Comfort still lies in parents’ house

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Leaving the nest is a giant step, which not many dare to take. Even Lady Gaga is in no mood to fly the coop. She doesn’t want to buy herself a mansion and prefers to stay at her parents’ pad and her best friend’s digs. “I’m not ready to buy a house. It feels like marriage or something. It’s like such a commitment. I don’t like it,” she said.

Unlike in the West where people are on their own as soon as they start earning, in India the majority of youngsters are permanent residents at their parents’ place. While for most it’s because of financial security as buying a house is no less than a commitment, for many it’s because they fear undertaking responsibilities. Yet there are others who won’t risk being alone for the want of freedom.
To a larger extent it gives financial and social security to people here, says trainer Sharat Goel. “In the West, teens are accustomed to a lifestyle where they move out as soon as they reach high school and start earning. I too moved out since I wanted some independence. However, I never thought of buying a house, not for any other reason but because I thought I was too young for responsibilities. Though I was earning enough and my monthly rental would have been the same as the EMI, I still thought it was an added responsibility,” says Sharat.
Twenty seven-year-old Vikas Uniyal, who found writing his life’s only purpose, says that his parents never imagined him moving out and always wanted him to stay with them. Also staying alone didn’t make much sense to him.
“They are providing me everything I need to feed my passion and dream, which indeed is their dream too. I had no reason to stay away. Buying a house would only be a reason to be alone since filial love can at times be a distraction as far as work is concerned. But a separate house and its responsibilities can turn out to be a greater distraction. I am not prepared to manage things on my own. Also, since I will be off to UK for studies and won’t be back for nearly 8-10 years, I want to spend every moment that I have with them.”
Not moving out also adds up to better savings. It is always convenient to stick with your parents as long as they don’t have any issues with it, says Kunal Sethi, an HR consultant with Hay Group.
“As per the prevailing trend in India, unless I am married I can’t even think of buying a house as it will burn a hole in my pocket. It is like committing to something I am not ready for. As we all know, the prices of property are shooting up and with the increasing interest rates, it will be a mission to pay the monthly installments. I would rather stick at my parents’ house and enjoy my life with them.”