How Much Rent Would You Expect Your Adult Child to Pay While Living at Home?

NormalGoat on 16/01/2022 - 18:45
Last edited 17/01/2022 - 10:29

Curious to hear what people would define an acceptable rent price is for their adult child (who works full time) living at home in 2022.

Rent would include utilities and all meals… although, in that sense, is this technically boarding?

It’s hard to find an answer online as other forums have threads that are not from Australia or they are just out of date (especially given inflation is tracking the way it is).

Thanks to all who have shared their ideas and opinions - this has been invaluable!

Edit: Child (me) is 25 years old, graduated university with a full time job with strong budgeting plan and has no plans to move out. Parents are reaching retirement age.

Financial

Comments

  • Nitrollparty on 16/01/2022 - 18:49
    +239

    i wouldn't expect my child to pay rent at all.. its hard enough for them to get ahead in life in the times we are living. i would expect them to save and get a deposit for a house instead.

    • toristo on 16/01/2022 - 20:31
      +68

      Depending on the motivation of the kid, this could be how you help them - the rent you charge is in effect building the deposit. It teaches them not to blow their entire pay, helps get a lump sum together for a deposit more quickly and also demonstrates a savings history.

      I'd suggest paying their share (e.g. 1/3rd) of utilities and food is completely reasonable if they're living at home and working full time. That's real costs for them having hot showers and emptying your fridge that they would have to pay anyway if they lived out of home.

      If you legitimately do need help with the mortgage, agree the real amount that will be retained, and what would contibute towards saving for a deposit. I'd also take the time to reset expectations around what they contribute around the house (cooking, cleaning, yard work etc that would be otherwise divided in some way in a share house)

      • NormalGoat on 16/01/2022 - 20:42
        +8

        The idea of building the deposit is sweet. Definitely something I’d consider in the future when I have kids who are insistent like me on paying rent while living at home lmao

        • afoveht on 16/01/2022 - 21:32
          +11

          My folks did this for me and it was a great help when I moved out. It's money I would have otherwise spent on frivolities.

        • [Deactivated] on 17/01/2022 - 09:36
          +4

          If you're going to request payment from your kids, my recommendation is to demonstrate the value.

          If my parents requested payments from me - depending on the amounts, I would be considering whether or not there would be more value paying a full rent payment and moving out into my own place, or paying less and living at home under my parents' rules.

          As an example - let's say it's $450 per week for a Studio of my own - if my parents asked for $350 every week I wouldn't think twice and would just move out into my own place and avoid curfews / limitations on: when I can come home / how much noise I can make / play games for 7 hours in a row etc

          Alternatively, if they said $350 per week but you'll get the whole of upstairs 2 bedrooms and the bathroom and the kitchen and it'll be your own space you can invite your friends over - then I'd be quite happy with that.

          I guess asking for an amount without an explanation on what this will give them probably won't go positively. They already have to abide by a number of rules when living at home and I feel like it will just be a further hit on their livelihood and freedom - specially when earning power would be quite low at that age and every dollar will be highly valued.

          • TrustNoBody on 17/01/2022 - 09:53
            +9

            @[Deactivated]: that’s what i did …my mum took have my pay back when i was under 20 and i was rarely home and hardly ate there so i really resented the fact of paying that much so i moved out with a mate ..that’s why i don’t charge my kids rent

            • [Deactivated] on 17/01/2022 - 09:56
              +2

              @TrustNoBody: Yeahp same here =)

            • saltypete on 17/01/2022 - 10:13
              +12

              @TrustNoBody: Thank you! This is how we can get the lazy little blighter out of the house…

              • TrustNoBody on 18/01/2022 - 10:25

                @saltypete: haha …i would say if the kids are lazy they ain’t going to move out , they would probably quite likely pay the rent n sit back and make mum n dad do everything

            • Quantumcat on 17/01/2022 - 11:55
              -3

              @TrustNoBody:

              that’s why i don’t charge my kids rent

              You want them to stay dependent on you and not become independent fully functioning members of society?

