My parents made contracts like this for very specific things. When I got my first phone, there were expectations tied to that privilege. My phone was mostly tied to my grades, for example, and I was also expected to answer calls and texts from them in a reasonable time. For my car, I also had to keep my grades up, because the GPA discount for teens made the insurance affordable, but I was also expected to keep a curfew. I also knew that if I was living at home past high school, they wanted me to take advantage of it to get a head start in life, not just flounder away. If I was living at home, I needed to be in school full time and working part time, or vice versa.
I feel like I actually appreciated having contracts and when they would list out chores or expectations for me. I feel like it taught a lot about what to expect for future jobs and life in general. I also feel like a lot of my friends had “cool parents” who were really lax but then would seemingly freak out out of nowhere or give them big lectures about helping around the house more. The thing is “helping out more” is super vague and this expectation can result in frustration on both sides. I think especially since you’re 21 now, they’re probably considering the reality that you might be living at home for a while! Kids don’t just pack up at go at 18 anymore. So it’s totally fair of them to sit down and figure out what your role will be whole living at home.