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

dizzie

poppysarah wrote: »

Do those parents who are aware of the fact their kids can't buy their own home put it down to them not earning enough or house prices being too high?

House prices are way too high in my opinion Poppysarah and because it is relative, it does no-one much good apart from those who are downsizing or have property besides their own home. Oh, and Gordon Brown of course...higher property prices mean more stamp duty and inheritance tax rolling in! When we went to extend our mortgage a few years back (to put on an extension), our building society had a advert explaining that there will be more and more families who have three generations living under one roof ...due to lack of funding for /provision of care for the elderly and earnings vs house price disparity for the young! So we'll potentially have living with us my mum/parents in law and my then young adult kids in 10 years time....oooh there's something to look forward to :eek:! Hope they won't mind sharing bedrooms.....

Oldernotwiser

zoomy wrote: »

My parents felt I should be paying something partly to get me into the habit of doing so but they understood that with University debts etc. it was hard. In the end I paid them a "rent" which they then have kindly given me back to pay lump sums off my student debts, buy a car and to help with the purchase of my first house.

If you can afford this then it really is a great way to help your kids out whilst still teaching them the value of money and cost of having a roof over their head.

Trouble is, when you've done this once it'll be expected the rest of the time!

It also means that the adult child in question still isn't paying their way!

silvercar

I think most adult children realise that any help you give them when young in the form of living at home free, or subsidising them at uni, or providing washing/ ironing facilities won't continue for ever.

Some parents feel that, while they can afford to subsidise their (young) adult children who are just establishing their own careers etc, then they want to do so.

The fact that some parents won't subsidise their adult children either on principle or because they can't afford it means that some are getting a better deal than others. Well tough, life isn't fair. They can either moan about it, twist it round that they are grown up and standing on their own two feet, or just get on with life.

Jowo_2

On a slightly off topic note:-

The 'mummy's boy' held after his parents are knifed to death at home he refused to leave

The son held over the brutal murders of his retired teacher parents was a 'Mummy's Boy' who had refused to leave home despite being in his mid 30s, it emerged last night.

One theory being investigated by police is that tensions had been rising over 34-year-old Daniel's failure to leave home and start a meaningful career.

It is understood that his parents had bought or rented him a property in South London to make him more independent but he had returned to live with his parents. A source said: 'Daniel's over-dependence on his parents, and his failure to stand on his own two feet, may have prompted a bitter family feud.'

Read more: http://www.dailymail.co.uk/news/article-1217347/Daniel-Dighton-mummys-boy-held-parents-knifed-death-home-refused-leave.html#ixzz0SljVjfQr

poppysarah

ILW wrote: »

May have been said previously, but referring to 18-20 year old children sounds a bit strange to me.

They're your children forever.

Oldernotwiser

poppysarah wrote: »

They're your children forever.

Of course but the word is ambivalent because of its 2 meanings.

We would all agree with the statement "It's a parents' responsibility to support their children" if we were talking about toddlers but most of us would disagree with the statement if it referred to "children" in their twenties and thirties.

NJW69

My 18 year old who lives at home has just gone back into education he doesnt have any income so I give him money every week via standing order in return for chores. When he was doing his apprenticeship and was earning I didn't take any money from him on the understanding he put money into a saving account for his future which he did.

Everyone has different ideas. I don't need him to contribute to our household and if he had been at uni we would have paid his rent etc as we did with our daughter. Our eldest two have left home and live independantly but the eldest is struggling as his wife has been made redundant, his company is suffering due to the recession and they are expecting their first baby. When needed we will help them out as my parents would still help me, if I needed it.

As someone else has said you will always have children whatever age they are and just because they are older does not mean you do not work together to support each other. In the same way if we were struggling and they were doing okay the would help us.

zoomy

Oldernotwiser wrote: »

Trouble is, when you've done this once it'll be expected the rest of the time!

It also means that the adult child in question still isn't paying their way!

Maybe I am just spoilt :rotfl:

... or maybe it depends on the parent child relationship! We are a very close family and it is fair to say thats what's mine is theirs and vice versa. I know that if I am ever in need they will help me out but it works both ways! Their current mortgage deal expires in a few years time and it is highly likely (due to the preformance of certain investments) that there will be a shortfall - thanks to their earlier generosity I will be in a position to help them out

Oldernotwiser

NJW69 wrote: »

My 18 year old who lives at home has just gone back into education he doesnt have any income so I give him money every week via standing order in return for chores. When he was doing his apprenticeship and was earning I didn't take any money from him on the understanding he put money into a saving account for his future which he did.

.

Off topic but have you remembered to reclaim child benefit and tax credit for him?

poppysarah

Oldernotwiser wrote: »

Of course but the word is ambivalent because of its 2 meanings.

We would all agree with the statement "It's a parents' responsibility to support their children" if we were talking about toddlers but most of us would disagree with the statement if it referred to "children" in their twenties and thirties.

Financially yes, and emotionally no. Sadly a lot of people seem to mix the two up and prevent "childen" from ever learning to stand on their own two financial feet (Or should that be on their own wallet...)