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No matter the circumstance, there always comes that moment when you have to leave your parents’ house and choose an apartment to live in alone. The most common reasons are entering university, wanting to be closer to work, or moving to another city.
This new phase is generally celebrated, mainly because of the idea of independence that it carries with it. However, on the other hand, it is necessary to take into account that responsibilities hitherto unknown will begin to be part of the routine. In this sense, knowing how to choose the right apartment can help – and a lot!
What should I know before Living Alone?
This decision, in addition to the pleasures, entails a series of responsibilities. It’s not that simple to give up the comfort of your parent’s home and the financial backing they provide. That is why it is not uncommon to find young people who, in search of independence, end up in debt.
Anyone who wants to face this challenge needs to prepare, especially with regard to finances. Check out some tips that we have separated to help you in this planning and start this new phase of life with more tranquility and safety.
1. Organize Your Finances
Getting your financial life up to date should be the first attitude of those who make the decision to live alone. This is because even living with their parents, many young people are in debt. In this new phase, the tendency is for these pending financial issues to get worse as responsibilities increase – and bills!
So, try to renegotiate your debts and cut everything that is not essential. Ideally, you should even make a financial reservation before moving. Take advantage of this moment of transition when you are still living with your parents for this. If you are financially stable and looking for a beneficial investment opportunity, then Nova City Islamabad offers unique facilities at a strikingly affordable price.
2. Take on the Household Chores
Another challenge for those who leave their parents’ house is to get used to the domestic routine. However, you need to keep in mind that learning to deal with day-to-day tasks is very important and will guarantee your independence, including finances.
That’s because hiring someone to clean the house, cook or do the laundry implies more costs. And if you left your parent’s house, you don’t intend to call your mother to help you with these chores, right?
3. Run Expense Simulations
It is essential that you make a simulation of the costs that you will have to bear living alone. To start, make a list of all essential expenses, such as water, electricity, gas, condominium, internet, etc.
Remember to add these bills to your personal expenses, such as college, transportation, and food outside the home, among others. Redo the simulations as many times as necessary until the budget closes. You will realize that you will have to cut costs. This attitude will prove how mature you really are to live alone.
4. Have an Emergency Fund
In addition to fixed expenses, including incidental expenses in the cost simulation. From now on, you will also be responsible for dealing with the unforeseen circumstances of a home, such as maintenance or extra expenses in the condominium.
Therefore, the ideal is that, before starting to live alone, you can save something for an emergency. That way, even with a tight monthly budget, you’ll have savings. Or you can program yourself to save a certain amount each month after you move. Don’t worry about the value, the important thing is to add this reserve.
5. Get Ready to Build a House From Scratch
Those who are leaving their parents’ house usually leave everything or almost everything behind. So, the way is to prepare to assemble a house from scratch. It is a complex step, mainly because the budget is short and, therefore, everything depends on good choices.
It’s common to want to leave everything the way you’ve always dreamed of, but the reality is different. So start by panning furniture and appliances among friends and family. Also, look on detachment websites and groups. You can find parts for great prices or even donations.
Also, don’t buy anything on impulse. The best thing is, before you go shopping, make a plan, prioritizing what is really important at this first moment.
Buying or Renting an Apartment to Live Alone?
When deciding to move out of your parents’ house, you will have to make certain choices. The first is whether the property will be owned or rented. Renting a property has its perks. The money you would give at the entrance, for example, will be invested, presenting greater liquidity; that is, if you need it, it will be there.
However, today, many young people decide to buy their first apartment, as it is a good investment, better than any financial investment.
The excellent financing options that the market offers end up making the purchase more attractive than the rent. In addition, a property of your own guarantees financial security, especially for those who are starting life.
How to Choose an Apartment?
First, you will have to think about whether you want to live close to work, college or your parents’ house. With the location defined, the next step is to look for the ideal apartment, such as the https://skymarketing.com.pk/rawalpindi/blue-world-city/ ,
1. Observe the Size of the Apartment
You can start with the size you want. Generally, those who live alone are looking for something simpler and smaller. But it all depends on your social life. If you like to receive friends, it is worth investing in a large room. If your parents are staying in another city, an extra room may be needed for when they are visiting.
