Don’t be a millennial who lives at home
There are many benefits to living at home: you don’t have to cook, worry about London rent prices or do your own laundry. Even if you do contribute to bills and food, your living costs are dramatically reduced, which means you can save a good chunk of your salary each month. Not to mention that your mum can no longer complain about why you don’t call her more often; you’re in the kitchen having breakfast with her every morning!
According to the Office of National Statistics (ONS), 26% of young people aged between 20 – 34 lived at home in 2017, compared to just 19% in 1998. With more and more millennials moving back home, why is there such an increase?
Cost of living in London
Since 2007, the cost of the average first home in the UK has risen from £146,000 to £211,000, according to research from Aviva in 2017. Combined with the average rent in London estimated at around £1,300 for a one-bedroom flat (Movebubble June 2018), it’s no wonder more and more young professionals are opting to stay within the comfort of the family home. These prices are scary enough for anyone, but especially those who want to work on a freelance basis.
Living at home can be great; outside of the obvious saving element, it can be nice to spend more time with your family. However, living at home is not an ideal situation for every millennial. For every pro, there is a con to not fleeing the nest.
Lack of freedom
When living at home, it’s difficult to have the same kind of freedom you would have living alone or with friends. Even the most laid back and relaxed kind of parents won’t be happy with your mates (or dates) traipsing in and out of the house at all hours. Not to mention that more high maintenance parents will want to know how late you’re staying out at the weekends, or offer out unwanted advice regarding your life choices.
Living back in your hometown can be nice. You’re familiar with every street corner, so you can guarantee never getting lost. The bar staff at your local pub know your order by heart. The neighbours always ask how you are, as they’ve known you since you were five. But this isn’t always good: nothing feels new anymore, the pub is full of old geezers playing the fruit machines every night, and the neighbours have vivid memories of all the illicit house parties you had in your teens while your parents were away. Not ideal for living your best, cosmopolitan life.
It’s easy to get complacent when living at home and take for granted everything your parents do for you. With all the housework done and meals taken care of, the prospect of moving away from your creature comforts becomes less and less tempting, and you risk becoming less independent. How are you supposed to grow as a person when everything is handed to you?
Flexibility with LHA
LHA London gives you the freedom to live your best London life. With 13 hostels across London, you get to be right in the heart of the city for just a fraction of the price. Our cheap hostels in central London offer you a relaxed and safe living environment where you can meet many like-minded individuals. Whether you go catered or self-catered, choose a single or shared room, there’s always a place you can call home.
Gone are the days of you being another millennial staying at home: come and live with us here at LHA and begin your independent London life today!