Half of younger Brits need to transfer again in with dad and mom to take pleasure in ‘resort of mum and pa’
Around half of Millenial and Gen Z Brits are thinking about moving back in with their parents to enjoy the perks of the ‘hotel of Mum and Dad’
Plenty of us want to move back home to save some cash(Image: Getty Images/iStockphoto)
As many as HALF (49%) of Millennial and Gen Z adults claim they are considering moving back to their childhood home in a desperate bid to save cash, a new survey claims.
As many as one in five (20%) have moved back in with their partner in tow, and 10% have moved back with their own children too, according to the research from Access Self Storage.
Overall, 66% said it was commonplace, in this current climate, for young people to return home to save money on rent.
While as many as 84% have friends or colleagues in their lives who have had no choice but to make the step backwards.
Reasons for moving home emerged as sky-high household bills (77%), rapidly rising rents (71%) and stagnant wages (65%), according to the study by Access Self Storage to mark Self Storage Week.
For many, the so-called “Hotel of Mum and Dad” has become less of a last resort and more of a financial strategy, allowing them to save money on bills and rent (60%), put money aside for their own place (56%), pay off debts (48%) and have their meals cooked for them (23%).
However, the return to the childhood bedroom is not without its challenges, as more than half (54%) of those who have returned, feel conflicted about the decision, describing it as financially sensible but emotionally difficult.
A lack of privacy (73%), living by your parents’ rules (50%), struggling to maintain your lifestyle (33%), keeping your views hidden to limit arguments (29%) and not being able to afford to leave (28%) are the biggest concerns.
The research also highlights a knock-on effect for family homes, with parents suddenly accommodating adult children – and all their belongings. Furniture, bikes, boxes of clothes and work-from-home equipment often arrive with them, creating storage pressures in already busy households.
In fact, three-quarters (77%) of 18-44 year olds worry about where they are going to put all their belongings if they are forced to move home, with 49% already arguing with their parents about their stuff at their house.
Around 95% go a step further and admit they would be annoyed if they had to get rid of their things in order to be able to move into their parents’ house.
Jan-Albert Fourie, General Manager of Operations, said of Self Storage Week: “We’re seeing more young adults using storage as part of this move back home. People don’t want to get rid of their furniture or personal belongings, but there simply isn’t the space when you return to the family house. Self-storage offers families breathing room during what can be a stressful transition.”
He added: “This trend really underlines how tough the rental market has become for younger generations. Moving back in with parents is no longer a failure or a fallback, it’s a practical response to a broken system. Storage plays an important role in helping people make that move without feeling like they’re giving up everything they’ve worked for.”
When asked if they think they’ll ever be able to afford their own place, worryingly, one in three (31%) don’t think they will, leaving more than half (56%) hoping that their parents will eventually leave them their house.