              • TrustNoBody on 18/01/2022 - 10:29

                @Quantumcat: yes not charging them rent when they have little money at the time is ok by me ..my daughter is now a nurse , 1 son is working at a resort at coffs , 1 son is still at home on dsp with schizophrenia, 2 other kids are at home as their only 14 and 3 ..but i refuse to charge them anything and judging by my older kids they still moved out and became self reliant

          • Quantumcat on 17/01/2022 - 11:52
            -3

            @[Deactivated]:

            I would be considering whether or not there would be more value paying a full rent payment and moving out into my own place, or paying less and living at home under my parents' rules

            That's exactly what they would be trying to achieve. To get you to move out and not be an adult baby.

            • [Deactivated] on 17/01/2022 - 11:55
              +1

              @Quantumcat: How could you possibly know what they are trying to achieve ?

              My brother and I moved out and they were left with a 7 bedroom house and 2 people to live in it.

              They ended up selling the place and downsizing.

              How adult baby is that ?

              • Quantumcat on 17/01/2022 - 11:57
                +4

                @[Deactivated]:

                How adult baby is that ?

                It's not - so they achieved what they were aiming for.

                Do you think it would be easier to afford to live in a 7 bedroom house while also having to support a bunch of extra adults who don't contribute anything? Obviously you need to contribute!

                • [Deactivated] on 17/01/2022 - 12:00

                  @Quantumcat: They certainly did not achieve what they were aiming for - you seem to know everything about my family.

                  Are you an oracle or something ?

                  The maintenance costs for the place didn't make sense anymore because it was too big.

                  They ended up having to sell their dream home because they were too stubborn to understand comprimise on a 20 year old's lifestyle so that they could benefit from extra income against their mortgage and keep the castle they loved so much.

                  But what do I know ? I was only there when it happened and you weren't but obviously you know better.

                  • Quantumcat on 17/01/2022 - 12:02

                    @[Deactivated]: You're saying they shouldn't have charged you rent

                    But then you said when you moved out they couldn't afford it…?

                    So you living there and using food, water and electricity somehow costs them less than when you're not there?

                    Probably they should have downsized as soon as the youngest was 18 and not given you the option to mooch off them in the first place. Then they wouldn't have had to worry about managing a 7 bedroom home for you

                    • [Deactivated] on 17/01/2022 - 12:05
                      +5

                      @Quantumcat: And now you're making up things that I am saying? don't know where you're getting this story from.

                      They made an offer and I evaluated that it was better value to move out.

                      Bottom line is - the offer they made was not a good offer and so they had to sell the place.

                      My advice is simply - demonstrate value in your proposition and it will go more positively.

                      Was that not clear to you ?

                      You have no idea what they even offered. It was basically "this is how it is and tough".

                      In any negotiation how do you think that's going to go down ?

                      • RatBargain on 18/01/2022 - 22:50
                        +3

                        @[Deactivated]: To be fair. They probably felt as a family unit rather than you blow it to a strange landlord you can help each other pay off the house which you will receive part or whole inheritance of eventually anyway.

                        But short sighted you saw the immediate financial burden to heavy too bear after 18 years of mooching and being nurtured, how dare they ask you for any financial help

                        • [Deactivated] on 18/01/2022 - 23:45
                          -2

                          @RatBargain: Again with the assumptions. Not only did I maintain the place, I renovated parts of it I was using as well. It seems everyone happens to know other people's private affairs.

                          It was hardly a big ask to be able to enjoy a young person lifestyle so that the family could stay together and home be kept.

                          This must be hitting close to home to the people who are super quick to judge - curious what nerve this seems to have hit ?

                          The main message was so simple. Talk to your kids like an adult - demonstrate to them the value and treat it like a proposition rather than a forced mandate and they may even go out of their way to help.

                          Throw them a bone rather than creating limitations.

                          Or whatever - your house your rules no explanation necessary - they're clearly mooching off you because hey they should have joined the workforce for those 18 years right ?

                          I hope you're not a parent (or going to become one) because it saddens me that your expectation is that your kids should contribute financially in their first 18 years of life.

                          If you can't afford to have kids don't have them.

