Renting for the First Time

Leaving home for the first time to rent a property. Image of young adults smiling, upside down.

Are You Moving Out for the First Time?

Moving out of your parent’s home can be an exciting time giving you the freedom to go and do the things that you want to do as you take on adulthood. And so it should be!

But there are many traps for young players, and unfortunately, most of them cost money.

Two weeks’ deposit plus four weeks’ rent for the bond, a fridge and all the other things you’ll need!

So start saving now!

Becoming an adult doesn’t have to be all doom and gloom, though.

Using the money management tips below can help you get on the right path to being a responsible adult, proving your parents wrong, and enjoying your freedom!

Before you sign your lease, here are a few tips below to consider when moving out on your own.

Property for tenants. Property Management services Brisbane and Moreton Bay. Image of 2 people laying on a bed.

Set realistic budgets 

When moving out on your own, you now need money to pay for rent, bills, groceries, etc.

The list never seems to end. It may be a good idea to sit down with your parents or maybe a trustworthy and experienced family member or friend and work through a budget that will work for you.

Be sure to factor in how much water, electricity, and internet you may use as well and consider putting aside some money for a rainy day or emergency.

Though it may seem like budgeting with your parents will likely turn into one big lecture – good advice always wins in the long run.

  • Factor in your social life 

    Living out of home is only good if you can go and do things with your friends and live the ‘free life’ you’ve dreamed of. It may be worthwhile getting some practice in lifestyle budgeting so you get good at affording the things you want to do after taking care of your responsibilities. There are plenty of things that can cramp your style. A property with lots of lawn and gardens can trash half your valuable weekend, unless of course you love gardening. Maybe you like camping and 4 wheel driving? If so, it’s best to find a property with plenty of storage and room to wash your car as carwashes and storage sheds can cost a small fortune.
  • Don’t forget about your bills

    Bills such as water, gas and electricity tend to come around every 3 months, sometimes it seems like they never stop coming. Forgetting about these bills can be detrimental to your budget and your social life, especially if you had a big event planned! To remember these bills, it is often a good idea to add them to your calendar for every three months. If you  haven’t received a water invoice from your real estate lately, contact them directly to ask when this will be charged so you can plan ahead.
  • Apply for the Right Property 

    There are plenty out there. Houses, units, duplexes. Check carefully what you want and if they allow pets or have any restrictions that won’t suit you.

As a new renter, it can be confusing and a bit overwhelming.

Don’t feel alone because we’re here to help!

If you’ve got a question about one of our rental properties or need help putting in your application – just ask – we’re here to help!

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