Can I Afford to Move Out? + First Apartment Checklist
When thinking about moving out for the first time, you’re contemplating taking a big leap into adulthood. Having a whole place to call home is more than gratifying — it’s a rite of passage. You may already be creating vision boards to decorate your perfect space to feel cozy and homey. Or, you may be ready to live in a house with a couple of roommates for a summer spent with your best friends. Either way, moving can be a big investment.
Living on your own can sometimes be intimidating. You may not know if you’re financially ready or how much it may cost to have your own place. Even though moving can rack up a hefty bill, there are budget-friendly ways to prepare.
Follow our flowchart below to see if you may be ready to make the big move. We’ve also included our expert tips to help you prepare for obstacles that may come up along the way. If you’re ready to take the leap, check out our moving checklist to ensure you’re ready to go on moving day! Also, don’t forget to download our app to plan out your moving budget before taking this next big leap.
If you’re ready to move into your own place, congratulations! It may be time to start researching different areas. If you don’t feel as financially comfortable as you would like, there are some different ways to get you there — from applying for new jobs to setting financial goals and rewards to help keep you motivated. Before you know it, you’ll be ready to move into your new place!
Essentials to Make Your New Place Feel Like Home
Once you’ve made the move, it’s time to make your space truly yours! When moving into your first place, you may be starting from square one with your home furnishings. Before signing your first apartment lease, consider what furniture you’d like in each room. Take it a step further and list out each item you want and the cost, then total everything up. Cross-reference this with your budget to ensure you’re on the right track. If buying new doesn’t fit your budget, look for local garage sales or online marketplaces. Who knows, you may end up finding something barely used for a discounted price!
To make sure you have everything you need to make your apartment feel like home, check out our printables below. Jot down anything else you may need and check off what you can as your move date gets closer.
Estimated Supplies Costs for a Living Room
Depending on if you have a living room, and how big it may be, these estimates may differ. Pick out your ideal living room furniture and add it to your budget to see where you align.
- Sofa $600–$2,600
- Coffee table $120–$260
- TV stand and TV $750–$6,000
- Floor lamps and side tables $130–$400
Estimated Cost: $1,600–$9,260
Estimated Supplies Costs for a Bedroom
Your bedroom is an important space in your new home. Take some extra consideration when designing this space to help it feel extra cozy.
- Bed $300–$1,200
- Bed frame $400–$800
- Nightstands and lamps $180–$600
- Dresser $400–$800
Estimated Cost: $1,200–$3,400
Estimated Supplies Costs for a Bathroom
Your bathroom can easily be the smallest space in your home, so you have to be wise about how you furnish it. You could easily get by with a shower curtain, towels, and a shower rack to start off!
- Shower curtain $15–$60
- Towels and washcloths $20–$125
- Shower rack $20–$100
Estimated Cost: $55–$285
Estimated Supplies Costs for a Kitchen
Having everything you need to regularly cook and also make the occasional special meal is a must! Tap into your inner chef mindset and budget for everything you may want for your kitchen.
- Pots and pans $70$400
- Cooking utensils $40–$100
- Food containers $30–$200
- Silverware $40–$140
- Dishes $20–$150
Estimated Cost: $200–$990
Estimated Costs for Other Areas of Your Home
Along this journey, you may want to budget for some extras. For instance, if you’re moving into a space with an outdoor area, you may want patio chairs to enjoy.
- Outdoor furniture $150–$500
- Washer and dryer $450–$3,800
- Cleaning supplies $90–$1,040
- Organizational bins $100–$450
Estimated Cost: $690–$5,340
Moving out for the first time is a big step into adulthood. You’re able to come home to your own place to unwind and cozy up whenever you want to. Not only that, you’ll also learn some life lessons along the way. From picking out your color scheme to finding decorations, you get to make it perfectly you. While this time can be exciting, your bank account doesn’t have to take a huge hit. Use our app to save up for your move and learn more about how to furnish your apartment on a budget.
There are also many money lessons to be learned when you sign your first lease — from establishing healthy financial habits to learning how to manage your bills. To plan for the unexpected and build your credit, perfect your budget to set yourself up for success. Then, you get to sit back, relax, and reward yourself for all your hard work!
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