Hi,

I am interested in moving out of my parents' home. I live in Prince Georges County, MD and would like to pay $500 max. for rent. How much do I need to save up before I make a move? Thanks.

Hey I don't live there, but I can give you my perspective. Most landlords will want at least the first month's rent up front + a security deposit (which is typically equal to a month's rent - sometimes it's less or more). Some landlords will want first month, LAST month and a deposit, but that has been rare in my experience.

You're also going to need renter's insurance. Check with your car insurance company if they also handle renter's insurance, they might give you a discount if you go with them for renter's insurance as well. My renter's insurance is 30.00 a month.

You might need deposits for electric, trash (you might have to buy one of thsoe big trashcans up front or pay a deposit on one), cable. I would estimate 200.00 for all utilities - just to get you up and running.

How are you set for household supplies? Starting a brand new place is tough - everytime I move I always need towels and new trashcans. Think of drawer liners, shower curtains, plates, a vacuum cleaner, broom, dustpan, cleaning supplies, that could run you another 200-300.00 (depending on what you need and if you buy used or not).

Thanks Glory. I don't have a car, so I don't have insurance. What is renter's insurance? How do you go about getting it? Also, I will be sharing with someone, I cannot afford to live on my own just yet.

Most places require you to get renter's insurance. It's insurance to protect you from loss of property in case of a fire, burglary, etc. I used to pay $20 a month, and now I pay $9 a month through State Farm (where I have my car insurance). I think I get a discount though. I didn't know my insurance company offered renter's insurance, so I did it online (I just searched for renter's insurance) and paid $240 for a year policy. The safer and newer your place is (my apartment has a monitored intrusion alarm and sprinklers in every room), the cheaper it is.

Thanks Harpo.

$500 per month- MAX? In the Metro DC area? Did you actually find a place to fit this bill? And if so, did you check out the crime rate in the area?

Please don't take this the wrong way, but you might be taking your life in your hands in any area that would only want $500/month for rent in PG.

You might want to consider a roommate (or two, or even more). By sharing rent two or three ways, you could afford to move into a nicer place in a better area. A friend of mine shared rent on a house with five other people (a 4 bedroom single-family home) in Alexandria a while back, and I think her share was $500 + 1/6 of the utilities. She paid a little more than several roommates because she got a bedroom to herself. They were in a quiet neighborhood with no crime problems.

It's just something to think about. I don't know what's driving you to move out of your parents' house, but please make sure that you find something safe. I'd hate to think that you jumped at a cheap place - only to find out you're locked into a lease for a place that's in the middle of gang and drug territory. Be careful!

Thanks Havoc. I figure that a room would run me 500.