The ever-increasing age at which kids fly the nest can also place an ever-increasing strain on the Bank of Mum and Dad.
So at what age do most people think it’s fair to start charging their kids board?
The answer is 19 years old, according to a recent Finder.com.au survey of over 2000 Aussies, reports Domain.
“It seems to be the sweet spot nationally. That’s the age kids go to uni, start their first part-time job and generate income and become young adults,” said Graham Cooke, Finder insights manager.
But not all are agreed. One in five respondents said kids should be able to live rent-free at home regardless of their age or finances.
The trend to stay at home longer was leading to more multigenerational households. It was also helping kids save a deposit a first home.
And an increasing number of baby boomer parents are reportedly digging into retirement savings or equity in the family home to help their kids with a house deposit.
As realestate.com.au reports there are various ways for parents to help kids into the housing market, including some that don’t require a cash injection. So all is not lost if you’re ready to leave home before your bank balance is.