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A Quarter Of Young Adults Live At "Hotel Mum And Dad"
30 August 2019, 14:23 | Updated: 30 August 2019, 14:29
The number of young adults living at home and enjoying home comforts like cooked meals has been growing steadily for 15 years, the ONS says.
Many returning adult children benefit from having a full fridge and their washing done for them, as well as their bills being covered by the "hotel of mum and dad", according to a survey by price comparison website MoneySuperMarket.
The average cost to mums and dads has risen up sharply, meaning many parents are sacrificing luxuries and holidays, the survey found.
MoneySuperMarket found that last year, adult offspring were returning for an average of 9.7 months, while parents were incurring costs of around £895.
This year, the "kidults" were staying longer - just over 10 months - and costing their parents £1,640 as the householders shouldered the water, heating and electricity bills, as well as paying for takeaway meals, toiletries and food.
On top of the day-to-day spending, parents reported forking out £1,886 on redecorating, buying new furniture and upgrading their wi-fi to accommodate returning offspring.
MoneySupermarket explains that the reasons for young people returning home are varied.
In some cases, young people will have come home after finishing university, perhaps with the intention of moving out once they get a job.
Others may have left home at some point to start work, but then found that renting with friends or in a shared house was financially unsustainable.
For others, maybe a relationship has broken down and their change in circumstances leaves them with no option but to move back in with parents.
The survey found that 18% of adult children said they were moving back home because of debt, compared with 8% last year.
MoneySuperMarket says: "Sharing accommodation can be a strain for all concerned, even if they are close family, so it’s important everyone is aware of others’ needs and feelings.
"It’s probably a good idea to have a sit-down chat with your child early on, just to set some boundaries and expectations."