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Your Ultimate Survival Guide to Moving Out From Your Parents’ Home

Maelyn Lagman

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If you haven’t moved out of your parents’ home yet, you’ve probably thought about it. Maybe you’re even planning to take that big step soon. It’s exciting and a little scary, I know. Total independence comes with its challenges — especially in a place like Singapore, where the cost of living is no joke. But it’s not impossible. All you need is a solid plan to get started. 

To start: Get your finances in check

Let’s face it — living on your own isn’t cheap. But with the right budgeting and planning, you can manage your expenses like a pro.

#1: Rent

Rent is probably going to be your biggest financial commitment. Depending on the location and space, it can vary a lot, so here’s how to stay on top of it:

  • Do your homework: Browse platforms like Ohmyhome or 99.co to get a sense of what rent looks like in your ideal areas. Ohmyhome even has tools to help you compare prices and snag the best deals.

  • Share and save: Co-living is a great way to cut costs while still enjoying your own space. Plus, it’s fully furnished and comes with shared amenities like kitchens and lounges.

  • Negotiate like a boss: Planning on staying put for a while? Your landlord might be willing to cut you a deal on rent — just ask.

#2: Utility bills

Beyond rent, you’ll need to budget for the basics like electricity, water, and internet. Here’s how to keep those costs down:

  • Go green: Opt for energy-efficient appliances and practice little habits like turning off unused lights to save on electricity.

  • Bundle it up: Bundling your internet, mobile, and TV services can help you score discounts. And don’t forget to compare electricity providers in Singapore’s Open Electricity Market to get the best rate.

#3: Groceries and daily essentials

Stocking your kitchen and home can add up quickly, but a little planning goes a long way:

  • Meal prep, save big: Planning meals in advance can help you avoid expensive takeout and reduce food waste.

  • Buy in bulk: Non-perishables like rice and cleaning supplies are cheaper when bought in bulk. Stock up!

  • Shop smart: Use platforms like RedMart and FairPrice to hunt for deals and schedule grocery deliveries, so you’re not tempted to splurge at the last minute.

#4: Savings 

Living independently means being ready for life’s surprises. That’s where a solid savings plan comes in:

  • Emergency fund: Aim to save three to six months’ worth of expenses. This will help you handle unexpected events, like medical emergencies or job changes, without stress.

  • Automate it: Set up automatic transfers into your savings each month. This way, you’re building your emergency fund effortlessly.

Next: Decide whether to rent or buy

Where you live matters. Whether you’re renting or buying, here’s how to find a place that fits your lifestyle and budget.

Should you rent?

Renting gives you flexibility, especially if you’re not ready to commit to buying a home. HDB flats are usually the more affordable option, but the location is everything.

  • Location, location, location: Being close to MRT stations, supermarkets, and your workplace can change your whole routine. Use Ohmyhome’s property search tools to find rentals that fit your needs and your budget.

  • Know your lease: Make sure your lease terms are clear, from rent payments to the lease duration. If you plan to make any changes to the flat, check what’s allowed.

  • Inspect before you sign: Always check the condition of the flat before signing the lease. Document any existing damage to avoid disputes down the road.

If you’re thinking about renting a private condo, be prepared for higher rent, but the trade-off is access to luxury amenities like pools, gyms, and 24/7 security.

Should you buy?

If you’re ready to put down roots, buying might be your next step. But it requires careful planning. Ohmyhome’s handy mortgage calculator and expert property agents can help guide you.

  • HDB resale flats: These are more affordable than private properties, and if you’re a first-time buyer, you might qualify for CPF housing grants.

  • Watch out for lease decay: If you’re eyeing an older HDB flat, make sure to check how many years are left on the lease. Less than 60 years? It might be harder to sell in the future, and financing options could be limited.

  • Private properties: Condos and landed homes give you more flexibility, but they come with a higher price tag. Don’t forget to budget for stamp duties (especially if this is your second property). Ohmyhome’s experts can help you navigate the paperwork and hidden costs.

The not-so-fun stuff: Legal and administrative tasks

It’s not glamorous, but sorting out the legal and administrative details is crucial. Here’s how to handle the paperwork without the stress.

#!: Tenancy agreement

Before you sign on the dotted line, make sure you fully understand your tenancy agreement.

  • Security deposit: Be clear on how your deposit will be used and when it will be refunded.

  • Maintenance and repairs: Typically, your landlord will handle major repairs, but minor fixes might be your responsibility. Check what’s included.

  • Early termination: Need to end the lease early? Make sure you know the penalties and notice periods.

#2: Utility set-up

Once your place is locked in, it’s time to set up utilities like electricity, water, and internet.

  • Electricity and water: Register with SP Group for electricity, water, and gas. Use the Open Electricity Market to compare providers and save on costs.

  • Internet and TV: Don’t just settle for the first provider you find. Shop around for packages that meet your needs. Ohmyhome’s blog regularly highlights deals on essential services like internet and mobile.

#3: Change of address

Updating your address is easy to forget but important. Make sure your mail, GrabGood, and other online orders reach you at your new home.

  • Government agencies: Use SingPass or MyInfo to update your NRIC, CPF, and HDB records.

  • Banks and insurance companies: Ensure your financial and insurance documents are sent to the right address.

#4: Get home insurance (Optional)

You’re not legally required to have home insurance as a tenant, but it’s a smart move. Your landlord’s policy only covers the building, not your belongings.

  • Coverage matters: Look for a policy that covers your personal property, liability, and any extra living expenses in case you need to relocate.

  • Compare premiums: Shop around for quotes to get the best deal. Ohmyhome’s agents can even help you find a plan that suits your needs.

Hundreds of resale HDB and condo listings are waiting for you on HomerAI

Start browsing Ohmyhome’s verified listings. No duplicates, no fakes, no scams. And you’ll also get a comprehensive market report, including past transactions and price trends in your area.

Or you could speak with our property agents to get professional advice. Drop us a message on WhatsApp to reach out!

Originally published on PlannerBee.

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