"There's no place like home."This English saying has much truth in it: the best place to be is surrounded by our treasured possessions and our loved ones and with a roof over our head. And for many young adults, it's the only affordable place to stay; somewhere where they can receive first-class service from mum and dad. But this comes at a price!
In some countries, it's quite traditional for people in their late teens and early 20s to live at home with their parents, but in other places, flying out of the nest to start their own independent life is very desirable. But there's been a growing trend, in the UK at least, for young people to return home to live—or not to leave home at all.
A survey by a price comparison website found that 18% of adult children in the UK said they were moving back home because of debt, compared with 8% last year. More young people had lost their jobs, and others couldn't afford their rent compared with the previous year. So, it's easy to see why they're increasingly becoming home birds.
The BBC's Lucy Hooker explains that many returning adult children enjoy home comforts. But for the "hoteliers", that's mum and dad. The survey reveals the average cost to them has gone up sharply, and that they are sacrificing luxuries and holidays to look after their "big kids". Emma Craig from Money supermarket says, "They're trying to look after their children more. If your children come home and you see them struggling financially, you feel more awkward asking them for rent or to contribute. It tugs on your heartstrings more. "
With parents splashing out around ￡1, 886 on takeaway food, buying new furniture and upgrading their Wi-Fi for the benefit of their offspring, it's easy for the returning children to put their feet up and make themselves at home. That's before they learn a home truth that one day it might be their own kids who'll be checking into the hotel of mum and dad!
