• April

    26

    2018
  • 171
  • 0
Why more children are still living with their parents

Why more children are still living with their parents

In recent times, more and more pressure has been put on households to accommodate their families. We find ourselves needing more space but with increasingly limited resources. A solution to the problem, though, may be something you already have right under your roof. One that you may not have recognised for its potential – your loft space.

The number of young people living at home has reached an all-time high. Over 3 million. One in four people aged between 20 and 34 are still living at home with their parents as a consequence of several factors. Younger people have less disposable income than the previous generation, especially those who have accumulated a large debt on their student loan. Graduates find themselves having no real option but to return to the family home.

For many that means a place to save for a deposit to put down on a property of their own, saving money that would otherwise be squandered on high rents. The average age of the first time buyer is now 37, so the space needed at the family home is often over a significant period of time.
Young people are not only training for longer, but formalising relationships and therefore often having children later on in life than their parents’ generation. It’s actually not unusual for children to stay at home into their 40s.

So what can be done? It’s often out of the question to move out into a bigger property to accommodate children returning to the nest. There are significant costs associated with moving too, such as stamp duty, legal fees and estate agents’ charges. And sometimes families simply don’t want to move. They love the area they are in. They have long-established friends there. They’ve invested time and money in creating the home they wanted.

And it’s not only children that need housing. There’s also a very significant and growing number of older parents (roughly a million) moving back in with their children. With average life expectancies continuing to increase, this is a trend likely to continue.

Increasingly, couples in their late 40s and 50s are already anticipating the need to house one or more parents and professional children.
So, the loft. A loft conversion can create space for an extra bedroom and bathroom, creating space for a degree of independent living or isolation from the rest of the family.
If you’re local and you’re looking for builders who do Swindon loft conversions, look no further. Our team of expert craftsmen have been creating wonderful loft extensions in Swindon for over two decades.

Why more children are still living with their parents

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