                          • Quantumcat on 19/01/2022 - 20:54
                            +6

                            @[Deactivated]:

                            If you can't afford to have kids don't have them.

                            You are not a kid. There's one thing to debate whether to charge board to 18, 19, or 20 year olds who aren't working full time yet (I think a small amount set to a percentage of what they earn say 25% but would understand if not charging anything). But a working full adult who questions contributing to the household however it is asked of them is terribly self-centered. Why should your parents lose out so you can have more money to go drink with,than if you were supporting yourself?

                            demonstrate to them the value

                            Why should your parents have to demonstrate the value of being a normal person? Your parents should not have to subsidise your lifestyle once you are capable of supporting yourself. If anything you should subsidise THEM. They gave up ~20 years of their lives to raise you and grow you into a proper independent adult who can go on to have a good life. It is the very least you can do as a basic human being to help them back. Next thing you'll be asking is for the street cleaners to demonstrate the value of putting your rubbish in the bin instead of dropping it on the ground for someone else to pick up or for the parking inspectors to demonstrate the value in parking between the lines instead of over the top of them

          • Hairy Nosed Wombat on 20/01/2022 - 19:04

            @[Deactivated]: What they will give?

            So you can afford $450 a week but you'd rather sponge off your parents? and contribute nothing because your parents are so nice to you.

            Do you understand what a family is? or Community? I'm betting you've never done volunteer work because you didn't get something for it.

            Here's a thought given they have looked after you for all these years. Why don't you put your thinking cap on backwards and work out what you think is reasonable and can afford and then have a chat with them and offer them the money. That would be very grown up of you wouldn't it.

            On the other hand given your attitude they'd probably be happy to save some money and see you gone.

        • Antikythera on 18/01/2022 - 01:00
          +2

          insistent like me on paying rent while living at home

          if it is your decision, find out the market rate and pay that. what is the normal 3br place in your location? offer 1/3 of that. plus a share of bills and food on top.

        • Zorlin on 18/01/2022 - 10:07
          +2

          All good in theory, until you have parents that charge you rent "to save for a deposit"… then deny that conversation ever happened when it's time to move out and instead pocket the money ¯_(ツ)_/¯

          • Quantumcat on 19/01/2022 - 21:03
            +1

            @Zorlin: I think if they do give you the money back it needs to be a surprise. Otherwise you aren't learning anything about what it costs to live, it is just enforced savings in your mind

            • Zorlin on 20/01/2022 - 00:53
              +2

              @Quantumcat: As a surprise that would have been great. As it was I never saw that money again.

              Whoops, I mean that totally didn't happen to me. Nope.

      • voo123 on 16/01/2022 - 23:36
        +8

        Excellent idea! Charging rent and putting it into the piggie bank to gift it as a lump sum in the future is the way to go imo. Teaches financial discipline and assists in maintaining generational wealth.

    • voo123 on 16/01/2022 - 23:34
      +13

      It really depends on the kid. Ensure the kid is financially disciplined before offering help such as free rent. For example, once i got a fulltime job, i saved about 80% of my income for 2 years whilst I was living at home rent free. I moved out after working 2 years fulltime to buy a home.

      Another mate, saved 10% of his income whilst also living rent free. The money that would have been saved from free rent, went to partying and unnecessary discretionary spending instead. Net savings= barely anything. He now tells people he continues to live at home under the pretense of saving.

    • p1 ama on 16/01/2022 - 23:41
      +5

      its hard enough for them to get ahead in life

      What do you define as "getting ahead"?

      • Kangal on 18/01/2022 - 14:03
        +1

        When you're in the driver's seat of the Corolla and it's bobbing…

    • Caped Baldy on 17/01/2022 - 07:23
      +10

      I've heard of people charging kids rent then giving it to them as a deposit when they're ready.

      • Quantumcat on 17/01/2022 - 08:47
        +24

        That's ridiculous, then any tenant could claim ownership of the house they're living in

        • Chandler on 17/01/2022 - 13:08
          +1

          True. But tenants are entering a tenancy agreement, parents are in a position to coerce. Also snooksy's example sounds like the rent was directly attributed to mortgage payments, rather than "rent" or bills or utilities; in terms of the result of that one, it's a question of what is right vs what is legal.

