This Is the Number One Reason People Move Back in with Their Parents
Homes.com asked more than 1,000 people about moving in with their parents. Here are the surprising results.
Graduate high school. Attend college. Start a job. Move out of your parent’s house. That’s what's expected of adults, right?
But that's not how life always shakes out. There are many different paths people can follow in life. One of them involves moving in with parents after living alone for a bit. These people are called boomerangers, and they all landed back at home for various reasons.
Homes.com conducted a survey asking boomerangers why they returned to their childhood homes. 1,100 people responded, and there were a few trends revealed in their responses.
For young boomerangers (ages 20-25), saving money for a home or other big purchase was the main reason behind moving in with parents. Lack of job and debt rank third and fourth for the same age group. On the flip side, older boomerangers (ages 41 and up) cited caring for aging parents as the number one motivator to move back home.
It’s the middle group of boomerangers, however, that reached a consensus. The age brackets between 26-40 all agreed that the number one reason for moving back home is because of a failed relationship or divorce. A breakup after owning a home together can be tricky and often leaves one party with no choice but to find quick housing.
Homes.com didn’t just talk to the children, either. They also asked parents whose children moved back in what they thought of the situation. As expected, there were some financial disagreements.
Five percent of children living with parents say their folks cover all their expenses. However, only 12 percent of parents say they pay for everything. Clearly, there is some dispute on who provides finances in a multigenerational household. Based on the survey, 23 percent of children pay rent to their parents, and 45 percent of boomerangers say they pay rent and all of their own bills.
As you’d expect from parents, they’re often willing to help their kids as much as they can. Only 13 percent of the parents said they discourage their children from moving back home and many don’t even set a time limit of how long their kids can stay.
We’re hoping it doesn’t take long for those who lost love or jobs to find their footing again and get back into a place of their own. A childhood bedroom or basement is hardly enough space for a grown adult, no matter how many small-space organization hacks you have.