How many of you still live with your parents 30+?

MaX_PoWah · 2 Dec 2015 at 10:23

cheesyboy said:
£240k is a lot for a first house in Bristol. My old 3-bed Victorian terrace would be worth about £200k now, and it's in a middling-decent area (Fishponds). It was great (still miss living there).

If they're buying in Clifton or Redland or somewhere, then they'll pay a lot more. Presumably they're not, though, since it's a new home. If it's in Bradley Stoke or similar massive development, then they're paying a lot to live in such a hellish, soulless maze (I laugh, but it really is awful)

The house is in Lyde Green. I confess i don't know Bristol at all so i don't know if thats good or bad! Its not the area that worries me. Its the finances of it all

Buffman · 2 Dec 2015 at 11:31

Rroff said:
I believe it came up in another thread that he isn't in that job any more.

Around here a not a total dump in a not totally nasty area 1 bed would set you back atleast 55% of your income on a min wage "full time" job - more like 60-65% if you wanted somewhere within reasonable distance of the main employers in the area (otherwise you'd probably be making up the difference in transport costs).

Thus house share if you need to move / can't afford the area. Living alone is not a requirement of most people ;D

(yes it is crap... And yes I do it

)

NickNR · 2 Dec 2015 at 11:53

I am 31 and currently living with my Dad. I live in the West London suburbs and also work in a small town around that way that does not have great transport links. For a below average at best 1 bedroom flat in my area I am looking 65%+ of my monthly wage and that is before taking bills etc into account. A small studio is 50%+ of my wage and a flat share is about the same, but obviously that would mean bills are covered. I earn below national average wage but certainly above minimum wage (I earn in the low 20s). Unfortunately I don't have saving as I tried to do the "full time" musician from my teens until my mid 20s, I took a big risk with it, and it was one that didn't pay off!

Everything within a commutable distance is the same or more, in fact someone at my work recently bought a place (he is single) and had to move to Corby as that was the only place he could afford, and he saved for over 10 years for the deposit, he now travels about 5 hours per day for work and it is putting huge strain on him. Where I live, unless you earn a good wage you need to live with someone (girlfriend, wife etc) or flat share, living on your own on a low wage is really not an option anywhere in the area. Which is a shame as I love the area I live in, I'm looking at being out next year, but it will certainly be a struggle.

Jano · 2 Dec 2015 at 12:26

36 and was living with parents until almost 34. Could I have moved out earlier, almost certainly, would it have been a good idea, hell no. I would also say that living at home allowed me to experience life far more than moving out ever could, having to not worry financially too much allowed me to travel extensively, which has proven far more valuable to me than sitting in whatever hovel I could have afforded when I was younger and not having two pennies to rub together.

In the end it took the help to buy scheme to enable us to move out, it's also meant we've been able to pay off 25% of the mortgage in two years, that includes paying off the equity loan provided through the scheme. We will also be looking to move to a larger property but need to make sure we can actually afford to do so. We paid £235k for our two bed house, it's now worth around £330k and we're looking at 3 beds that are selling at around £400k. While it's more than possible on our wages I don't want us to be financially crippled for life should the interest rated surge up, it's just absolutely absurd how much house prices are going up here in a very short space of time.

neoboy · 2 Dec 2015 at 13:18

London just sounds like a totally different kettle of fish to the majority of the country in all fairness. I've got university friends on mid £20k salaries down there who are barely scraping by and that's while they still pretty much live student like lifestyle of sharing not particularly great accommodation, in some cases with strangers they have nothing in common.

NickNR · 2 Dec 2015 at 13:54

neoboy said:
London just sounds like a totally different kettle of fish to the majority of the country in all fairness. I've got university friends on mid £20k salaries down there who are barely scraping by and that's while they still pretty much live student like lifestyle of sharing not particularly great accommodation, in some cases with strangers they have nothing in common.

This is the case for many unfortunately. I grew up in Central London, my parents bought the flat they were living in from the council, I can't remember what they paid for it, but I know it is worth probably 15-20 times what it was worth when they bought it in the early 80s.

The average price for a 1 bedroom flat in the area I live in is around £275,000, 2 and 3 bedrooms are more like £350,000+. To get to truly "affordable" living you need to move to a very different area, which probably means a new job and moving away from family, which in my case, am very close to. It is understandable than many people don't want to do that. If you grew up in an area that is now unaffordable for many, it can be a tough pill to swallow.