          • Hairy Nosed Wombat on 20/01/2022 - 19:08

            @Chandler: That's a new level of bullshit right there.

            Are you a barrister or queens council in your dreams?

            • Chandler on 21/01/2022 - 11:29

              @Hairy Nosed Wombat: Why? Are you worried I'll cause you nightmares?

              I was merely pointing out that it would be difficult for a tenant to make the same argument, since they have entered into a contract. A child typically has not.

              Was there anything factually incorrect with my statement?

              • Do tenancy agreements not preclude those tenants from trying to sue for ownership of the house due to their "paying" of the mortgage? (well, I mean nothing will stop them from trying if they can get a lawyer to go through with it)
              • Are parents not in a position to coerce?
              • Was my understanding of snooksy's example incorrect?
      • [Deactivated] on 18/01/2022 - 22:16
        +1

        Please
        ..Don't become a lawyer
        ..Don't become a landlord
        ..Don't have kids

      • skillet on 19/01/2022 - 13:34

        That's your problem for not discipline your kids in the first place and not building a good relationship with your kids. I wouldn't do this to my parents because they taught me not to bite the hand that feeds me.

    • 2esc on 17/01/2022 - 09:43
      +2

      Depends on your income, your mortgage if you have one, their income, if they do their fair share around the place, are they genuinely saving or just blowing it on Cafe lattes or flash clothing expensive frequent holidays etc.

      Your child should also have the conscience to want to contribute to help their parents.

      If as a parent you don't really need the money board / rent can help teach responsibility you can also put some or all of it away as savings for them (don't tell them) I've got little kids I'm putting away money for when they become adults but not telling them as I dont want them to expect a windfall.

      It's like how some people expect a inheritance and are waiting for it you can't plan your life that way.

    • diddy50 on 17/01/2022 - 14:22
      +2

      I'd pay a portion of the bills and buy the groceries.

      Rent, no.
      Board, hmmm nah.

      But contribute to the household. Hell yes

      • Kangal on 18/01/2022 - 14:09
        +2

        I'd say it's quite fair to get something like $100 a week from them. It's very expensive for them, and forces them to be more responsible. And it helps massively for the parents that are struggling.

        And it would be a neat idea, if you don't need it, to just throw it into an investment portfolio. And if we assume from 18-22, that's at least 4 years of growth. It works out to roughly $25,000. And they can use that to help building a Savings for buying a property later on. Otherwise, it's a good safety net… or even splurge on great travel experiences, furniture, electronics, goods and services.

    • HeWhoKnows on 17/01/2022 - 14:38

      Rent = $0

      But how much to charge for Boarding????

      Suggest OP add up the costs if they want to charge

    • MrFunSocks on 18/01/2022 - 10:14
      +2

      Even when they're a 25 year old university graduate with a full time job? Really? Putting all that financial burden on the parents who are reaching retirement age?

      Geez.

      • TrustNoBody on 18/01/2022 - 10:39

        my brother was earning about $150k n still living with my mum paying only $60 pw and it included EVERYTHING but when i lived there years before i was only on study allowance and my mum took more then half my pay and i was rarely home n we didn’t have internet ect back then

      • creamandpaper on 19/01/2022 - 15:26

        depends on the parents doesn't it? If they are yet to retire, they've hopefully got a house they've paid off, got investments and 30 years of super. Not all parents are worried about retirement funds

    • chris666 on 18/01/2022 - 21:05

      This exact answer my parents never charged me rent but I had a 3 year goal to get a deposit for a house

  • orangetrain on 16/01/2022 - 18:58
    +2

    The system is stacked against the poor. If i dont care about grandkids, yeah sure. Let them sink or swim.

    Edit:0. Hot bullet pointed

    • node modules on 17/01/2022 - 16:19
      +4

      I'm not sure why you were downvoted but I agree with you. I can attest to this from my anecdotal evidence - comparing myself with my sheltered peers, ceteris paribus: significant difference in savings means a likely significant difference in opportunities.

