Are you stuck living with your parents past the age of 20? You’re probably eager to move out of your parents’ house and get a place of your own, but there may be many things holding you back. Today’s affordability crisis is making it harder than ever for young adults to leave the nest and begin to establish their independence.
Here are some tips to do the seemingly difficult or impossible. Move out of your parents’ house in four steps.
Step 1: Increase Your Income
There is a large gulf between the minimum wage and the living wage throughout Canada. It is not feasible to afford anything on minimum wage – neither it has ever been. The number one thing you must do to afford a place of your own is increase your income.
There are numerous ways to gain new skills and increase your employability. Look to online resources first. You can learn coding within weeks or months via an online bootcamp or even YouTube videos and tutorials. You can take online courses, some of which only require a modest subscription fee.
If coding is not your thing, you can pick up graphic design skills or social media marketing skills in similar ways, by using online resources. You can also go to school for a certification, learn a trade, or even embark upon an undergraduate or graduate degree in your field of interest.
It is never too late to breathe new life into your career. Once you get the job of your dreams, you will be able to expand your monthly budget and afford the things you desire in life.
Step 2: Apply for the Apartment
Finding an affordable apartment can be challenging, particularly in big metropolises like Vancouver and Toronto. In some cases, you may need to move into a roommate situation before you’re able to afford a place entirely your own. However, you won’t have roommates forever! You will eventually nab the apartment you long for. Just give it time. Life will compel you to find new opportunities to up your game.
The application process can be quite convoluted as landlords and property owners today are looking to vet competition and weed out candidates who are not serious or are not able to make the payments. Application methods can range from online applications followed by phone calls and email submissions of documents to multiple in-person meetings and lots of paperwork and supporting documentation.
The main things the landlords will be looking for are your income and credit score and whether you are able to comply with the rules of the building, such as non-smoking or whatever pet rules they may have.
Your credit score can matter hugely when applying for an apartment, a mortgage, or any other loan. To check your credit score, try Credit Verify! Register online now to gain access to your credit report and other financial information as well as bonus features.
Step 3: Wait to Hear Back
The toughest part can be waiting for a response. You want that apartment so bad you can taste it! Don’t fret. Even if it doesn’t work out this time, another landlord may be willing to take you on. Keep trying and don’t give up!
Step 4: Move Into Your New Home!
So you got approved for the apartment of your dreams. It’s time to start packing! Hire a moving service if you need it. Set up your utilities in advance to avoid getting stranded without the Internet and other necessities.
Organize a housewarming party to help you celebrate the move. It’s so important to mark our progress in life! You’ve finally moved out of your parents’ house and established your independent life.
Conclusion
Living on your own can be very expensive. We get it. Bills pile up, unexpected expenses pop out of nowhere. If you’re caught without cash, LendProConnect could help! We’ll connect you with online installment lenders in Canada. Just submit our quick online application!
Just remember: it’s possible to achieve your goals with a little perseverance. Time may be tough, but there are ways to make it work!
