What do I need to know/plan/etc in order to move out on my own for the first time?

[ZombieGirl]

I'm 21 years old and live in Ontario, Canada (if anyone can offer me advice on the cost of living or anything else in the Kitchener/Waterloo area specifically, that would be great!). I'm looking to move out of my parents' house for the first time, and have ABSOLUTELY NO IDEA what I need to know or prepare in order to do so. I've tried asking my parents for help, but they don't approve of my moving out (long story, but the short version is that I'm still in school and they are overprotective) so they are refusing to give me advice, point me in the right direction, or give me any help at all in hopes that I won't be able to pull it all together in order to actually make it happen.

What do I need to know?
What expenses should I anticipate?
How much money should I have saved before I move out?

Geez, I feel like I should have a billion more questions, but I don't even know what questions I need to ask... That's how little I know! Please, I would appreciate hearing from anyone that has any advice...

[smackie9]

First off are you working? How much do you make in a month. Now you have to make a list of what you are going to need like, furniture, bedding, towels, dishes, pots and pans etc. Next you need to figure you are going to spend about 200 bucks a month on food alone. Renting is varied. Some places don't include utilities (cable, internet, heat, electricity) so when you look on craigslist for a place you have to make sure that is included in the rental price. You also have to pay for a damage deposit along with first months rent...that is usually half or a full months rent...it depends on the landlord. Next laundry. Not all places provide a washer dryer, so you might have to include going to a laundry mat. That can be 2 to 3 bucks a load just for washing, drying extra. Transportation....you need to make sure you have a bus route near your place if you don't have a car....bus pass needs to be added into your budget.

So get yourself a pen an paper and write all this stuff down and see how much you need. You probably will be forced to look at ads where someone is looking to share accommodations. I doubt you will have the money to live on your own for the first while.

[smackie9]

Make sure the place you want to rent is in walking distance to like a grocery store etc.

[smackie9]

If you have anymore questions about anything please PM me I will be glad to help.

[ZombieGirl]

Thanks for your input, smackie!

I am working, but I expect to be making much less once school starts in September. Unfortunately, it will be tough to know how much less because I don't yet know how intense my courses are (can't know until I've actually started them, obviously) and therefore how much time I need to dedicate to school outside of my classes. So until I know that, I don't know how much I will have to reduce my hours at work.

What are average utility costs? Just heat, electricity, water, etc. Cable/internet I can figure out seperately.

[smackie9]

It varies from place to place and what kind of heat, like natural gas or electric. Internet is easy, you can go to shaw.ca and see how much internet and cable costs per month. For me personally I pay about 150 plus a month, but I have HD TV and tier3 channels. Just go on craigslist and look through the ads. They usually tell you how much or you can call them and inquire.

[smackie9]

Also every area is different. Where I live rent is about 650 to 700 for a one bedroom basement suite. But I live in the most expensive part of the country...Vancouver. A one bedroom apartment near the harbor is around 1800 a month and up.

[smackie9]

Since you are a student, you could just rent a room at a private residence. Usually an elderly couple or family will rent out a room to a student. Here they are like finding hens teeth, but you might have better luck there.

[smackie9]

http://kitchener.en.craigslist.ca/apa/ here's a link, start looking

[ZombieGirl]

Thanks again, smackie!

Another question... Okay, so, I posted a thread on here because whenever I'd head over to Google to try to find info on what kinds of expenses I should expect, I get really overwhelmed by all the different expense categories that these websites/spreadsheet templates suggest. Like, I am having a hard time determining the suggestions from the mandatory, such as renter's insurance. Is that something I HAVE to have, or just a good idea?

Then there are other categories like car maintenance and repair, medical expenses, savings... I have a car, but it is a gift from my parents and they've paid everything on it, including any repairs and maintenance, etc because they knew I couldn't afford it, but they wanted me to have the car because public transit where I presently live (not KW) is pretty bad and they needed me to have a reliable means of transportation for various reasons. Once I am out on my own, though, they've made it clear that they will continue making the car payments (since it is a gift), but that any maintenance, insurance, etc falls on me. I don't even know how much I should budget to put towards that portion of my budget! And again, I can't ask them because they refuse to tell me anything. Same goes for medical expenses and savings; how much do I need to allocate to those areas?

[smackie9]

OK lets start with car insurance. You can pay monthly instead of one lump sum. All you have to do is go to an insurance place with your policy and have them calculate what the payments will be...simple as that. As for maintenance, when I was your age I learned to do most of it myself like oil changes and tune ups, and little stuff like changing the wipers and stuff.

A brake job can cost you anywhere from $400 to $800. Shop fees alone are anywhere from $85 to $120 an hour. And since you are a young lady those shops will do repairs that you don't need and rip you off. Your best bet is to make friends with a car guy and pay him with a home cooked meal and some beers.

The cost of medical, you just go on line and they will show you the cost or there is a contact number you can call to find out.

renter's insurance, unless you have a 60'' TV and a $2000 sofa set which I'm sure you don't, you won't need it. If you want an estimate, just go to an insurance place, probably where you get your car insurance, and they will give you an estimate. They will help you with what the monthly payment will be and deductible.

[ZombieGirl]

Smackie, you are a dream! <3

Christ, car maintenance looks much more expensive than I had imagined... Scary. Thankfully it is a new car, so I at least feel comfortable in knowing that almost anything that comes up (for the next while, at least) will be covered under warranty and I only have to worry about routine maintenance. Still, those figures look scary...

As far as medical insurance goes, as a student I'm covered under my dad's policy through his work until I'm 25. My parents aren't totally heartless enough to take that away... Since I've got that, do I need to be budgeting for medical expenses? Or can I completely neglect this category until I turn 25?

Ah, makes sense. Good to know that about renter's insurance. Wasn't sure if I had to have it. knowing that, I definitely don't need it...

[smackie9]

IMO you are best to ditch the car and live close to transit or to the campus. You can even try and find someone to carpool with that goes to your college.

[smackie9]

Smackie, you are a dream! <3

Christ, car maintenance looks much more expensive than I had imagined... Scary. Thankfully it is a new car, so I at least feel comfortable in knowing that almost anything that comes up (for the next while, at least) will be covered under warranty and I only have to worry about routine maintenance. Still, those figures look scary...

As far as medical insurance goes, as a student I'm covered under my dad's policy through his work until I'm 25. My parents aren't totally heartless enough to take that away... Since I've got that, do I need to be budgeting for medical expenses? Or can I completely neglect this category until I turn 25?

Ah, makes sense. Good to know that about renter's insurance. Wasn't sure if I had to have it. knowing that, I definitely don't need it...

Dear warranty doesn't cover all the fees, and you have to bring it in for regular maintenance if you want to keep the warranty valid...and that costs you $$$ as well. It's not all free. Some things are not covered either like tires.

[smackie9]

Take your medical card and call up the company that provides your dad's policy. You can request a policy breakdown of what type of coverage the policy has.