      If I had kids, I wouldn't want them to go through what I am going through.

    • drfuzzy on 18/01/2022 - 14:46
      +1

      I disagree. I would say the system is stacked against the middle class.
      There is enough social welfare in Australia to give a poor kid a good chance of growing up to get an education and become middle class.
      It is very hard for a middle class kid to become upper middle class or rich - they will be nickle and dimed by outrageous taxes every step of the way.

      • orangetrain on 18/01/2022 - 15:03
        +2

        Poor kid? The government is considering forcing those who are unemployment to work at supermarket to stack shelves and be exposed to covid. Maybe paid at unemployment rate which is far below minimum wage. They could always refuse the job. But wait, it means the government will suspend unemployment pay as they did not accept the job.

        But yes, evil taxes are the problem /s

        • drfuzzy on 18/01/2022 - 15:09
          +2

          What exactly is wrong with stacking shelves at a supermarket?
          I did that as a kid and would happily do it again.
          How many people in this world would jump at the chance to earn Australian minimum wage and work in Coles or Woolworths? 2 billion? Or 3 billion?
          You seem to be saying that the unemployed should be allowed to sit home (to avoid Covid) whilst the rest of Australia needs to go out into the workforce to pay the taxes to support them.

  • victinini on 16/01/2022 - 18:58
    +27

    I would only ask them to pay if I was struggling to pay the mortgage. As long as they were trying their best to move forward in their life and career. Maybe help out with the groceries and the bills a little but nothing to the point of a landlord/renter relationship.

    • SnakeCasablanca on 17/01/2022 - 10:35
      +3

      Asking them to pay rent teaches them how the world works.

      As long as they were trying their best to move forward in their life and career.

      So you would first let them live with you for free, and then 12 months from now when you saw that they were spending all their money on going out and pokemon go, you would say "Time to pay rent lazy bones". Good luck. By that stage I think you'd have already created a monster.

      Having your child pay rent (even cheap rent) is teaching them. If you can afford it save the money and give it to them when they move out. But don't tell them that is the plan.

      • victinini on 17/01/2022 - 11:21
        +4

        I prefer being open and honest.

        "What are you doing now? Where do you want to be? Is there anything I can do to support you?"

  • pantsparty on 16/01/2022 - 19:05
    +18

    How old are they? If they are fresh out of high school or early 20s than I would expect $0. If they are 45 then it’s a different story.

    • NormalGoat on 16/01/2022 - 19:07

      They’re 25 and have found their first job after graduating from university. But you make a good point - there are many factors that would influence whether or not rent is paid

      • Jolakot on 16/01/2022 - 19:43
        +13

        Really depends on where you are, but honestly I've never met a parent that charged their kids "rent", just the expectation that they'd contribute a fair share of household expenses

        Offer to contribute 1/3 of food, electricity, water, internet etc costs, just average it out into an easy fixed amount and pay them that each month

        Basically they should be no worse off financially for having you living with them

        • voo123 on 16/01/2022 - 23:40
          +22

          LOL, I paid $100/week in rent+living expenses back in 2009. Decade later, I found out parents reinvested this money into investment properties and shares for me. They were afraid that I would blow my money on useless crap.

          • Poor Ass on 17/01/2022 - 08:01

            @voo123: How did they invest in investments for you without you knowing? Trust?

            • voo123 on 17/01/2022 - 17:42
              +3

              @Poor Ass: After I bought my first home, parents revealed that they used my rental contribution towards a deposit for an investment property. My rental payments probably amounted to around 5% and they contributed the remaining 15% for the deposit. In the end, they bought 3 investment properties with this method, 1 allocated for each of their children, according to their will.

              Realistically, I wont get to inherit all this until my 60s, at a time I won't be needing any money, so it will probably be passed onto the grandkids anyway.

