What to Prepare If You Rent & Move Out of Your Parents’ Home in Your 20s

Key takeaways

• Before moving out of your parents’ home, decide what type of rental fits your budget, preferred location, commute, and need for privacy.

• Rental costs can range from about S$500 a month for a room to around S$5,150 a month for a larger HDB flat or condominium unit, before food, utilities, transport, household supplies, and other living expenses.

• Read your tenancy agreement carefully so you understand deposit terms, repairs, utilities, renewal conditions, and what you are responsible for as a tenant.

• Check what furniture, appliances, utilities, and household essentials are already provided before spending on your move-in setup.

• Independent living also means managing recurring bills, household upkeep, basic home safety, and your day-to-day routine.

• Review what the landlord’s insurance covers and whether your belongings, renovations, or tenant liabilities may need additional protection.

If you are in your 20s and seriously thinking about moving out of your parents’ home, renting may be the most practical way to get your own space for now.

But the move involves more than spotting a listing you like and packing a few boxes. You will need to work out what you can comfortably afford each month, what you need to pay upfront, and how much responsibility you are ready to take on once you are living independently.

Here are the essentials to have in place before you move.

1. Decide what type of house you can afford

Your first decision is whether to rent a room, share an apartment, or take an entire unit yourself.

 According to MoneySmart’s 2026 Cost of Living guide, estimated monthly rents may look like this:

The actual rental costs will still vary by location, property age, furnishing, and proximity to public transport.

In general:

• Renting a room is generally the lower-cost option and may already include furniture, but you will usually share spaces such as the kitchen, bathroom, or living area. Check the house rules around cooking, visitors, air-conditioning, and whether utilities are included.

• If you share an apartment, you can split the rent and household bills while having more control over the space. Agree beforehand on shared expenses, cleaning, and what happens if someone leaves before the tenancy ends.

• Renting an entire unit gives you the most privacy, but you will also take on the full rent, utilities, and household responsibilities yourself.

Before viewing properties, set a realistic rental budget and decide how much you value location, commute, privacy, furnishing, and shared space.

2. Prepare for the financial costs of living independently

Once you have a rough idea of what you want to rent, work out whether the overall cost fits your finances.

To budget for your new lifestyle more effectively, review your bank and card transactions from the past three months. Then, add expenses that may currently be covered at home, such as transport (if you’ve been relying on a family car), food, and utilities.

Based on the figures provided in MoneySmart’s guide, here’s what you can expect:

Actual spending will depend heavily on your routine. Someone who cooks most meals at home and takes public transport, for example, may spend considerably less than someone who eats out regularly and relies on private-hire transport.

After covering your deposit, moving costs, and basic setup, you should also try to retain at least three to six months of essential expenses as an emergency buffer for emergencies or household accidents.

A larger cushion may be useful if your income is irregular or if you are responsible for more of the household costs yourself.

3. Understand your tenancy costs & responsibilities

Before making any payment, account for upfront tenancy costs such as the security deposit, advance rent, stamp duty, and any applicable agent commission. If you are dealing with a property agent, verify their registration through the Council for Estate Agencies’ Public Register.

Read the tenancy agreement carefully and confirm:

• Who pays for repairs, air-conditioning servicing, utilities, and stamp duty

• When the deposit will be returned and what may be deducted

• What happens if the tenancy ends early

• Which furniture and appliances belong to the landlord

Do take note of your rental period as well. For HDB bedrooms, the minimum rental period is six months, while private residential properties have a minimum stay of three consecutive months. 

Most tenancy agreements run for a fixed term, so do not assume the lease will continue automatically once it expires. 

Check whether the agreement provides for renewal or extension, how much notice you need to give, and whether a new tenancy agreement or revised rental rate will apply.

4. Prepare the essentials for move-in

Before shopping for your new home, check exactly what the property already provides. A furnished room may already come with a bed, wardrobe, desk, and air-conditioning, while an unfurnished apartment could require considerably more setup.

Depending on the property, you may need to prepare:

• Furniture and appliances: Check whether you need items such as a bed, desk, refrigerator, washing machine, or microwave

• Bedding and toiletries: Prepare sheets, pillows, towels, hangers, and everyday bathroom essentials

• Kitchen basics: If you plan to cook, check whether you need cookware, utensils, plates, and food-storage containers

• Cleaning and laundry supplies: Have enough to cover the first few days without making an immediate shopping trip

• Utilities and broadband: Find out what is already active, what is included in your rent, and what you need to arrange yourself

• Moving arrangements: Check delivery timings, lift access, parking, and any building rules that could affect your move

Measure the available space before buying larger items. 

You can also reduce initial setup costs by taking suitable items from home, buying selected items second-hand, or delaying purchases that you do not need immediately.

5. Handle the realities of living independently

Living independently means managing a number of small tasks that can easily be overlooked. Set reminders for rent, utilities, broadband, and other recurring bills, and keep a basic schedule for groceries, laundry, cleaning, and replacing household supplies.

It also helps to know how your home works. Find out where the electrical distribution board, water shut-off valve, and rubbish disposal points are, keep your landlord or maintenance contact details somewhere accessible, and check what to do if there is a power trip, water leak, or faulty appliance.

To make the transition easier, build a routine that keeps you organised outside the home too. Plan your meals for the week, set aside time for errands, and keep regular social plans so independent living does not become unnecessarily isolating.

6. Review your home insurance

Renting a home does not necessarily mean everything inside it is covered by the landlord’s insurance. 

Before choosing your home insurance coverage, review what the landlord’s insurance already covers and consider the value of the belongings, renovations, and liabilities that would remain your responsibility as a tenant. 

For those looking to protect what they are responsible for as tenants, consider Income’s Enhanced Home Insurance. This plan provides several benefits for tenants, such as:

• Standard coverage for your building¹, home contents² and renovation³, that covers damages and losses caused by insured events such as fire⁴, pipe burst⁵, theft⁶ and more.

• Up to $5,000,000 Family Worldwide Liability and $500,000 sub-limit for Tenant Liability to Landlord⁷.

• Flexibility to decide how much coverage you want for your home, avoiding both over-insurance and under-insurance.

Start this new stage of life on the right foot

You don’t have to have every little detail figured out when you first move out of your parents’ house in your 20s. 

What matters more is having the basics in place: a rental you can afford, enough savings beyond the initial move, clear tenancy terms, and a realistic plan for managing everyday expenses and responsibilities.

Once the practical side is sorted, take a moment to review what you are personally responsible for in the home, from your belongings to any tenant liabilities. If you are considering additional protection, speak to an Income advisor to explore coverage that fits your new living arrangement and needs.

Frequently Asked Questions (FAQs) about renting & moving out of your parents’ home

1. What details should I update after moving to a new address?

Once you move, update your residential address with relevant government agencies, banks, insurers, employers, subscription services, and other organisations that send important correspondence. 

It is also worth updating delivery addresses saved in shopping, food delivery, and transport apps to avoid items being sent to your previous home.

2. Can I decorate or make changes to a rented home?

It depends on the tenancy agreement and the landlord’s approval. Small, reversible changes may be acceptable, but you should usually discuss painting walls, drilling holes, mounting fixtures, or replacing fittings first. 

Before making changes, clarify whether you are expected to restore the property to its original condition when the lease ends.

3. Can I keep a pet in a rental home?

Check whether pets are allowed under the tenancy agreement and whether the property itself has any restrictions. You should also consider the pet’s space needs, noise, cleaning, possible damage, and whether your daily routine allows enough time for care.

If the landlord agrees, make sure to document that permission in writing.