How Much Does It Cost to Move Out?

By Caragh Medlicott

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Created on: 15/10/2025

Reading time: 7 mins

Moving out is an important milestone, symbolising a key step towards independence and responsibility.

These days, it can also be a financially challenging feat; research from the Office for National Statistics shows the age at which young adults move out is steadily rising. ^[1]

As a parent, the fateful day when your child packs up their things and collects the keys to their own place brings with it a whole range of emotions: relief, sadness, apprehension, and pride.

Still, whether they’re moving into university halls or back home to save for a deposit, it’s only natural to want to help them on their way.

This blog will break down everything from the average costs when moving out, to the property options available (whether buying or renting).

So, with a bit of know-how and support, you can help make sure flying the nest is a soaring success — not a tailspin.

Average cost of moving
Are they buying or renting?
First time renter
Average cost of rent in the UK
First time buyers
How much is a first-time buyer deposit?
Hidden costs of moving house
Helping them plan a budget
Building an emergency fund
Financially helping your adult child move out

Average cost of moving

Whether your child wants to move out the minute they turn eighteen or a few years after graduating, the big question remains: how much does it cost to move out?

The answer depends on whether they’re renting or buying — and both options can come with sizable price tags.

If they’re buying, they’ll need a deposit.

In England, the average deposit for a first-time buyer is an eye watering £68,154.00.^[2]

The costs don’t end there, either, with solicitor fees and surveys to consider.

These upfront costs mean buying typically takes several years of saving when starting from scratch. Of course, the process can be sped up or bypassed with help from family or inheritance.

Still, for many, renting is often the first step, especially with housemates to split the financial burden. A room in a shared flat (without bills) averages at about £745 per month (dropping to £665 if you exclude London from the average).^[3]

While renting a room is more affordable, it also comes with less long-term stability.

Rent increases can be sudden, and if a landlord decides to sell a property, you have to start the whole process of moving and managing deposits again.

This is why many parents encourage a safety net in case things go wrong — even if that just means the option of returning home temporarily.

Are they buying or renting?

The cost of moving out of parents’ houses varies depending on the child’s plans.

While not every parent will be helping their child buy a home straight away, some may be in a position to offer support (especially if long-term savings or investments have been put in place).

If you’ve been putting money aside for them in a Junior ISA (JISA), it’s worth remembering that when they turn 18, they can access those funds. This can help cover a rental deposit, moving costs, or even part of a mortgage deposit.

That early planning could make a real difference to their independence, regardless of whether they’re buying or renting.

Still, regardless of your child’s financial situation, let’s dig into the different moving options available.

First time renter

If your child is moving into rented accommodation for the first time, the initial costs can quickly add up.

Most landlords require a deposit, and some will ask for a month’s rent upfront, too.

Given the rising costs of even a one-bedroom flat in the UK, that could easily mean forking out over a grand before even getting the keys to a new place.^[4]

If they’re moving into an unfurnished property, they’ll also need to budget for furniture, kitchen essentials, and perhaps a bed and mattress. Even second-hand, all of this stuff can run into the hundreds.

Contents insurance is another cost worth considering, especially for renters with laptops, tech, or other valuable items.

These expenses often catch first-time renters off guard, so it’s important to help them plan early. If they’ve been saving through a JISA or other account, now might be the time to discuss how those funds could support this first step toward independence.

Next, we’ll cover ongoing monthly costs.

Average cost of rent in the UK

As mentioned earlier, according to Spare Room^[3], the average monthly cost of renting a room in the UK is £748; excluding London, that figure is £665 (a good example of why London often demands more income and financial cushioning to be feasible).

It’ll come as no surprise, then, that London remains the most expensive place to rent a room in the UK, at an average of £980 per month.

By contrast, the North East offers the lowest average at £551, while other more affordable regions include the East Midlands (£566) and Yorkshire and Humberside (£565).^[3]

Even if your child opts to share a home, the cost of rent alone can still take a significant chunk of their monthly income. Add bills on top, and it’s easy to see why saving for a deposit while renting becomes a challenge.

If your child is looking to rent for the first time, understanding regional averages can help them (and you) budget more realistically.

First time buyers

If you’re helping your child look into buying a house, your first thought is likely: “How much is a first-time buyer deposit?”

But buying a first home involves more than just saving for a deposit.

Before your child can get a mortgage, they’ll need to show they can manage money responsibly.

That means building a positive credit history, which can include paying bills on time or using a credit card carefully. Lenders also look for stable employment and a consistent income. Gaps in work or frequent job changes can raise red flags, too.

Even if they qualify for a mortgage, there are some other additional costs.

