Most teenagers dream of moving into a pad they can call their own. However, you may have graduated from college and found yourself burdened by student loan debt. Or maybe you’ve embarked on an entry-level career near your hometown. Young adults don’t always earn much money, but you still need a place to call home despite rising rents and home prices.
This is why many young adults have opted to keep living at home. It’s a trend that’s increasingly common. In 2016, 32.1% of people aged 18-34 lived with their parents. There’s a reason for this shift, so before you pack your bags and sign a lease, consider the following advantages of living with your parents.
Ready to Take Ownership?
Get weekly tips to help you make the most of your space!
1. You Save More Money
The most significant advantage of living with your parents is the financial one. If you’re struggling under the weight of student loan debt, for example, you’re not alone. Students owed an average amount of $37,172 in 2017. Staying with your folks can help you pay down debt more quickly. Think of it this way — if you’d pay $1,000 per month in rent, you can devote that payment to debt reduction. Plus, you’ll save extra on utilities.
Even when you factor in things like electric, you probably don’t realize the full amount of the incidental savings. If you live independently and run out of coffee creamer, guess what? You’re pulling your boots on over your jammies and shuffling to the corner store. Plus, you’re whipping out your debit card for the purchase. When you live at home and need a dollop? Chances are, your mom and dad have some in the fridge.
2. You Gain Help With Chores
Friends can be fun, but anyone who’s moved in with roommates in the past knows that even the best companion can make for a terrible living partner. Your parents, on the other hand, have years of experience managing a household. Plus, they’re far more likely to care about the state of their home than your friends do about the state of a run-down rental.
When you cohabitate with your parents, you shouldn’t expect them to pick up after you the way they did when you were a child. Nevertheless, it’s far preferable to come home to a predictably clean sink than a basin full of your roommate’s leftovers. As long as you reliably pitch in, it’s an arrangement that works for many families.
3. You Always Have What You Need
One of the primary advantages of living with your parents means practically never running out of the basics — like socks, or salt and pepper. When you start fresh in a new apartment, you have to stock up on all the essentials for the first time. When you live with your parents, their kitchen, bathrooms and supply closets are likely to be stocked from years of residence.
Do remember, though, that kindness flows both ways. If you notice your folks are running low on food storage bags, for example, head to the store and stock up on reusables for them. Once employed, you should have ample disposable income to cover the cost, after all.
4. You’re Never Lonely
Admittedly, a bit too much togetherness isn’t one of the advantages of living with your parents. In Australia, however, one out of every three young people reports feeling lonely, and this draining emotion isn’t limitedto down under. When you live with your folks, though, you won’t rank among their numbers.
You will need to adjust to a new reality when living at home. You can’t make a racket at all hours if your parents work early in the morning. Plus, you might need to make accommodations for intimate evenings. Still, when you’ve had a challenging day, and you need a listening ear, you know that you have a pair.
5. You Feel a Sense of Purpose
Not everyone lives with their parents for financial savings. Instead, many people act as caretakers for family members in need. Living with your parents gives you a purpose to get up in the morning. Many adults cherish the opportunity to take care of the people who raised them. If your caregivers are elderly or growing infirm, you can help them with activities of daily living.
Not that there isn’t a financial upside. Considering the high cost of senior care in America — around $21 an hour for an in-home helper — you’re providing a valuable economic benefit. Your mom and dad get to stay in the home where they raised you, and they have the security of knowing they’re not alone.
Revel in the Benefits of Living With Your Parents
Now that you know the advantages of living with parents, are you ready to pack your bags? Living in your mom’s basement may give you a bad rap, but there’s actually little reason for a functional, productive adult to feel shame for staying home.
Living with your parents can help you save money and get a leg up in the future. Plus, it’s far more reliable to live with people who take responsibility for their homes. Whether you’re a new grad, an entry-level worker or a family caretaker, take pride in a wise decision.