Flying The Coop

Things you need to know about flying the coop!

Some of you out there may be thinking about leaving home for the first time. Whether it's to be closer to uni, work or just to spread your wings, it's an expensive exercise and there are many things you need to consider.

Firstly, you need to find accommodation meeting your needs. Rent should be within your budget, it should be close to public transportation (if you need it) and amenities (school's, shops etc) and should offer a decent level of security. Real estate agencies have rental listing flyers providing descriptions, cost and availability of rental properties. Rentals are also advertised in newspapers.

When you find a rental you like, you will be required to apply for it through the real estate agency and pay a bond. Bond is a deposit paid to ensure the conditions of tenancy are not breached and that the property is kept in a state of good repair and order. When you vacate the property the cost of any damage is taken out of the bond and the balance is returned to you. Bond is usually 4-8 weeks rent in advance.

The Real Estate Institute of Australia (REIWA) has a comprehensive web-site providing information about renting.

You should consider the costs of utility connections. This refers to gas, telephone and electricity. Connection costs vary and can be up to $60.00 each and is in addition to the monthly bills for each service. You could expect to pay around $40.00 a month for each service if you are frugal.

If you are planning on sharing accommodation, it's best to find a roommate with a similar lifestyle to yours. If you're studying, a 24 hour 7 day a week party animal may not be your ideal roommate. When you find someone you can live with, set some ground rules. For instance, splitting housework duties, cooking, food shopping, appropriate days or times for friends to visit, sharing of expenses and whether guests can stay the night. It may sound petty, but these are the issues, which generally cause arguments in shared households.

You're going to need furniture, a fridge, kitchenware and linen. If you're working full time, you may be able to afford some of the no deposit interest-free deals many stores offer - ensure you read the small print as many deals are not as wonderful as they initially seem. Otherwise, check out markets or newspaper classifieds for bargains. Look at noticeboards at universities at the end of each semester as many overseas students returning home need to sell almost new equipment for seriously cheap prices.

Leaving home gives you great independence and freedom but it's a tremendous responsibility and should be given serious consideration before you take the plunge. It's a good idea to stay at home until you are in a stable financial position - there is nothing worse than having to decide between eating for the next week or paying the electricity bill. Oh, and it really doesn't take long to miss Mum's cooking either!

- Rachael B.