Thinking of moving out for the first time. (advice welcome)

[Hot Karl]

if you're not paying rent at home w/ your moms right now i'd consider staying at home for a few extra months and having a full on nest egg to start with. depending on how seasonal etc your job is.

imo you're better off saving for the next year and using that as a down payment for a place. if your credits' decent there's actually 0 down mortgages you can get into, but obviously the more downpayment the better.

just think about it this way. if you move out, and you like it, AND can afford it. all you're doing every year is dumping approx $6000+/year and never seeing that again. just think about that. you're essentially commiting to using over 6k a year that you will never see again. NEVER SEE AGAIN.

where as you save like a nutball for a year you could have 10k and blam-0 put that as a down payment for a condo and if its 2 rooms you've got some shmuck helping you pay off your mortgage.

*not saying it's easy, but something to consider. can ya tell i'm old now? thinking about practicality and the future?

[Kandyapple]

^haha well ideally that would be nice. It would take me a little longer to save though because me and my mom are in a roommate situation. We split the bills and rent right down the middle. So it's not like all the money I make just goes to me to have fun. (I wish!) I do have a full time job, it's just a lot easier in the winter to get more shifts, and larger bonuses. (My company specializes in travel to ski resorts, so in the summer even though I still work full time, sales aren’t as high, and there is no option of overtime. ) I just figured if this turns into just a trial run to start, then from september-feb/march would be the best time, because I'm making the most money. Plus even though I've been at my job for 3 years and it feels somewhat secure, you are less likely to lose your job during that time. (Unless you are totally not right for the job.)

I just don't think at this time I'm ready to commit to a mortgage. Plus I can't imagine what I would have to pay monthly with only a $10,000.00 down payment anywhere near my work. ( I work in north Vancouver.)
So I don't really want to be commuting from Poco.

But who knows maybe in a couple years. But right now I just want to try it for a little while before I start jumping into buying property. I still have a lot to learn! :p

[Asheai]

good luck on moving out... it is definitely an experience.

are leases really that big out there? i have lived in a couple of places, and they have never asked for a lease... but then that could be because i live in chilliwack...

as for loosing the damage deposit for cleaning carpets, etc... you should fight that.. our landlords tried to take over 3/4 of ours for cleaning carpets and an oven (that never worked and we never used). we went to the head management, and not only did we get all our money back, they fired our landlords... the money is not to cover routine, wear and tear (like carpets, etc), but for damage... they shouldnt be taking it for that purpose, but they do... also, if your landlord doesnt do a walkthrough with you looking for damage, then they cannot take ANY of the damage deposit. it is their responsibility to do it with you, and if they dont then they cant prove that you made the damage... it says it right in renter's tenant act (we had to read the whole thing cuz our previous landlords were screwing us over majorly).

[LLaaUUrrYYn]

DONT MOVE!!

Unless moving out will cost you less..or rid you of family stress..I suggest staying put and saving up! If you are already close to work..and you situation isnt really bad..Try to pay off debt..buy a car..or save up for a down payment on a house.

But if moving out is a must....

-If your checking out a basement suite..and there are young kids above..forget it!!! No matter how sweet those kids are..their stomping and running around upstaires will drive you crazy!!
-Start buying little things now whenever you see them..(kitchen stuff..etc)
-Thrift store are great for your first time leaving the nest..
-Try to find a place where utilities are included in your rent. NEVER rent a place with a 50/50 split. Normally the upstairs is bigger and sucks up more energy.
-Dont rent a place with a close friend..it can be awesome..or it could end up being a disaster.
-If you have a pet..and it seems like every ad says "N/P (no pets)"..just ask. Sometimes the owner just doesnt want cats..or just dogs.
-Mr.Noodles are great for breakfast, lunch and dinner!

Good luck!!!!

[Asheai]

^ agreed on the no pet thing... most places just automatically put it in (both places ive lived said it and we have 2 cats and 2 birds... they just dont want dogs)

[lithe]

keep me in mind if you're still looking for a roomie at that time! i'm normal, responsible, and laid back... i think i'll be looking at around that time.