Homeowners who thought their children had flown the nest might be thinking about how they have to renovate their property now that their adult kids seem to be returning, and bringing their partners with them.
Due to an extremely difficult property market, those in their 20s and 30s who have not been able to buy a house have resorted to moving back in with their parents so they can save money for their own place.
According to Churchill Insurance, a significant number of young adults are not returning home by themselves either, with as many as 2.5 million ‘children’ bringing their boyfriend or girlfriend to move in too, reported Huffington Post.
A quarter of couples do this with the intention of saving cash for a deposit on a house, as only 30 per cent of parents charge their children rent. Those who do typically ask for just £115.60 per month, which is 88 per cent cheaper than the average monthly rent of £928.
Partners get an even better deal, with only 18 per cent being charged for their new accommodation, and typical rents coming in at just £109.90 per month.
Churchill Home Insurance’s spokesperson noted that moving back home “is often the only choice for young adults who are trying to save up for a house deposit of their own”.
They went on to say returning home as a couple enables them to save more money and still be able to live together.
Surprisingly, many parents do not mind sharing their house with more people, with 28 per cent of mothers and fathers saying they are happy to have their children return so they can spend more time with them. Just over a quarter (26 per cent) admitted it made them feel good that they can help their kids save for their own home.
However, 34 per cent of parents have had negative experiences, with 14 per cent saying they fell out because their new lodgers did not help out enough with housework and 11 per cent felt their property was beginning to be treated like a hotel.
Of course, those who do welcome their offspring back home might want to think about making their house as comfortable as possible for everyone who lives in it.
This could mean making some renovations so everyone has their own living space to enable couples and parents to enjoy the privacy they need. For instance, homeowners might want to transform their dining room into a separate lounge for their child and their partner; fit an en suite on to their bedroom so they have their own bathroom; or designate an area of the kitchen to their tenants to avoid any arguments when preparing food.
While work on the house is being done, this could be the ideal time to look at the state of the windows, especially if it has been some time since they were last installed. It is important new ones are fitted every 20 years or so in order for them to stay effective and keep the house warm inside.
Even though you might be offering accommodation at a cut-price rate, it is still important all your residents are safe and comfortable while living with you.
Look at our timber windows in Oxfordshire today before you begin renovation plans to welcome your kids back home.