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One in five kids don’t move out until they are over 26

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Written by: Christina Hoghton
12/02/2016
The hotel of mum and dad is staying open for longer, and in many cases kids stay there free of charge.

A fifth of adults are waiting until they are at least 26 years old before leaving the family home, according to research from Nationwide Mortgages.

And many of them are happy to stay there, with nearly a third admitting they are not saving any money while at home, despite two thirds being in full or part-time employment.

Staying for free

Even more surprising is the fact that 20% of adults who work and live with their parents fail to contribute towards any bills, rent or even food.

Women are less likely to contribute to mum and dad, with 22% offering nothing, compared with 17% of men. However, the survey revealed women are the better savers, with more than two in five putting some money away, compared with around a third of men.

More than a quarter of adults want to stay at home because they are trying to save a deposit for their own home, while more than one in 10 admit it’s easier to live at home.

Andrew Baddeley-Chappell, Nationwide’s head of policy, mortgages & savings, said: “Rental costs and deposits or the need to save for a mortgage deposit mean that some children understandably have to wait before flying the nest. And, for some, moving out may never be an option.

“For parents, a delayed offspring departure often incurs unforeseen and prolonged costs and expenses, since our research shows a surprising number of adults who, while continuing to live at home, do not contribute towards bills or even save any money to be able to enable them to move out.”

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