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How Long Is Too Long To Live With Your Parents?
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Are your kids crashing on your sofa too long?
Recent studies have quantified the trend. A Pew Research Center analysis found that the number of adults between the ages of 18 and 31 living at home rose to 36% in 2012—the highest percentage in four decades. Another report by the housing website Truliafound that household formation has been muted thanks partly to the reluctance of this generation to move out from under mom and dad’s roof.
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But how long is too long to crash at mom and dad’s?
Five years after finishing college, according to a new survey from Coldwell Banker Real Estate
That’s how long, on average, parents said it was OK for adult children to live at home.
And that’s how long millennials, those between the ages of 18 and 34, said was their limit to room with mom and dad.
Other parents won’t set a boundary on the time they’re willing to let their kids live with them: 24% of all parents polled think it’s fine for adult children to live at home as long as they want.
The reasons more kids are living at home longer are logical: “Some of these millennials are coming out and have huge college loans. And also the jobs being offered out there are very often temp jobs and part-time jobs,” said Robi Ludwig, a psychotherapist who worked with Coldwell Banker on the survey. These realities have helped remove the stigma that used to come with living with your parents as a young adult.
It’s almost like 27 is the new 18, Ludwig said.
At home longer than expected
That’s why Meredith Ingle didn’t give much thought to moving back home when she graduated. It was 2008, her graduating class had a 60% hire rate, and she was looking for work in her hometown area.
Still, she never envisioned living with her parents as long as she did.
Her plan was to pay off student loans and other debt, while saving for the future. In the beginning, her parents were excited to have her home. By the time she moved out nearly three years later, everyone was ready.
“Had I not been laid off and unemployed for a few months, then I would have been gone a bit sooner,” Ingle said.
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