A survey conducted by budgeting account provider, thinkmoney.co.uk, has revealed that nearly 500,000 young working adults are choosing to stay at home with their parents because they prefer an easy life.
According to the findings, just 44% of 18-34 year-olds living at home are paying rent, while 42% don’t make any financial contributions. Only 15% pay rent from time to time.
As well as the financial benefits, young adults living with their parents said they particularly enjoy the “home cooking” and “home comforts”.
In fact, four out of five parents (84%) do all the washing for their grown-up children still living at home, while 82% do their food shopping, 55% do their ironing and 25% even clean their rooms.
Around the North West regions of the UK, living at home is particularly desirable, with nearly 28% of respondents admitting to preferring the idea of living with their parents than moving out.
The North East also showed a high number (26%) of young adults choosing to stay at home.
Despite these figures, a large proportion of young adults would prefer to move out, and feel they have been forced to return to the clutches of mum and dad.
Ian Williams, spokesman for thinkmoney, says: “There have been many reports in recent years that 20-somethings are being forced back into the family home because they can’t afford to get on the housing ladder or rent their own place.
“Whilst there is no doubt that finances are a key factor for the majority, a sizeable minority are choosing to live at home to enjoy an easy life. Not having to contribute financially or help out around the property certainly makes staying at home with mum and dad a cushy choice.”