We all want our children to be happy, healthy, and – eventually – living an independent life that they’re proud of. Alas, sometimes that’s much easier said than done. The facts of reality mean that it’s becoming more difficult for young adults to go out and make it on their home, due to things like wage slumps, job issues, and housing that is increasingly difficult to come by. However, these are only obstacles; and like every other obstacle, they can be overcome. But if your son or daughter is going to overcome them, then they’re going to need your help. Here’s how you can do it.
It’s easy to get frustrated when it comes to grown children living in the home. But remember: showing that frustration won’t get you anywhere. In fact, it’ll have the opposite effect: it’ll just drive a wedge between you and your child, making it even more difficult to find a common solution to the problem. Instead, be supportive, and patient. Young people are facing challenges that simply didn’t exist when older generations were at the same age.
Help Them Find a Place
If you take a look at the requirements for renting an apartment, especially an apartment in a popular area, you’ll quickly see that it’s not the most straightforward thing in the world. Before they move out for good, however, it’ll likely be a good idea for them to have a taste of what it takes to live by themselves, and renting a place is the best way to get that experience. Help them take the initial step to freedom by looking at what’s available, going with them to view places, and, if necessary, putting up the cash needed for a deposit. Once they’ve found a place, loan them the furniture and any other small bits they need to help keep the costs down.
Buying a Home
Of course, there’s the argument that renting a property is considered dead money; it makes much more sense to buy a place rather than pay for someone else’s mortgage by renting. Any young adult who owns their own home can be deemed a success, but they’ll need help along the way. They can get this help from you, and from government-backed initiatives to help people buy their own house; read this page for more information about buying a home with less than 20% down. If you have savings, you could help them get the cash they need to get on the property ladder – and out of your home for good.
Many young people want to move out but are held back by one thing: a lack of money. It’s difficult to find jobs with a high paying wage, but it’s not impossible. Help prepare your child for the working world by holding mock interviews, talking to your friends about job openings, or letting them stay in your house rent-free while they complete an internship.
Take the steps above, and you’ll be on your way to having a child that can stand on their own two feet.