Life after university: seven tips for home hunting after leaving the dorm

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Life after university is getting closer. Here are a few things to consider before you graduate and begin home hunting.

The initial move-out

Some students choose to leave their dorm room and move back home.

Living rent-free while you work will help you save money and give you time to create an action plan. Return to the nest if possible.

TO RENT OR BUY, THAT IS THE QUESTION

Research rentals in your area to get an idea of how much you will need to have for first and last months’ rent. Make sure your income will allow you to cover fixed and variable expenses each month.

If you are going to buy, speak to a mortgage broker or realtor.  They have knowledge of the current market, can help you determine what you can afford, and engage in negotiations, etc.

DETERMINE A BUDGET AND SAVE

Once you have done research you can determine your budget and save. Remember, frugal days are ahead.

Make a budget and stick to it.  Work. Save. Repeat.

Setting a GOAL DATE 

Develop a move-out plan. Set a realistic timeline and meticulously plan each step. This is also a good time to have a talk with your parents.  They will have their opinions so make sure you communicate to them. They were just getting used to you being back home so this news may be upsetting to them. Be understanding.

It’s TIME TO HUSTLE

Your move out-date is fast approaching. It is time to purge, pack, gather essentials, rent a moving truck or moving company, set up utilities, and change your address, etc.

RALLY THE TROOPS

Have your friends help. To save money, have friends help you load and unload.  If possible, have some friends unpacking, organizing, hanging art, mirrors, and pictures.  This way everything will be complete by day’s end. Pizza and beverages are great incentives.

HAPPY ADULTING

The move is complete and now it is time to celebrate. Nothing beats a cozy home of your own.  Time to enjoy your freedom. Embrace the independent you.

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