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       Financial advisor says parents should be charging their adult children
       rent
        
 (HTM) Source
        
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       TradeMe property data showed it was not just Peach who did not want to
       share a flat with strangers.
        
       Although flatmates wanted ads were up by nearly 18 percent across the
       country, demand was down by about 57 percent.
        
       Meanwhile, the average rent price for a single room had gone up by
       around 2 percent.
        
       Business commentator Bernard Hickey said staying at home with mum and
       dad often gave young people the chance to save for a house.
        
       "They really need to somehow reduce their rents because not only have
       they got other living costs, including starting to repay student
       loans, but with very high rents often rising as fast as incomes,
       there's very little room to save for a deposit."
        
       But financial advisor Vinessa Orsbourne had a message for young adults
       still living at home.
        
       "They should contribute in some way because what will actually happen
       is if they don't and then they find themselves in a situation where
       they have to move out, you're doing them a disservice not getting them
       prepared for that."
        
       She said parents needed to decide when to start charging rent or board
       depending on their child's situation.
        
       "If the child has finished their education and they're actually
       employed, then yes, they need to be contributing.
        
       "Second, I think it's a discussion that you have with them up front,
       set [the] expectation that 'yes, you're welcome to stay here, but once
       you're employed, you need to start contributing financially and paying
       board'.
        
       "Parents might put that money into a separate bank account, and
       depending on what the reason is for their child to move back home,
       then they might end up giving it back to them at the end."
        
       But it was not just twenty-somethings who were choosing to live with
       their family.
        
       As the cost of living crisis bites, some retirees were even moving
       back in with their kids to save on household costs.
        
        
        
        
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