House prices and mortgage costs: Why adult kids can't leave home


As energy prices soar and rents increase by 9% annually, record high housing prices are causing more people in their 20s to live with their families. This is particularly common with sons. However, this arrangement comes with challenges. For example, Anne Thompson’s son, Will, still has her wash his clothes even though he pays rent. Will is about to turn 25 and would like to move out, but he lives in Cornwall where prices are too high.

Young single adults often struggle to find affordable homes to rent or buy, even if they live frugally. In a recent report by the Institute for Fiscal Studies (IFS), the percentage of individuals aged 25 to 34 living with their parents has increased by over a third in nearly two decades. Men are less likely to have left the family home than women, with almost a quarter of individuals in their 20s still residing with their parents. These individuals are living with their parents either due to a financial shock or because they cannot afford to live independently.

NHS administration manager Kieran Fifield is one such individual who still lives at home. After his father died in 2020, he stays with his mom and brother. His girlfriend spends weekends with him, which works for all parties involved. Kieran completed his studies back at home due to the pandemic, and the cost of rent in the south of England has prevented him from leaving his family’s home.

Other individuals who have spoken to the BBC revealed how they make the living arrangements work. One individual has lived with her mom for the past five years and has found a balance between independence and quality time with her. Another individual revealed that living with his family is the only way he can realistically save for a deposit to purchase his home. A recent survey by Barclays found that a growing number of those who have left their family home still require financial assistance from their parents.

Many people who fly the nest will still need help from their families to purchase their own homes. Renters advise beginning the search for a home well before the tenancy’s end and registering with numerous agents to secure a rental property. They also recommend maintaining payslips, a job recommendation, and a reference from a previous landlord while building strong relationships with local real estate agents. Besides, be sure of your budget and calculate how much you can provide upfront, and some agents could offer sneak peeks of properties on social media before listing them

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