Millennials living longer with parents after college

Whether they are looking to save money, or they aren't ready to take on adult life just yet, a Pew study out this summer says millennials are moving back home after college in record numbers.

After five years in the fast-paced New York magazine industry, 29-year-old Ramona Emerson made a momentous decision - she was heading across the country to move in with her parents.

They were so excited when I said I was going to move home," she recalled.

"We thought it sounded like a great idea," said Ramona's parents, Sharon and Charlie.

It's only temporary, she's taking pre-med classes before she heads off to nursing school in the fall. At first, it was idyllic. But a few months in, she realized it's a very small house.

"I'm an only child, so they are a little bit obsessed with me," she said.

Experts suggest parents that are going to have an adult child live with them should determine some guidelines.

Clarify from the start and let them know what you are okay with, what you're not okay with. For example, is there a curfew? What about using the family car?

But getting on each other's nerves is par for the course.

"She has issues with practical things," said Charlie.

"When you've been independent and then to come back and have people watching your every move and I imagine silently judging me, that's probably been the biggest challenge," said Ramona.

So to make it all work, experts say to clarify expectations like chipping in on expenses and cleanliness. They also recomment setting clear household contributions like doing the dishes or cooking.

And don't forget to act your age.

"You feel so much better if you try as much as you can to act like an adult and your parents will be very happy about that as well," said Ramona.

And do some soul searching ahead of time.

"If you don't think you like your kid at the stage they're in now - don't do it," said Sharon.

"It's actually been a really, really positive experience and so fun to get to know my parents as an adult. But I'd do it again. Well maybe not again, but I'm glad that I did it," said Ramona with a laugh.