If you have a child who is heading off to school this fall and living off campus for the first time, they are going to need much more than just a rent cheque. While setting up a first apartment can be fun, it’s also expensive and requires some forethought, especially if the university is far from your hometown.

Going to school and living away from home is expensive enough as it is. A quick look at four Ontario universities – the University of Western Ontario, the University of Waterloo, McMaster University and the University of Windsor – showed that tuition, residence or rent, food, activity fees and books add up to between $23,000 and $30,000 a year for a student living away from home. So saving money in any way you can is important.

Starting the process of gathering what they need in advance of move-in day means you can be more thoughtful about what you buy and save money. Leaving it to the last minute can mean you have fewer choices and end up spending more than you need to.

Here are a few tips to help you make the most of your money.

Make a list

Start with the basic things a student needs to get set up, like bedding, a dresser and a desk. Then, think about the myriad of smaller items that might not come to mind immediately, such as lamps, clothes hangers and towels. Then there are communal items, including kitchenware, cleaning supplies and items for the living room to consider. Your student will need to do some legwork, co-ordinating with their roommates and checking with the landlord about what’s included. Once you have a list, you can make a plan for tackling it in the most cost-effective way possible.

Start with less

It’s tempting to go all out and overbuy. Getting caught up in the excitement is to be expected, as anyone who has ever cruised through Ikea can attest to. Restrain yourself. Start with just the basics, the things needed to get through the first few weeks. By living in the space and getting into a routine, your student will soon discover what they really need – and what they don’t. And remember, all of this stuff might need to be moved several times over the course of their university years, so think carefully about just how much you want them to accumulate.

Look for used items

There are lots of ways to find second-hand items for a new house. And here is where advanced planning is really beneficial. Ask your family members, neighbours and friends if they have things that they don’t need and want to get rid of. Second-hand stores abound, and they can have some excellent treasures. Dishes, cutlery, glasses and mugs are great things to get there. For bigger items such as furniture, consignment shops and Kijiji have a ton of stuff. You are much more likely to have success finding what you need if you have more time to look around. Going to second-hand stores near your home instead of right next to the university, for example, means you’re much more likely to hit the jackpot.

Be choosy

While you might be able to scrimp and save on some things, other things might be worth spending more on. Students tend to move around a lot, so finding high-quality furniture that will withstand the multiple trips in and out of the U-Haul might save money in the long-term. When looking for things like a bed and a desk, consider what they are made of – solid wood is more likely to withstand the test of time than something cheaper made with particle board, for example. Student houses might also be subject to a lot of wear and tear, and furniture made of glass and metal might get broken or damaged. Also, consider what things will really add value. For example, a toaster oven is a great appliance for making quick meals and snacks, a sure-fire money-saving investment. And a very comfortable desk chair will get good use.

Working with your child to set up their first off-campus home can be a lot of fun. It’s also a great learning opportunity for them – teaching them how to plan ahead and be smart with money will serve them well during their student years and beyond.

Anita Bruinsma
The Globe and Mail, August 18, 2024