Flats often come with service charges, and all buyers need to pay solicitor’s fees, usually around £1,000–£1,500.^[5]

If you’re buying a property for your child to live in and the property is purchased in your name, stamp duty will likely apply. However, in England and Northern Ireland, if your child buys the property in their own name as a first-time buyer, they’re usually exempt so long as the property is less than £300,000.^[6]

If the property is between £300,001 and £500,000, they pay 0% on the first £300,000 and 5% on the portion above £300,000. But if the price is over £500,000, they cannot claim first-time buyer relief at all and must pay standard stamp duty rates on the entire purchase price.

For properties in Wales, this is called Land Transaction Tax and is required for homes worth more than £225,000, even if you’re a first-time buyer.

In Scotland, first-time buyers pay Land and Buildings Transaction Tax (LBTT) on homes worth more than £175,000, which is a slightly lower threshold than Wales, but still offers some relief compared to standard buyers who pay LBTT on properties over £145,000.

Beyond these upfront tax costs, they’ll need to budget for ongoing maintenance costs, from leaking taps to roof repairs. All of this will need to be prepared alongside the all-important deposit.

How much is a first-time buyer deposit?

Deposit requirements vary across the UK, so where your child wants to live is the first thing to take into consideration, as property prices can vary widely.

First-time buyers in England are putting down an average deposit of £68,154, which is significantly higher than in other parts of the UK. The average deposit for first-time buyers is £39,034.50 in Northern Ireland, £34,475.91 in Wales, and £30,786.97 in Scotland.^[2]

A lifetime ISA (LISA) can help your child save for a deposit.

With a LISA, your child can save or invest up to £4,000 a year, and the government adds a 25% bonus.

But there’s a catch: the home must cost £450,000 or less.

If they’re looking at properties above that, they may need to consider other savings options (such as a Cash ISA or Stocks and Shares ISA) in order to avoid penalties.

As always, the earlier they start saving, the better chance they have of reaching their target down the line.

But please remember the value of your investments can go down as well as up, and you could get back less than invested.

Hidden costs of moving house

Even after the deposit is sorted, the actual move can bring a string of smaller costs that add up quickly. These hidden expenses are easy to overlook, especially for young adults moving out for the first time.

Here are a few to keep in mind:

Hiring a moving van or removal service.
Buying packing supplies like boxes, tape, and bubble wrap.
Taking time off work (especially if they are paid hourly, self-employed, or still studying).
Stocking up on household essentials such as cleaning products, toilet rolls, light bulbs, and food basics.
Purchasing furniture and appliances if the property isn’t furnished.
Setting up gas, electricity, broadband, and water accounts (some providers charge set-up fees).
Higher-than-expected first bills, particularly if estimated usage is inaccurate or a deposit is required.

A budget for these extras can make the transition smoother.

Supporting your child to plan ahead helps reduce the risk of financial shocks once they’re through the door of their new home.

Helping them plan a budget

Once the initial move is complete, the more daily challenge begins: managing monthly expenses.

Many young adults are surprised by how quickly costs add up.

You can support them by helping map out a realistic monthly budget that covers the essentials, such as:

Council tax.
Gas and electricity.
Water bills.
Broadband and phone.
Food shopping.
Transport and insurance.
Unexpected costs, like repairs (in rented accommodation, this will most likely be covered by the landlord).

One simple way to guide them is by using the 60/30/10 rule:

60% of their income goes towards needs.
30% towards wants.
10% towards savings.

While not perfect for everyone, it’s a great starting point for building good financial habits. Percentages may fluctuate depending on the individual’s circumstances.

Encouraging your child to track their spending, even just for the first few months, can be eye-opening and incredibly helpful in ensuring they stay on top of their outgoings. A little forward-planning can make independence far more manageable.

Building an emergency fund

One of the most important things your child can do before (or soon after) moving out is build an emergency fund. This pot of money isn’t for holidays or big purchases, but to cover unexpected costs like a broken boiler, lost income, or a car repair.

A good rule of thumb is to aim for at least three months' worth of essential outgoings, including rent, bills, and food. Even saving just a small amount each month can make a difference over time.

Where should they keep it? Well, there are a few options.

At Wealthify, we offer an Easy Access Cash ISA and Instant Access Savings Account.

You can learn more about building an emergency fund in our blog.

Financially helping your adult child move out

A JISA is one way parents can prepare kids for the financial costs of moving out. Of course, it’s important to note this money belongs to the child (even though they can’t access it until adulthood), so they will ultimately get to decide what they want to do with it.

But still, having the JISA there in the first place – and looping them into the savings process – can help them make smart financial decisions later on.

And if you’ve got younger children, now might be the perfect time to start planning ahead. Opening a Junior ISA with Wealthify could help reduce future financial pressure, and give each child their own head start when it’s comes to flying the nest.

Your tax treatment will depend on your individual circumstances, and it may be subject to change in the future.

With investing, your capital is at risk, so the value of your investments can go down as well as up, which means you could get back less than you initially invested.

Wealthify does not provide advice. If you’re not sure whether investing is right for you, please speak to a financial adviser.