              • Poor Ass on 17/01/2022 - 17:59

                @voo123: I don't like how you keep saying inherit again and again and again and again

              • TrustNoBody on 18/01/2022 - 10:45
                +2

                @voo123: your parents must of had a bit of money in the first place to be able to afford investment properties for each child ..my parents were in government housing

          • Jolakot on 17/01/2022 - 12:12
            +1

            @voo123: That's fair enough, and I'd consider doing something similar if I had an adult kid living at home to help them save a deposit

            More so I've never met a parent who charged their kids rent and then used that as spending money, just mandatory savings contributions and a fair share of costs, which might include rent if the parents live in a rental

          • sauce2k on 17/01/2022 - 13:56
            +3

            @voo123: You have great parents! Make sure you love them heaps!

          • kiitos on 17/01/2022 - 14:30

            @voo123: $63k into multiple properties and shares?

            • voo123 on 17/01/2022 - 17:44
              +1

              @kiitos: They used our small rental contribution towards investment properties. Any shortfall in deposit was contributed by them. It was their way to trying to maintain generational wealth and showing delayed gratification.

          • w37hsyea on 17/01/2022 - 17:13
            -1

            @voo123: They invest $5200 a year into investment properties for you?

            Wow.. you must be rich with those $5200 houses.

    • afoveht on 16/01/2022 - 21:36
      +15

      The plague of bamboccione shouldn't be encouraged.

      With what we've done to property prices it's not entirely their fault.

      • Benoffie on 16/01/2022 - 21:41
        -6

        We could have made the same arguments after the housing booms in the 80s and 90s after deregulation or the early 00s boom.

        This 'kid' is a grown arse adult with a degree presumably earning at least 60-70k pa.

        If they weren't engaging in an aggressive plan to be out or at least have an investment portfolio by 30, then I'm sorry, they need a kick in the pants.

        • afoveht on 16/01/2022 - 22:13
          +10

          I refuse to have my children living it up on my dime

          If you think kids living with their parents is their idea of living it up then maybe we have different ideas on what kids want. I know in my own case I wanted to get out as soon as possible.

          Also, not all people are making 60k+ in their 20s.

          • Benoffie on 16/01/2022 - 22:28
            +3

            @afoveht: The OP gave a specific set of circumstances. There's no need to superimpose other variables.

            • afoveht on 16/01/2022 - 22:36
              +5

              @Benoffie: Fair enough, but you've superimposed "living it up" yourself. At first glance the OP seems quite responsible financially.

              Staying with the parents for a time could also be a cultural thing - I know my own wog parents dreamed I stay with them as long as possible so I could save, they could help with kids, etc. I can't think of a bigger PITA than living with parents but I have friends who had parents with similar expectations and they were "good children" who obliged.

    • VictoriousBboy on 17/01/2022 - 18:19
      +5

      This comment is so gross and entitled. Many people remain living with their parents into their 20s for a plethora of reasons - particularly now with covid related job and income losses. Some people are priced out of the market near their work places, some people need family support for mental or physical health issues, some parents genuinely like their children and want to spend time with them. The fact you assume graduates are all on $60-70k in their first year is also a joke. I am so incredibly glad I don’t have you as a parent, pulling some bs “I refuse to have my children living it up on my dime” garbage. I don’t know about other parents, but mine love me and would like to see me succeed, not fail so they can secure more ozb deals they don’t need, whilst relishing in my poverty. You chose to have a kid, they didn’t choose to be born.

      • Benoffie on 17/01/2022 - 18:23
        +1

        Lol and by that logic, parents are expected to fund their kids until they die.

        Parents who do not impose some level of fiscal responsibility on their children at appropriate levels at all stages of their lives do them a gross disservice.

        You don't have to like it or other people's parenting styles. But then you can't complain when some people are buying their 2nd investment home at 25….

        The fact the OP has admitted a reluctance to pay and is asking strangers on a forum tells us they have the capacity to pay but don't want to. If they did, they'd have simply followed the example of their elder sibling.

        They haven't stated they're on minimum wage. In fact they had enough money to live from home interstate but now think they can freeload off their semi retired parents.

        Let's just call a spade a spade. Parents are not there for adult children to bludge off of. Your Mum at 60 ain't your personal chef or maid.

        People need to grow up!

