Budgeting tips for moving in with your partner

 

Hooray!! You’ve just hit that milestone in your relationship… Moving in with each other!! Dun-dun duuuunnnnnn!!

It’s a huge step emotionally.

I’m sure you’ve asked yourself, ‘Is it too early to move in together?’, ‘Will I be able to stand their annoying habits?’, ‘Do they have a B.O. problem that I don’t know about..?’ and so on!

And then there’s also the financial aspect of it all.

What’s my budget on rent and utilities? The bond and two months rent upfront… All these factors come into play and you need to make sure you get these sorted otherwise you might not even have a place or a partner to move in!

To help all us first timers, here are some key budgeting tips for moving in with your partner:

  • Talk openly with your partner about your financial situation – you want to both go into this lease knowing that you both can cover what’s expected and any other hidden costs.

  • Fair is not always equal – you might have an agreement where one person pays for the rent and the other pays for groceries and utility bills. Or if one person wants the car space for the apartment they should potentially be paying more of the rent.

  • Have your papers ready – When you start applying for a home remember to have your ID, bank statements and referees handy!

  • Depending on your budget, if you find a place and really love it but find there is some competition, offer to pay bond and two to three months worth of rent upfront.

  • And finally Mat’s ultimate tip: work out who does the cooking and cleaning early on!

Ultimately you just need to be mindful of each other. You need to be tolerant and learn to compromise now that you are living together in one space.

You may, in fact, find out that they have a B.O. problem, but with a solid financial foundation, you’ll be able to get through anything ?.