How on earth young people nowadays are supposed to get the deposits etc together in the South East when the cost of living is so high unless they have people that can help them out is beyond me!

cheesyboy · 2 Dec 2015 at 13:57

MaX_PoWah said:
The house is in Lyde Green. I confess i don't know Bristol at all so i don't know if thats good or bad! Its not the area that worries me. Its the finances of it all

Well, it better be a big ****ing house for that money. Looks like an entirely new development just outside the ringroad. Lots of people like that sort of thing, but it's my idea of hell

.

Mr-White · 2 Dec 2015 at 14:11

Was 34 last week and still living at home, although I did go to uni and lived away on and off after that but eventually moved back home because I didn't want to live on my own. I have no plans on moving out despite a good income and a large amount of savings.

MW

roadie · 2 Dec 2015 at 14:14

I have moved back in with my parents a couple of times. The first was shortly before going back to university aged 30, the second after graduating with distinction from my masters course approximately a year later.

Both were for short periods of time and were the result of a tenancy ending or to job hunt within a better job market.

I found it to be a positive experience. I could help with a lot of the physical stuff my parents aren't as capable with as they once were, as well as cooking and housework. In return, I was able to live somewhere nice, cheaply. And to bring sunshine into their lives*

*Honest.

Grimley · 2 Dec 2015 at 14:15

subbytna said:
Unless they are caring for the parents, living under their roof, at 41 and taking the proverbial P by staying on in the parents house, instead of letting the parents have some "us time" is horrible. Get off your rear end and find your own place and let your parents have some time to themselves.

I'm almost 50 (end of this month) I still live at home. I pay my way though & I do all the decorating/DIY, run errands etc & to deal with problems that they can't solve themselves (near enough all the time now). They said if I didn't live at home they would take on a lodger for company's sake. I look after the house when they go away on holiday too. I do this in the knowledge that I will have to give up my full-time job sooner or later to care for either of them or both.

I have got my own place, but living there would mean a 200 mile round trip to work everyday, I would have no time or money to spend if I lived there with the hours I work.

FoxEye · 2 Dec 2015 at 15:35

The Craig said:
Thus house share if you need to move / can't afford the area. Living alone is not a requirement of most people ;D

(yes it is crap... And yes I do it )

Had enough of house sharing at uni. You are quite correct - it's crap.

Living at home with my mum is also house sharing

It's not crap; we're both happy to share the place. It also costs me a lot less, and benefits mum who doesn't drive (etc, etc).

Mum & dad aren't together, so mum would be alone if I moved it. In fact she's said she'd not be able to keep the place together on her own, so she'd have to move into a small one-bedroom flat.

I'd have to house-share with strangers - and that has many complications. I have an indoor cat, who I will not be parting with under any circumstances. What are the chances of finding 1. a house that allows pets, 2. flat-mates that like cats & 3. flat-mates who will take care not to let the cat out?

Realistically, house-sharing is not an option. No, I will not abandon my little furball.

Rroff · 2 Dec 2015 at 15:40

The Craig said:
Thus house share if you need to move / can't afford the area. Living alone is not a requirement of most people ;D

(yes it is crap... And yes I do it )

There aren't that many house shares around this area or atleast vacancies - I think there was 1 on sites like rightmove when I was checking prices before posting and 2-3 advertised on local boards but I wouldn't wish those locations on my worst enemy.

dowie · 2 Dec 2015 at 15:46

FoxEye said:
Yes, it's so much better to pay all your money to a stranger (landlord), have no disposable income, and no security in your dwelling (you can get kicked out with 2 weeks notice in some cases...)

That sounds like bliss.

(Meanwhile your landlord uses your rent to buy his son and daughter their own houses, so they don't have to pay rent like the plebs...)

I feel sorry for people who would cripple themselves financially for the sake of avoiding some social stigma/embarrassment. If they had a choice in the matter.

I don't think it helps to have a chip on your shoulder about either scenario.

Moving out for the sake of it when it isn't financially viable due to some perceived stigma about living with parents is silly. But also not moving out when it would make sense to look for work etc.. out of some general loathing for landlords is also silly.