        • SlavOz on 18/01/2022 - 00:24
          -1

          It's hard to talk about fiscal responsibility in the same example as a 25 year old buying a 2nd investment property. Sorry, but unless you're Donald Trump's kid, you're gonna be buried neck-deep in high-risk debt before you've even reached your maximum earning capacity. It's just silly.

        • Yola on 18/01/2022 - 09:35
          +1

          The OP has said 2 days ago

          I’d like to contribute also even if my parents do not ask for anything.

          He is merely trying to determine how much.

      • Quantumcat on 17/01/2022 - 21:07

        There's a difference between someone with mental health issues, or disabled, or unemployed being supported by their parents, and a perfectly healthy young person with a job bludging off retired people who would like to have a few years of relaxation and enjoyment after working for 40 years and bringing up children. The former is normal care and support given by parents, the latter is just rude.

  • Paul Atreides on 16/01/2022 - 19:17
    +7

    guess depending on how much they earn in their full time job. I'd say start off around the $300/mth mark

    • Lastchancetosee on 17/01/2022 - 10:56
      +1

      Yes, same here. Mine are good savers and are in the process of building at the moment, so happy to support this. One was already at home and the other moved back when his flat lease ran out six months ago.

      They don't pay rent but contribute $250 month each to bills, food, and cleaning. They also help out with washing, bins, gardening, shopping cooking. Works very well for us, and I'm so pleased they are focused on getting their own place.

      Would also make the point that they have had no direct financial assistance to get their 25% deposit together - just hard graft and careful spending. No bank of mum and dad, but the opportunity to live at home for some of the time.

  • AndyC1 on 16/01/2022 - 19:25
    +4

    Google for how much a room in a share house is and that will be the amount. I have no idea what it is.

    • Mahalo on 18/01/2022 - 15:03
      +1

      That’s could possibly push them to move out. Depending where you live that is.

      • AndyC1 on 18/01/2022 - 16:15
        -1

        Hopefully it will teach them what the real world is.

        • Mahalo on 18/01/2022 - 18:11

          It all depends on the mindset they approach the real world with. If they think positively they will attract positive things into their lives.

  • miruku on 16/01/2022 - 19:30
    +14

    I decided to pay $500 a month (of my own accord) when I got my first full time job while living with my parents. This was about 5 years ago, similar age and circumstances.

  • mskeggs on 16/01/2022 - 19:33
    +23

    $100 a week if they fully contribute to chores.
    $200 if they expect a cleaner and a cook (and use the money to pay for it).

    Consider banking it separately and offering it as a gift toward the deposit when they end up buying a house

    • dmbminaret on 16/01/2022 - 20:20
      +11

      Consider banking it separately and offering it as a gift toward the deposit when they end up buying a house

      This is the best idea. My parents collected austudy as board when we were in high school but saved it towards the purchase of our first car.

      • NormalGoat on 16/01/2022 - 20:21

        Love that

      • voo123 on 16/01/2022 - 23:44
        +3

        My parents banked my rent and put it towards investment properties and shares for me. However, I would only inherit all this when they passed away lol! First car/first wedding/first house, I did it all on my own. I wished I could have cashed out all this money for my first home, instead of waiting to inherit all this when im in my 60s, and having already got everything I need by that time.

        Dumb logic :/

        • Poor Ass on 17/01/2022 - 08:04

          How did they invest in investments for you without you knowing? Trust?

          • unwashed00 on 17/01/2022 - 14:30

            @Poor Ass: They could've simply invested in their names. Just knowing it's kid's share

            • mdavant on 17/01/2022 - 16:28

              @unwashed00: Yeah that is what they did. It allowed them to pretend they were giving the poster money even though they would inherit it.

              A bit sad really

            • voo123 on 17/01/2022 - 17:45

              @unwashed00: correct

        • serpserpserp on 17/01/2022 - 18:45
          +1

          instead of waiting to inherit all this when im in my 60s

          I know a few people in your situation (no inheritance for me unfortunately). Their parent(s) have all this cash stored up but won't give it to their children until they die (children will be in their 60s minimum probably). They won't pass it on because effectively I think they'll lose that little bit of control they have over their kids (ie. Be nice to me or you might not get your share! Etc.) They don't realize that doing what they did actually builds resentment.

