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Daily Mirror
Daily Mirror
Business
James Andrews

How much living at home as an adult really costs your parents

Nearly a million more young adults now live with their parents than they did 20 years ago as housing pressures bite, but have you ever thought about what it's costing them?

Figures from the Civitas think tank show that overall there are now 3.4 million 20 to 34-year-olds living in the parental home .

But while it saves them money, it costs their parents thoudands.

Figures from Fidelity International show having an adult child living with you adds an average of £1,780 extra to household expenses every year. 

Tom Stevenson, from Fidelity International, said: Offering children a financial helping hand doesn’t stop the moment they celebrate their eighteenth birthday."

He added: “The challenge is that financially supporting your children has no definite end date, and not everyone has an infinite source of money to draw on.”

Time to move out son? (Getty Images)

And bills do rise - from increased electricity and hot water use, through to food, drink and more. Even things like increased laundry and more dishes to clean add up over a year.

Despite the extra costs, half of parents said they loved having their children at home and would like them to stay stay forever, while two in five said they were lucky to be in a position where they could continue to support their children.

But it's not positive for all , one in eight said it puts pressure on their finances, and one in ten admitted it had strained their relationship with their partner.

When asked, 12% of parents said they'd like their children to move out if they had the option.

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