So, how is it actually possible for our adult kids to ever move out of home?

[cateringday]

I’m imagining it’s the same for a lot of people.
two kids 20 and 18, they both actually have £10000 in the bank as an inheritance but can’t see how they would ever get enough for a deposit or pay a mortgage. If they rent then all that money will be gone anyway.

how old are kids leaving home these days

we live in the south east

Vocational thank you! I was spraining my last remaining brain cell there. Radiography is good too less patient interaction or science like microbiology etc. biology was always my special interest while numbers were my husband's. I have a vocational healthcare career and my husband is a software engineer.

You're worried your kids have challenges. That's worrying! My eldest has ADHD/ASD (awaiting assessment) and it does give me pause how he'll do long term. Social anxiety being a really hard part of it all. My husband is almost definitely autistic and until mid 20s incredibly socially awkward and then sort of found himself around the time we met and went from strength to strength. Hopefully your daughter has the same trajectory

Do your kids want to save for mortgages or do they want to live a bit first?

Thank you. We did all the life skills before uni, worked hard to prepare. She works part time in a charity shop but this doesn’t seem to be enough to get a job, been there 5 months. We are trying but both work full time

Also as a company owner there are SO many people out there crying out for good staff. But good staff are not to be found now.

They want top whack from day 1 before they’ve even learned the job, they call in sick every time they cough or feel sad, and they can’t cope with being told how to do something.

Every industry is saying the same.

I wouldn't expect such young adults to be buying homes tbh. They rent in shared houses and move up in their careers before trying to buy. If they can stay with parents longer, then they can save more.

All my sons friends house shared in South West London. All £60k+ jobs, professional families. Most private school. 2020 onwards.

I wasn’t really replying to you, more to how the thread has evolved. Sorry if any upset caused!

Nobody's acknowledging that time living in a house share will deplete savings you could put onto a deposit/mortgage. A single room in a London house share could easily take off half your monthly wage as a young professional and with that any potential interest. Eg. I'm living at home a year and a bit after graduation am coming up to 30k savings. I gain on average an extra 5% return for every year they stay in my ISA, but if paying London rent the money would just be gone - the landlord would get the interest and I would obviously see nothing from a sale etc.

At the moment it would only take me a bit more career stability to put me in the position where I could actually buy a flat, which would eventually mean financial independence - but if I moved out it would just go the other way and I'd eventually destroy any chance of doing so, barring any unforeseen rises in income. It's also totally normal to share a house during uni so many young people in this position will know the deal already. In big cities you find people who are stuck in this trap well into their 30s.

My DC bought their first house in a really grotty area with a 10K deposit and 30 year mortgage. This was a year after leaving university. 2 years later bought bigger in a better area, then 2 years later again did the same.
The reality is, if you want to get on the property ladder you have to compromise in some way - area / size of property / length of mortgage / living standards etc.

I think it's that you can't see the wood for the trees, you've done well for yourself and your kids are in a good position and you would feel that equates to things being easier for them.

It's also valid if you just wish your teenagers would eff off sort themselves out and give you a bit of space to yourself back. Mine are 8 and 4, very wanted, dearly loved and i booked a weeks annual leave this week to stay home and have a break from the whole they were at school and nursery and my youngest has a virus and is home with me and I love the bones of her but ffs I just want to watch adult TV and eat ice cream for an hour in a house alone.

Try to let her know it isn't her! At the moment, there is a shortage of entry level jobs both for those with and without degrees and everyone is feeling it. I think all you can do at the moment, if she's already pretty independent, is start to think creatively about what skills she does have and what types of courses or work she is going to be able to manage in the future- it's great she is doing voluntary work and will illustrate her work ethic, but she may need to start thinking what a future career would look like, presumably even if she worked at MacDonalds she wouldn't want to stay there. I like the books by Cal Newport on careers, which are about what type of lifestyle you would like to live and what your skill-set is rather than what you are passionate about (as few people get to work in their passion).

I think you are doing everything you can to support your dd, it's a question of keeping her faith up as much as anything else.

We are acknowledging that, were saying op is lucky her kids have both options many dont

5 months feels like forever but it's honestly.not really. Try to stay positive.

It will have depended hugely on earnings, though, and what young people did for work. Minimum wage when I graduated in 2007 was about £5.50 an hour for 21s and over - I remember my first monthly pay packet after tax was about £900. It got better after a year, when I landed a better job, but it certainly still wouldn’t have been easy for many working young people to afford £475 rent with council tax and bills on top on their own. Everyone I knew was in a houseshare for at least a couple of years after graduating, except those who had a boyfriend or girlfriend thus double money and rented with them.

I always remember my eldest finished university, arrived home and said “ no offence mum but me and best friend are getting a flat in nearby city “ so they did! Worked minimum wage jobs until they worked out what it was they wanted to do. Took a while but they gradually got careers, houses , then families of their own . Which I feel is as it should be, not many have ever been able to leave home and straight into their own homes?

Cheapest 1 bed flats round here are at least £150k. Take off a 10% deposit and that leaves £140k to mortgage, which needs a salary of around £47k (at 3x times salary), so the simple answer is a lot don't!! It's noticeable how few of the graduates at work own property and how many more still live at home than did 20 years ago. even if you live in a flatshare that's a big chunk of income so i doubt they can save very much while renting.

When I left home on the 80’s I moved to London into a pretty low paid job. I earned £200 a month, my rent was £22 a week so pretty much half my salary! Still managed to have fun !!

I think it would of been better if you had written a thread asking people how tgeir autistic kids managed to get jobs and move out as your situation is quite different to the average adult child

If at home, they should be saving for a deposit. Or flat sharing rent? When I left home I moved area completely for a job and rented a room. Then moved into London and rented another room! Then had enough sharing as was getting too old to clean up after others mess, so rented a flat to myself. Cost me £1,000 a month in total and that was 20 years ago. Bliss though. Now in own property.

It is harder for children, but honestly, it cost me £1k a month 20 years ago in the SE (just outside London) and that was hard too. Luckily on a decent wage by then. 2 of my brothers bought a flat together which is always an option to get people on the ladder.

This

Two of mine have bought in the last couple of years but I'm in the West Midlands. They both lived at home and saved like mad along with a small inheritance.
They wouldn't have been able to buy in the London/ South East areas

My 3 (early 30s) have all bought now, two together in London and one on her own in Manchester. Only possible because of £65k inheritance each from my darling father.

However, they moved out of here years ago, living in house shares or renting with partners. Not great financially, but you can’t live with your mum forever and your 20s don’t come back…

They could buy a studio, not a 1 bed. But even then, the maths is a bit wrong. 150K minus 10% is 135K. To get a mortgage to cover that you need to earn 30k/year as it's 4.5 times you salary. It's not that far off full time minimum wage basically.

Yes, I hear this all over as well.

Young people who are reliable and hard working are likely to do very well once they get a position if they are even just average at the work itself.

But at the same time, my inclination when hiring tends to be older people, even retirees, who I find are the least likely to be off for every little thing or have all kinds of restrictions etc. It's so difficult, at least in my job, to let people go, I am not so inclined to take a chance.

Well your situation is very different, you should of went with that first now you have completely irrelevant comments that won’t be of any benefit.