The Boomerang Effect - When Your College Kids Return Home

Now, more than ever, college students are moving back in with their parents after graduation in a phenomenon known as the Boomerang Effect. According to CBS News, over 6 million young adults currently live at home, largely due to a lack of jobs, student debt, and high costs of living.

While having your children return to live at home after college is a relatively new phenomenon in the United States, multigenerational households are much more prevalent in other societies throughout the world.

It can be enjoyable to spend time with your children after college; however, you should set some ground rules from the outset to make sure the arrangement goes as smoothly as possible.

Set Ground Rules Early When Your College Kid Returns Home
Shortly after your child returns home, you should sit down and discuss some ground rules. These ground rules can include things like whether you expect your child to pay rent, how long they can stay with you while they get on their feet, and “hours of operation” to make sure they don’t invite their friends “back to their place” late at night. You might even consider drafting a written contract that details your expectations from your child, so there is less confusion if problems arise later on.

Since a primary reason prompting your child to move back in with you is financial, it may be hard to expect rent money from your child right away. To help overcome this you can offer to let you child work off their rent by performing household chores and duties. This can be an excellent opportunity for you to get some much needed yard work complete, or simply have more time for yourself to relax.

Additionally, you should let them know that you expect them to look for a job and that the arrangement isn’t permanent; rather, it's an opportunity to let your child get off their feet. Requiring your child to look for a job is both good for you and your kid, as they need to work on becoming more independent.

While there is no single formula that works for every family, the best advice is to be supportive of your child — especially in the beginning. It probably isn’t an ideal arrangement for either of you, but with a little time your child will be able to find their respective place in the world and hopefully remember your generosity later on.

Finally, if you’re considering a new home once your child leaves, you should be mindful of the possibility of your child returning to live with you. Planning ahead and purchasing a home with an extra bedroom or two, depending on your needs, can help make the arrangement comfortable for both of you.

Tribute Homes has a number of floor plans available throughout its retirement communities in North Carolina that can accommodate you and your child. If you’d like to learn more about homes currently available in our communities, visit us online at www.tributehomesusa.com or contact us by phone at 800-381-2984.