In recent years an increasing number of young Australians have chosen to co-habitate with their parents after a brief period of living on their own. They are often referred to as the “Boomerang Generation”.
30 year old Poppy lives with her father in central Sydney and says the decision to move in with him was straight forward.
“I had been living abroad and arrived back in Australia with $200 to my name. There was a huge increase in Sydney rent prices while I was away, so I decided to get myself settled and recoup some funds.”
Time Magazine recently published the article “Being 30 and Living With Your Parents Isn’t Lame — it’s Awesome”. The article revealed how the number of young US adults returning to live with their parents had soared. Like their Australian equivalents, they simply don’t have the money to move out or were intent on saving to buy a house of their own.
“Not paying rent is a huge factor for me. I get satisfaction from being able to save a decent amount each month and if this goes towards a house then great.”
In the past there has been a common perception that the idea of living at home with your parents is associated with failure or a lack of achievement. However Poppy believes this attitude may be shifting especially in the face of high property prices.
“I’m aware that I’m probably a little odd for people my age living at home, but I’m saving. I earn a reasonable salary but when my father doesn’t mind me living with him rent free I can’t help but see rent as an unnecessary expenditure”.
“I know I’m making a smart financial decision by staying here at the moment. I can tell that some people I meet judge me for living at home at 30. It bothers me occasionally, but I get over it pretty swiftly when I think of all the long term benefits.”