I reckon the new normal is parents moving out and leaving the kids.

[Notbuiltforheat]

In southeast England with its stupid house prices for sure.

the chances of any of my three teens earning enough to even rent let alone buy their own gaff round here (Home Counties) is negligible. I bought the family house with their dad (now my ex) before they were born and the mortgage is almost gone. We’d both had our own houses anyway. There is NOTHING even half affordable- even the stuff designated as affordable is nonsense. So my retirement planning is I move out to somewhere smaller and they carry on living here. And I think lots of other parents will be doing the same.

How can it be any other way?

I definitely think we will see a return to multigenerational households.

I’m not talking about converting into 100% separate apartments but the house is easily big enough for 3 reasonable sized spaces. Ground floor - already has kitchen and downstairs WC, just add a shower. First floor has bedrooms including one ensuite, top floor is currently 2 beds and a bathroom. Absolutely do-able and each would have their own space.

All our family are in this town, plus they were born here and all their friends are here so moving away MAY happen but is unlikely.

Maybe there’s a cultural element too, extended family are British Asian so multi generational living isn’t so rare.

They’d all have their own privacy, and be living in an area that there’s no way they could afford as individuals.

I bought a second (teeny) fixer-upper with my partner which we are slowly renovating.

I don't know why everyone is saying this is crazy, I know several families who have adapted their large family homes to make them into small apartments or bedsits for their adult children. I know one family who converted several garages in their rural property, one for each child, and a couple that have created independent bedsit type arrangements, one of those is now 40 years old and still living there.

Personally I won't be doing that as I want my children to move off and away from me, for their sakes and my sakes, not immediately, but in their twenties. I strongly encourage them to do this, I don't think in most cases it works well at all if they go straight into this type of living arrangement and I think it undermines their sense of them being the new family unit (and not the original family).

I also know quite a few adults living at home who have never moved out because of illness, not living separately but in the more conventional one bedroom per person type of arrangement.

Again, I'm happy for my children to come home for a few months to live between houses and jobs and countries, but not to permanently live with me. I've seen so many examples of where it hasn't worked and the adult concerned, who probably has issues either with ME, mental health or some other reason isn't going to ever leave now, even though they are in their late thirties up to mid-forties. It doesn't also provide people with an incentive to earn more money if they can exist on a small part-time wage living in their parents house forever.

Mine are moving out and they know that! I do help with living costs though as an alternative.

Honestly not sure your plan is much different to those who sell up and gift a house deposit to the kids.

Something we can not afford to do and sound like that wouldn't be enough to help your DC get a house.

Not everyone can do what you are proposing - having a second propety is uncommon for a start - but multi generational living will get more common as will kids coming back after uni down purely to costs.

My maternal GM was upset DMum refused to start married life in back bedroom of her council house - instead they'd save hard bough off plan and she still there now. Nether DH or I got help with housing and it was a huge struggle it's just got even harder since.

That is very lucky if you can have family home become 3 x apartments and not so common except may be certain circles. Many families in london will barely have enough room for one bedroom each.
If you can do this and your dc want it then why not? Look at council tax and other implications

My parents did this in 1974. My sister and I had both gone to university, my two older brothers were 24 and 22 and showed no signs of leaving home, so my parents retired to Devon, to a house they had bought with an inheritance a few years earlier (luckily, just before house prices more than doubled between 1971-73)
My brothers paid them rent for 20 years, then were gifted the house in lieu of their eventual inheritance. They lived together - neither ever married - until the younger of them died two years ago, never having lived anywhere else. My eldest brother is now just about to move to a smaller flat after spending 75 years in the previous family home.

How much is your house worth?

Of course it is!
Complete bs, I don’t know of anyone who would ever dream of this being an option!

This is very similar to our plan! 4 bed house in South East, one teen currently living with us, mortgage very nearly paid off.

We want a base in the UK as we are moving abroad, so it makes zero sense for us to sell and downsize (stamp duty, legal fees, moving fees) when the teen can stay living there and we can rent out the extra rooms as and when we like.

Exactly what I thought, the cost !

In london, I don’t see people’s children moving out of the parental home, even in their late twenties and early thirties. It’s the new norm for families to co- reside. Obviously the children live as adults, doing what they want and contributing financially.
With stamp duty, and the cost of property and daily life being so ridiculous, it’s the strength of family values that supports a lot of younger people. But it’s their family of origin, rather than creating their own families. It seems less and less common for them to romanticise coupledom and spawning. The increasing climate change is yet another factor putting people off having children, let alone the cost of living crisis.

But different though you have one child, not 3

I think you're very out of touch with the majority of the average people!

We have three but the two eldest have their own living arrangements.

If they need to move back in, there’s always space.

It’s borne from the same logic, the youngest will need help with a deposit and we’d rather move abroad with our disposable and let them live in the current UK house.

Interesting concept

I don't hate the idea, but I do think it would be better to sell and gift deposits instead. They still get a big step up with help. But I'm guessing it's not a 'now' problem?

They're teens and not working adults so perhaps in the future when they have jobs and start paying rent and get partners you will change your mind. One may go live with his gfs parents, one may move in with her boyfriend and so on.

Personally I assume my eldest will just live with me forever. Undecided on the younger ones yet!

Would surely give them a hefty deposit though?

i can pass my tenancy on as my DD is already on the rent book. The other two are sons so realistically it will be my dd who settles and has children ( my sons are gay). So she can take my tenancy on as she’s already on the rent book. And her brothers are perfectly entitled to live with her. Although we do have the right to buy so it’s feasible that we could also buy the house and have them split the mortgage etc between them as we are mortgage free in less than a year on the flat. The discount is smaller than it used to be but £26k is still better than nothing. I’ll do anything I can to help make sure my kids are housed regardless of age. The civil house I had before this one was a 5 bed and I swapped directly with my eldest daughter so her kids all have their own rooms as I only had one left at home.

I can’t see that being the new norm, no. They’re going to have to move to a cheaper area. There is life and jobs outside of the Home Counties!

There are a. Cheaper places to live b. Even in the se there are more economical options nd c. They might be earning well. 2 of ours are buying currently one has bought, one on her own no help from us. They can save up a deposit

Not enough for deposits?

You can get high income multiples. Take an extra job to save for a deposit. That’s what we did in the 80s.

Eh, no. For a start how would you decide between adult siblings who lives there? It’s bound to cause a rift.
Second, what if you need nursing care in the future? The house will have to be sold right out from under them. It’s not a simple as just ‘signing it over’ as some people seem to think. The local authority could pursue what’s known as deprivation of capital.

But it would give them something towards a deposit … they then have to work and save the rest to get a mortgage, like most people.