Are you one of the boomerang generation?
Published 15 September 2014 by Hayley Cox
Of the 20-somethings currently living at their parents’, many have moved back there. Finances, health and relationship breakdown were all listed as factors driving Brits home again.
You’ve heard of the baby boomers and Generation X, but what about the boomerang generation? These are the 20-somethings who fly the family nest, only to return to it a few years later.
No place like home
New research* carried out for our Great Escape campaign has revealed that nearly half of the 18 to 34-year-olds currently living with their parents returned there after originally moving out. The majority moved out to attend college or university and then headed back to the family fold.
Respondents gave all sorts of reasons for why they went home again, and it’s perhaps no surprise the main one was finances. A third said they went back to live with their parents so they could save money, while 27% said they simply couldn’t afford to live away anymore.
What becomes of the brokenhearted?
But money wasn’t the only thing driving people home. Sadly, one in 10 revealed they had to move back after their relationship came to an end. With our research showing it costs £1,060 a month* to rent a flat, pay your council tax, utility bills, groceries and other household expenses; it’s a commitment certainly more manageable if there’s two of you. If you broke up with the person you’re living with, you may have no other choice than to return to your mum and dad’s.
Other factors driving boomerangers home again include poor health. Nearly 2% of respondents said ill health meant they had to move in with their parents, while 15% went back so they could be a carer for their dad or mum.
Unfortunately, sometimes life can throw things at you that make you feel as though you have to take a step back. But moving in with your parents can hold lots of advantages.
You can use the time you’re back under their roof to budget and save up to move out again. And in the meantime, you can enjoy all those home comforts you’ll be leaving behind.
*OnePoll questioned 1,000 adults aged 18 and over between 8th August and 14th August 2014. 500 respondents were aged between 18 and 34 and living with their parents. 500 respondents were aged 18 and over and had children aged 18 to 34 living at home with them.