What sort of rent do people charge 18-25 year old children

larmy16

My son pays £400 per month! For that he pays half the rent, it also includes electric, gas, phone, council tax, water, sky tv, washing and food. Oh yes and as we share our car it includes his car insurance too. (plus car tax and repairs) It sounds like a huge amount but really you could not live anywhere else for that kind of money could you?

I hope it is a good thing but I honestly cannot afford to ask him for less, much as I would like to. I guess it would be a bit different if I had a partner who was earning too.

I am hoping it is what the real world is like. I know of a a couple who have a thirty year old son on a very good salary who pays them £20 all in! They then complain they are hard up. I think that is crazy.

SiobhanG_3

I started paying rent as soon as I finished education, my parents' logic quite rightly stating that if I wasn't studying, I should be working and therefore be able to pay rent. I think it was somewhere between 10-20% of what I was earning. I'm 21 now and renting a place of my own, but I know if I left university and moved home, the same rule would apply - if you can work full-time, there's absolutely no excuse for not paying rent.

themanbearpig

toby3000 wrote: »

I don't understand people syaing that moving out of home is 'impossible' for graduates. I didn't move back home after uni, and was doing such well paid jobs as working in a coffee shop and waiting tables. You don't have to pay back stduent loans until you reach £15,000 earning, so it's dishonest to bleat on about the level of student loan as a reason for not moving out. Once you're working, you should pay a fair rent if you're going to stay at home

If I had children I'd be throughly disappointed in them if

a) they didn't want to move out after they were 18 and working and
b) they were so selfish and thoughtless as to expect to live at home rent free

Why is it selfish, if your parents are happy with the arrangement? Most of the money I earn is going to pay back my student loan, and save up money. The £15,000 bracket shouldn't be important, because paying it back sooner is better even if you are under the bracket. Its still a loan, with interest accumulating (albeit at a low rate). I will be able to clear my student loan off in just over a year, because I'm living at home with no expenses.

Surely it should be in a parents interest for their children to pay down their debts, and not to pay them some arbitrary sum instead, just to teach them a "life lesson".

I can appreciate that every families circumstance are different, and its fair enough if the money is needed, but if it isn't, it's completely pointless.

Jowo_2

themanbearpig wrote: »

Surely it should be in a parents interest for their children to pay down their debts, and not to pay them some arbitrary sum instead, just to teach them a "life lesson".

An alternative perspective is that the student loans are not the responsibility of the parents to help to satisfy. If a student wants to invest in their education and reap the benefits from it, then they should be adult enough to deal with repaying it under their own efforts rather than having their lifestyle subsidised to enable it.

What is an arbitrary sum and why is it important for the parents to be needy in order for their adult working children to contribute to household expenses? If a child uses the services in the house and elects to remain at home and their parent offers them a roof over their heads, why should they expect it to cost less than their share of the bills or free?

th1982

I think I may have been extremely lucky with my parents. They didn't charge me anything for board and lodge while I was in full time education (including Uni - and while at uni gave me £50 a week towards food etc). but once I was working (full or part time) I was to pay them (can't remember for sure) 10% of what I earned up to £25 per month, which was very very nominal towards my board and lodge. As i say I think I was very very lucky with my parents as they wanted me to contribute something but wanted me to concentarte on sorting out finances post uni.

They have since also helped me buy a house by giving me some money for the deposit and acting as gaurantors for the mortgage - guess they weren't really *so* bad after all!

Gorgeous_George

I pay my ex-wife £300 per month as my share towards the care of my son. So, £600 must be about right.

Unless of course she spends it on her debt addiction.

Seriously, I'd suggest a third of the kid's take home pay is reasonable. Whether or not you save it on their behalf (without their knowledge) or not is up to yopu.

GG

Bufger

th1982 wrote: »

I think I may have been extremely lucky with my parents. They didn't charge me anything for board and lodge while I was in full time education (including Uni - and while at uni gave me £50 a week towards food etc). but once I was working (full or part time) I was to pay them (can't remember for sure) 10% of what I earned up to £25 per month, which was very very nominal towards my board and lodge. As i say I think I was very very lucky with my parents as they wanted me to contribute something but wanted me to concentarte on sorting out finances post uni.

They have since also helped me buy a house by giving me some money for the deposit and acting as gaurantors for the mortgage - guess they weren't really *so* bad after all!

Dont you feel its all kind of tainted knowing you havent really done any of this on your own? there is satisfaction in sorting out your credit history, saving for a deposit and buying your own house. Knowing you wouldnt have done it without your parents help would have ruined the experience for me.

Riq

tek-monkey wrote: »

Troll or delusioned, you decide

Look to the right of my post, the grey text. :A

If I was leading a life of spending every penny I have on drink and drugs then fair enough I would expect my parents to say something.

But otherwise I live a very MSE life and I am saving so very hard for this god damn house deposit. I am 25 and I have triple the savings of any of my friends which is mainly due to me living at home paying a negligable amount for 'rent'.

If my parents were hard up then I would hesitate to increase my amount but I doubt my mum especially would accept it.

Riq

Bufger wrote: »

Dont you feel its all kind of tainted knowing you havent really done any of this on your own? there is satisfaction in sorting out your credit history, saving for a deposit and buying your own house. Knowing you wouldnt have done it without your parents help would have ruined the experience for me.

How many years ago was this though? Where house prices at a more realistic level?

overandout_2

I am lurking around, reading other ppl's posts. I would like to put my two-pence worth into this.

My parents sent me here to study few years back in college and then 3 years in university. Quite a lot of money you can imagine, as I was studying in London and I was an international student. They paid for everything:- my course, accommodation, food, bills, entertainment...you name it, they paid for it! Granted I really didn't know the meaning of money....my parents just wanted me to concentrate on my studies and not work at all during my university life.

When I came out, I was working and earning very little and couldn't really support myself...my parents helped me for the first few months to get me on my feet, and helped me to buy a small second hand car to drive myself to work... I started appreciating money as days go by....I was in overdraft, and my salary just paid off my overdraft and I start from 0...and the cycle starts again....this time, i didn't tell my parents that I was in overdraft and was determined to get myself out of it

About 8 months into my job, I got another job paying a lot more.....I moved to a cheaper area and could afford and started paying my overdraft. On top of that, I started giving my parents money - it is in our culture to give money to parents once you start working to show appreciation and respect. I think I started at £150 each month...

Then I moved to another job the year after, got a bigger salary, and started giving my parents £200 each month....and now I am giving my parents £250. I capped it at £250 as I needed to save for a mortgage And I do hope they understand.

My parents are overseas, so I rent and do everything myself but I still believe in giving my parents money. After all, what they have done for me while I was a student, I can't really repay in full but I'll do what I can...

I am pretty envious at some children who do get free lodging and parents that help that with daily tasks....but I certainly believe that the child should contribute if they are working.