So the kids have grown up and are ready to leave the nest. For some, maybe they’re movingout for university or college. A few of your children could be eager to jump into the workforce right after high school. Others may have graduated from a post-secondary institution and are ready to pursue a career. Regardless of why, we figured we’d offer a few pointers that would assist any parent who’s looking to help their adult children moveout in Vancouver.
Teach your kids what to look for in a lease
There is no such thing as a standard lease agreement. These contracts come in all shapes and sizes and extra care must be taken when signing a lease. Look over the document before your children sign it. Make sure that the terms of the contract are very clear. Teach your children to look for essential items in the agreement, such as what the rent covers, rules for raising rent payments and maintenance, just to name a few things. It’s also good to go over the B.C. Tenancy Act so your children can be informed about their rights as renters.
Teach your kids the warning signs associated with rental scams
Is the security deposit unusually high? Are you being asked to send money without having seen the apartment? Teach your children to be savvy when dealing with prospective landlords, and give them pointers that would help them spot problems. About.com has some useful tips on spotting scammers. And CBS news has also compiled a few red flags to look out for when renting. Arm your children with knowledge so people won’t take advantage of them.
Before your adult children moveout in Metro Vancouver, make sure they know how to budget
Chances are parents (read: you) have been paying most of the family bills associated with day-to-day living. Before your kids fly the coop, ensure they are aware of what costs them money. Moneycrashers.com has a compiled a useful list that you could go over with your kids. Water, electricity and gas are all things that rack up expenses silently. Are they planning on getting a car? Help them research ICBC insurance policies. Are they aware of how much a bundle of groceries costs at the supermarket? Do they eat out a lot? If your children don’t have practice at budgeting things before they moveout, independence can be a struggle.
Know the neighbourhood and why your grown children are movingout
Are your adult children movingout for schooling at a place like Simon Fraser University or UBC? A dorm may be suitable, but if your child wants to focus on school work, keep in mind there can be many distractions in dorm life. Is your child moving in with a roommate? Give them some tips on how to find someone who gels with them. Is their roommate a night person or a morning person? Do they party a lot? Are they quiet?
If your children are movingout because they’ve graduated or want to tackle the work world right away, try to figure out a neighbourhood that is convenient and meets their needs. If their workplace is downtown Vancouver, perhaps the West End might be a viable option. If that’s too pricy, look at areas situated along the Canada Line. If your kids are interested in participating in Vancouver’s arts and culture scene, perhaps Mount Pleasant or Commercial Drive might be a good fit.
Remember, do your homework!
Knowledge is the best defence against getting a bad deal. So get your children to do as much research as possible about the areas they are interested in moving into before they fly the coop. Try initiating ‘independence simulators.’ That is, get your children to pretend they are living on their own while they are still living with you. Have them buy their own groceries, do their own cleaning, cook their own meals and perhaps even pay rent. If they clear those hurdles, they have a good chance at surviving on their own.