FTBs use parents for DIY jobs

Many first-time buyers (FTBs) are choosing to live close to their parents so that they can help them with their DIY.

According to figures from insurance firm Zurich, 15 per cent of FTBs opt to live within a mile of their parents.

Of these, 47 per cent said that they regularly take advantage of having their mum and dad nearby by getting them to help out with DIY jobs around the house.

A further 16 per cent used their parents as pet-sitters, while 25 per cent like to pop round for a good home-cooked meal.

"Buying your own home is one of the biggest changes people encounter," said Martin Hall from Zurich.

"Our research shows that people are making the move on to the property ladder, but aren't quite ready to fully cut the apron strings.

"Adult children are choosing to stay close to the family home not only because they enjoy spending time with their parents, but also because they genuinely value the practical support and advice that they offer," he added.

The research also found that 31 per cent get peace of mind from knowing that their parents live close to them.


© Adfero Ltd