          • jatyap on 18/01/2022 - 14:28
            +1

            @serpserpserp: I've never thought of it that way. Why would I resent not being given something that belongs to another person?

            From my point of view, whatever my parents earned belongs to them. It's my responsibility to earn enough for what I want and need. I worked hard to make my own way, and as of now, while inheriting enough for a home deposit from my dad's passing, I am also contributing to helping my mum out with some miscellaneous expenses (she has money, but as a kid, it is a pleasure to be able to help your parents as well). She offered to contribute to my house deposit, but I'd much rather she spend that money travelling (fat chance of that these days) and enjoying it while she's still around. She earned it, I didn't.

            I don't have kids yet, but I am not thinking about giving them the expectation that I'm going to provide their [home deposits/car/other needs] when they become adults.

            • serpserpserp on 18/01/2022 - 14:51

              @jatyap:

              From my point of view

              Yeah everyone has a different point of view. Your situation is not the ones of the friends I am talking about. But how about this is this has happened to another fellow I know (and before I launch into it, sorry to hear of your dad's passing): What if your dad had left you and your mum separate inheritances' , however when you were both deep in that initial grief your mum made you give her control of your inheritance? Then turns around and says she is worried about her finances as she ages and won't give it back? It is just another example of parents using money as control. The child in this case usually will say they don't mind because it is their mum, they want to help her etc. But behind close doors i've heard they are upset with what has unfolded as it was 200-300k ish and they have a family of their own and have been forever renting.

              I'm not sating that parents should be giving the expectation that they provide for their adult children. But they also should hold money over their children as a means to have them included in their lives more. The hardest thing is that some parents don't realise they are doing this. Besides wouldn't it be better to give your children money when they are 30-40 and you can have some goodwill from that money as opposed to giving it to them on your death bed (or after you have died) with your children in their 60s or whatever and them resenting you or it not making much of a difference to them at that point? Remember I am not talking about parents who are actually in need of this money, they'll have a good life without it.

              • jatyap on 18/01/2022 - 15:21

                @serpserpserp: It probably depends on the type of people the parents are, I agree. But I am of the view that if they earned it, they have every right to spend their money as they see fit (if they wanted to buy a Lambo with the rest of their money instead of giving it to their kids, hey it's their money).

                The situation you gave as an example seems to be a bit more of the combination of a manipulative parent (who did not earn the money herself anyway, so this wouldn't apply), rather than a parent who earned/has the money, and refuses to give it away before they pass.
                Legally, wills take precedence, then an intestate distribution of the estate occurs. I see no point in the family agreeing to hand over all control to the parent if they are financially well off, or if the kids are in such dire straits financially, they can't afford to hand it over to the parent anyway.

                However, this is a different issue from insisting that a parent hand over your inheritance before they pass away. It's their money, it's their right. I know people are financially motivated these days but I just find it silly when adult kids get mad at parents for (surprise) spending/keeping money they earned instead of distributing it early.

              • jatyap on 18/01/2022 - 15:31
                +1

                @serpserpserp: Here's Shaquille O'Neal's take on that:
                Appearing on the Earn Your Leisure podcast, Shaq said: "My kids are older now. They kinda upset with me - not really upset - but they don't understand.

                "Because I tell them all the time. We ain't rich. I'm rich.

                "You've got to have Bachelor's or Master's [degrees] and then if you want me to invest in one of your companies, you're going to have to present it… bring it to me, I'll let you know. I'm not giving you nothing."

                And I agree… If my dad earns the money, he has the right to spend it or give it away as he sees fit. If I want something from him, I ask for it and earn it the proper way.

                • serpserpserp on 18/01/2022 - 15:50
                  +1

                  @jatyap: Yeah I am not disputing your thought. I think we are on different wave lengths. I'm talking about parents holding money over their kids effectively. Money they will give to then eventually but have decided to hold out and not for "make them strive for their own money" causes.

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