Another point that should be analyzed is how long you intend to stay with this apartment. If you are planning to get married and have children, it is best to already think of a size that can accommodate a family, even if it is small. There are apartments designed exactly for those who want to live alone. Check out some examples.
This type of apartment appeared in the mid-1960s in the United States. As it is located in unused commercial buildings or warehouses, one of its main features is the few walls, large windows and high ceilings.
This style arrived in Pakistan a few years ago. However, around here, lofts are not abandoned warehouses. They are apartments built from these characteristics. With footage between 25 m² and 55 m², they are well-lit, ventilated and spacious properties, as they do not have many partitions or walls between the rooms.
Flexible and versatile, lofts are perfect for those who want to live alone and enjoy practicality and modernity.
It is a mixture of hotel and apartment, with footage that varies greatly. However, in the condominium fee of the flat, the resident also pays for services such as cleaning the property, laundry, maintenance of air conditioning, etc.
For those who live alone, it seems like a great advantage, as they won’t have to worry about any household chores. However, keep in mind that the rates are high, so flats are mostly used for temporary stays.
The studios are usually located in privileged locations, with easy public transport and access to shops and services. Therefore, it is the favorite of those who want to combine practicality, good location, comfort and busy life.
Its size varies from 25 m² to 50 m², usually divided between the living room, bedroom, bathroom and kitchen. Sometimes there is a small balcony, which makes the place even more cozy. The compact and multifunctional environment is ideal for those who are just starting out in life and want a corner to call their own.
As the studio’s target audience is singles, the buildings usually offer environments such as:
• Bike rack, among others
It is a simpler property and in regions with less infrastructure. Its size is between 20m² and 40m². However, it is an excellent option for those looking for something cheaper. In the kitnet, the American kitchen expands the living room and the counter serves as the dining table.
Finally, there are options for every type of need and budget. The important thing is that this apartment fits into your routine.
If you have a pet or are just waiting to get out of your parents’ house to have one, remember that your pet will need a space to stay. Give preference to the service area, as the balcony is usually very sunny and some breeds feel very hot.
Also, keep in mind that you will have to take your pet for a walk often. So make sure the surrounding streets are safe if there is a park close by, even better!
3. Parking Space
Another issue that should be checked is whether the property has a garage. If not, check your neighborhood for available parking or rental spaces.
On the other hand, if you don’t have a car and the property has a garage, think of it as an alternative source of income that will help you pay the bills at the end of the month.
It is recommended that used properties are inspected and audited to avoid risks with condominium debts, late IPTU or even that this property is subject to attachment in court. In the case of used property, you will need to check:
• Registration of the good;
• IPTU negative certificate;
• Condominium debt clearance certificate;
• Negative certificate of public utility of the property;
• Negative certificate of civil and criminal action of the seller and his/her spouse;
• Purchase and sale agreement;
• Registration of the purchase contract with the real estate registry
For a new property, ask for:
• Descriptive memorial;
• Condominium debt clearance certificate.
• Condominium Convention
In addition, always check the state of conservation of the property if there is a fair at the door of the building, concert halls or stadiums in the vicinity. It is also worth looking for data on crimes in the region and whether there are police in place.
5. Initial Expenses
Whoever is buying the first apartment needs to prepare for some extra expenses, especially when opting for financing. Check out:
• Costs with legal analysis of documentation;
• Costs with evaluating the conditions of the property;
• Costs with notary documents and property registration;
• ITBI applied according to the rate of each municipality
These expenses usually represent between 4% and 8% of the total value of the property.
As we have seen, leaving the parents’ house and living alone is the dream of most young people. On the other hand, so that this dream does not turn into a nightmare, good planning is essential.
Calculate how much you will need to pay for an apartment, take care of the paperwork, and set up the house. Then choose an apartment that matches your needs and, at the same time, fits your budget. If you want an investment that provides the most luxurious amenities that fit your budget then https://skymarketing.com.pk/islamabad/capital-smart-city/ is the most convenient option.
Also, do a cost simulation, thinking about the fixed bills of the house and your personal expenses. And don’t forget that unforeseen events happen. So take advantage while you live with your parents to make a financial reserve.
Anyway, living alone requires some sacrifices, but they will be rewarded with the freedom and independence conquered.
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This release was published on openPR.