Boomerang generation cost £3,600 a year
Grown-up children who don't fly the nest set their parents back a staggering £3,600-a-year, according to a new report.
The 'Hotel Mum' generation takes liberties by using expensive utilities, eating them out of house and home and borrowing money they have no intention of paying back.
And with the average child not leaving home until the age of around 26, parents are staring at the possibility of at least a £10,000 dent in their bank balance.
The staggering figures emerged from a study carried out among 477 parents of grown-up children aged 23 to 40, who are still living at home.
Mark Robinson, Chief Executive of Market Harborough Building Society, which conducted the research to launch its new Family Mortgage Collection, which helps families help their children to set up their own home, said: "The majority of parents would never consider their own children to be a burden, but this report certainly highlights the negative financial implications of having an adult child living at home.
"But given the difficulty young adults now face with housing, job availability and education, it really isn't surprising that more and more are returning to the family home for security and support.
"Figures show the average age of a first time buyer is now 36, as youngsters struggle to find the funds to put a foot on the housing ladder.
"So there are numerous factors which lead young adults to conclude that staying at home with mum and dad is the best option until they can afford to support themselves."
The study revealed the full extent of the financial burden placed on parents when their children live at home well into their twenties.
It shows 'boomerang children' - kids who don't permanently leave home – cost their parents an extra £300 a month in food, utility bills, nights out and 'treats'.
Parents in this position will pay on average £29.90 on food shopping each week, as well as £12.78 on extra treats such as snacks and drinks they know their children like.
They estimate they fork out an additional £20.97 each month on utility bills, while they can expect phone bills to go up by £6.53.
Socialising costs parents an arm and a leg, as they donate £21.52 a month towards nights out, and spend around £16.48 on getting in supplies when their children's friends come round.
Other costs include £25.11 towards a meal out with the family, pocket money to the tune of £5.56 and the odd tenner towards a shopping trip.
Parents even feel they should pay for their adult children's costs if the family takes a weekend away together, forking out on average £110.36 a year.
And 42 per cent of 'boomerang kids' remain under their parent's roof completely rent-free.
Unsurprisingly, a third of all parents with children living at home haven't a scrap of savings left for their own future.
Mark Robinson continued: "The harsh reality is that many parents are forsaking their own financial security by looking after their adult children.
"And yet few parents would refuse their children a roof over their heads if they were struggling to cope alone.
"Parents now face a whole new set of issues - how to prepare for their own future, while providing security for their children's present."
The report shows mum and dad also help out with the day to day general care of their children - with 77 per cent doing all their washing and 29 per cent helping tidy their room.
Seven in 10 mums think nothing of cooking an evening meal for their adult children each evening, and 62 per cent go on to wash the dishes for them after.
A quarter of dads get used to ferrying them about everywhere in the car, just as when they were children, and 21 per cent pick them up late from town in the evenings.
Having their clothes ironed, having someone to confide in about relationships and advice about money are also other benefits of living at home with the parents.
Breakdown of supporting kids - over one year
Food shopping - £1,554.80
Treats / snacks - £664.56
Phone bills - £78.36
Utility bills - £251.64
Nights out - £258.24
Nights in with friends - £197.76
Shopping trips - £127.44
Eating out - £301.32
Pocket money - £66.72
Weekends away - £110.36
Total = £3,611.20