it easier to tackle larger areas later on.
Set a timeline: Set a timeline for your move and break down the tasks you need to complete into smaller, more manageable steps. This can help you stay on track and avoid feeling overwhelmed.
Hire a professional organizer: If you’re feeling overwhelmed by the process of decluttering and packing, consider hiring a professional organizer. They can help you create a plan and provide support throughout the process.
6. Get help from your parents and from friends
Moving can be a daunting process. It’s natural to need help. Turn to family and friends for that support.
When I moved into my house, there were three adults that orchestrated the event (myself included), not counting the movers. I stood at the bottom of my stairs directing the movers what box or piece of furniture went where.
At the same time, the cable/internet setup guys were there and needed direction where the in-home box was and entry to the backyard to dig the connecting wire underground.
Then, I had a third person there, just to fill in any gaps, if I needed another set of hands for connection the refrigerator or washer/dryer, starting to unpack boxes, running to get gatorades for movers and use, ordering pizza for dinner, etc.
It was a big help and that was just on moving day.
Prior to moving day, getting additional help and support to navigate the moving scene can be to your benefit.
7. Keep communication open with your parents
You’re moving out of your parents house. It’s important to keep the lines of communication open.
- Maintain a healthy relationship: Moving out of your parents’ house is a big step, and it can be a significant change for your relationship with your parents. Keeping the lines of communication open can help maintain a healthy relationship and prevent misunderstandings.
- Coordinate logistics: Moving involves a lot of logistics, and keeping the lines of communication open can help coordinate important details such as moving dates, transportation, and storage.
- Discuss expectations: Moving out of your parents’ house means you will have more independence and responsibility. It’s important to discuss expectations and boundaries with your parents, such as how often you’ll visit or how you’ll contribute to household expenses.
- Address concerns: Moving out of your parents’ house can be a significant change for your parents, and they may have concerns or fears about your safety or well-being. Keeping the lines of communication open can help address these concerns and provide reassurance.
- Seek advice and support: Moving out of your parents’ house is a significant life change, and it can be helpful to seek advice and support from your parents as you navigate this transition. Keeping the lines of communication open can facilitate these conversations.
Keeping the lines of communication open when moving out of your parents’ house is important for maintaining a healthy relationship, coordinating logistics, discussing expectations, addressing concerns, and seeking advice and support.
Pros and Cons of Moving Out of Parents House
Here are the pros and cons of moving out of your parents house.
Being on your own is a great feeling. It’s so freeing to finally feel independent. Moving out of your parents’ house allows you to gain more independence and establish yourself as an adult. You’ll have the freedom to make your own decisions and live life on your own terms.
Living on your own means taking on more responsibilities, such as paying bills, cleaning, and cooking for yourself. This can be a great opportunity to develop life skills and become more self-sufficient.
Being on your own is a real opportunity to grow up. You’ll feel the stress of an adult to take care of yourself, manage bills on your own and being responsible for your living space.
Moving out of your parents’ house can be a significant life change that can lead to personal growth and self-discovery. You’ll have the opportunity to explore new interests, make new friends, and learn more about yourself.
Living on your own means having more privacy and autonomy. No more curfews. Nobody looking over your should or you feeling micromanaged by your parents.
You’ll have the freedom to come and go as you please and set your own schedule without having to answer to anyone else.
The cost. Moving out of your parents’ house can be expensive, and you’ll be responsible for paying for rent, utilities, groceries, and other living expenses. This can be a significant financial burden, especially if you’re just starting out in your career.
Living on your own can be lonely at times, especially if you’re used to having the support and company of your family. It’s important to make an effort to stay connected with friends and family to avoid feeling isolated.
Maybe when you lived with your parents, you were responsible for doing the dishes. Living on your own means you’ll do everything: the dishes, dusting, keeping your space tidy and clean, cooking, etc.
Living on your own means taking on all the responsibilities of running a household, including cleaning, cooking, and maintenance. This can be a lot of work, especially if you’re not used to it.
Risk of failure
Moving out of your parents’ house can be a risk, and there’s always the possibility that things won’t work out as planned. You may have to move back home or make other difficult choices if you encounter financial or personal difficulties.
Move Out Checklist
Here’s your move-out checklist which can help you start preparing, starting at 8 weeks out.
8 Weeks Before the Move:
- Research and book a reputable moving company
- Create a budget for your move
- Begin to declutter and get rid of items you no longer need
- Gather packing supplies such as boxes, packing tape, and bubble wrap
6 Weeks Before the Move:
- Notify your landlord if you’re renting or start preparing your home for sale if you’re a homeowner
- Contact utility companies to schedule disconnection and reconnection of services
- Notify relevant service providers (bank, credit card, insurance companies, etc.) of your upcoming move
4 Weeks Before the Move:
- Begin packing non-essential items such as seasonal clothing, decor, and books
- Label boxes with their contents and the room they belong in
- Create an inventory of your belongings
- Start using up perishable food items
2 Weeks Before the Move:
- Confirm the moving date and details with your moving company
- Pack essential items such as toiletries, a change of clothes, and important documents in a separate box
- Notify friends and family of your new address
1 Week Before the Move:
- Confirm all details with the moving company
- Defrost and clean out the fridge and freezer
- Pack a box of essentials for the first night in your new home
- Take apart furniture and disconnect electronics
- Walk through your old home to ensure nothing is left behind
- Provide the movers with your contact information and new address
- Confirm the delivery date and time with your moving company
- Do a final walkthrough of your new home to ensure everything is in place
After the Move:
- Unpack essential items first, followed by non-essential items
- Update your address with relevant organizations and institutions
- Register to vote and get a new driver’s license if necessary
- Enjoy your new home!
Good luck in your upcoming move!