Sure landlords make a profit from your rent - but if you can earn an increased salary above the cost of the rent then it still makes sense. Like living in London for example - if you earn 20 something up north and could be earning 40 or 50 something in London it could easily make sense to move despite having some issues about renting.

dowie · 2 Dec 2015 at 15:50

FoxEye said:
I'd have to house-share with strangers - and that has many complications. I have an indoor cat, who I will not be parting with under any circumstances. What are the chances of finding 1. a house that allows pets, 2. flat-mates that like cats & 3. flat-mates who will take care not to let the cat out?

Realistically, house-sharing is not an option. No, I will not abandon my little furball.

lots of this is self inflicted though - you made that 50k job thread and then posted about how your priority was to get a cat or something... now you've got the cat it is suddenly a reason why you can't move. If you're in an area of high unemployment and you're completely inflexible on moving to find work then you might well find yourself stuck in a rut for a while.

cheesyboy · 2 Dec 2015 at 16:04

dowie said:
lots of this is self inflicted though - you made that 50k job thread and then posted about how your priority was to get a cat or something... now you've got the cat it is suddenly a reason why you can't move. If you're in an area of high unemployment and you're completely inflexible on moving to find work then you might well find yourself stuck in a rut for a while.

Foxeye doesn't want to move out. He kind of wanted to move out before, hence that thread, but it was all part of a plan to be able to have a cat - for some reason (I forget) he couldn't have a cat if he carried on living with his mother. Once that changed and he got a cat, he no longer needed to move, so he no longer needed a £50k job.

The rest of it is just half-hearted excuses to try to validate his lack of desire to move out from under his mum's wing. Truthfully, he should just own the fact that he's happy being at home. Embrace it.

Some people are just different.

Yeah, it still seems damned weird to me, but everyone walks their own path. Some of them do it whilst resolutely holding their mum's hand

Howard · 2 Dec 2015 at 16:09

I'm 28 and will be moving out (in?) to a house with my girlfriend shortly (in the next few weeks). We'll be renting since the cost of buying a house around here is absolutely astronomical. If it was just my income I'd be eating beans on toast every night, but between us - if my maths isn't wildly off - we'll be able to still put some money away each month after all the outgoings so we can one day buy a house. I'm not that fussed about renting though - a place to live is a place to live and we can afford more than just a pokey 1-bed flat.

I've lived at home this long because of the aforementioned expense of moving out, and because I had plenty of space and freedom at my parents'. I also help out and pitch in with a lot of 'stuff around the house' as well as various family responsibilities, and I generally have no problem with their company and vice versa. Obviously now though, it's time to move on

.

Yes I could have saved up more money and spent less on, well, stuff.. But c'est la vie.

I don't see an issue with someone staying at home in their 20s or whatever unless they're just a silly irresponsible man-child. Everyone has their reasons. Unless there are issues with family meaning they can't bear it past their 18th birthday, I don't necessarily agree with the whole "get out and on your own ASAP" mantra.

George Hincapie · 2 Dec 2015 at 16:13

There are a few guys on my team at work who are in their early 30s and living with parents. One of the guys is living with his long term GF at her parents home because the cost of rent meant they were struggling to save a deposit. They are looking to buy in the outskirts of London and have a £260K budget for their first two bedroom flat or house. From what he has said, there is incredible competition and demand at that level in the market.

Personally, I left home at 16 to join the Army, so not an issue for me.

Radox-0 · 2 Dec 2015 at 16:22

25 here, technically living at home, but have just brought my own place, a two bed flat for 210k (technically second), just now waiting for them to move out as they are in a chain, hopefully is sorted before April! Proberbly a dumb time to buy as there was so much competition at this price level. Pretty madness as a year ago me and my brother brought a similar flat to rent out for £165k, prices have gone right crazy since then.

Not to bad as Central London takes 35 mins to get to by train, but the closer properties are far outside my bracket

jonneymendoza · 2 Dec 2015 at 16:51

neoboy said:
London just sounds like a totally different kettle of fish to the majority of the country in all fairness. I've got university friends on mid £20k salaries down there who are barely scraping by and that's while they still pretty much live student like lifestyle of sharing not particularly great accommodation, in some cases with strangers they have nothing in common.

this is the case mate, In london they driving away all the local people and out comes the rich investors pricing up the market away from is. its crazy

StriderX · 2 Dec 2015 at 16:52

jonneymendoza said:
this is the case mate, In london they driving away all the local people and out comes the rich investors pricing up the market away from is. its crazy

So it will be dead eventually, culture doesn't follow wealth.