Simple things like running your heat in the winter, getting renters insurance or the meaning of a signed contract are too often disregarded. I am here to give a few common sense tips to living on your own for the first time.

When you sign a contract you are bound to all terms of that contract until it expires.

Most would think running your heat in the winter would be common sense. Unfortunately, this is not the case. When water freezes and expands in a pipe running through your home, the pipe bursts, causing water to run freely throughout your home, damaging everything.

Choosing to try and save money by shutting off your heat may end up costing you more in the long run. It will take at least three times the amount of gas or electric to heat a space back up to a desired temperature. If pipes do burst, you could be looking at a repair cost of upwards of $30,000. All rental properties are covered by insurance to repair the building but not renters’ personal belongings. The insurance company can also hold the tenant liable if they feel it was caused by neglect.

Lastly, get renters insurance. Renters insurance will cover all your personal belongings that are lost as well as reimbursement to stay elsewhere while your place is repaired. Renters insurance is about $10 to $15 a month and is worth every penny when your belongings are damaged or worse, your home is rendered uninhabitable.