Property News · May 4, 2024

My two adult kids have had to move back home. Should I be charging them rent – and if so, how much? | Sue Elliott-Nicholls


They face spiralling costs and insecure work, so I’m glad to help them. But I can’t afford the big rise in my cost of livingThank goodness for the “bank of mum and dad”: now there’s an expression to make me a bit sick in my mouth. I am the parent of two adult children who have moved back home in recent years because they can’t afford to rent somewhere to live. And they are not alone. In January, the Office for National Statistics reported that rental prices had risen 6.2%, the highest annual increase since records began in 2016. The number of families in England and Wales with adult children living with their parents has risen by 13.6% since 2011, according to the 2021 census.Like many other parents, I didn’t expect to be supporting my adult kids. In this economy, my kids aren’t the only ones struggling for cash. Mortgage hikes and the increase in cost of living have left me tightening my belt: donning extra jumpers instead of putting the heating on, and wondering if a hat indoors is taking things a bit too far.Sue Elliott-Nicholls is an actor and broadcaster Continue reading…

Source : theguardian.com
Read more…My two adult kids have had to move back home. Should I be charging them rent – and if so, how much? | Sue Elliott-Nicholls

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