The family home can be a much treasured and beloved space for all family members. And with property prices continuing to rise in the UK, young adults are increasingly finding it difficult to fly the nest.
According to data from 2019, the average age to move out is over 24 years old. With the impact of the pandemic still unfolding, this figure will almost certainly rise over the coming years. However, for most parents the day will undoubtedly come when all the kids have moved out, leaving them with more space than they know what to do with.
If you’re in this situation, you’re probably wondering what changes to make to your property now that you’ve got it all to yourself. Take a look at these suggestions to get you started.
Get round to those home improvements
Once the kids have moved out, you may have time and money to finally get round to those bigger home improvements that you’ve been planning for years. Finances can be stretched when you’re supporting a family and running a busy household, but this may be the time you can finally invest in your property.
A kitchen renovation, garden makeover or loft conversion are popular choices when it comes to major renovations, but you can of course go for whatever suits your specific needs. For those aged 55 and over, exploring equity release mortgage options could free up some cash to tackle the projects that you’ve always dreamed of.
A busy family home can easily become cluttered and filled to the brim with ‘stuff’. With the kids gone, you may want to simplify your living arrangements so you can make room for other belongings.
Of course, there will be cherished family memorabilia that you’ll want to store, but there will probably also be a heap of unused or unwanted items that you can donate or sell. Decluttering could help you to find space that you forgot even existed.
Make space for yourself
Children moving out usually results in spare bedrooms. With this vacated space you can easily create some functional rooms for yourself – whether that’s a home office, gym, hobby or cinema room. Perhaps you’ve wanted to start painting but you never had the space to do it in, or you’ve been working at the kitchen table for a while. Repurposing a bedroom can improve your quality of life and provide you with a space that is more tailored to your personal requirements.
Consider moving home
A larger home may start to feel empty once the kids have moved on. Now’s a good time to evaluate your current needs, and potentially consider downsizing.
Downsizing is a popular process that older people can use to reduce their cost of living or move into a more manageable space in later life. Downsizing can also free up some cash if you want to travel or use some of your home’s equity to help out family members.
Hopefully these tips have given you a starting point for things you can do with your home when the kids move out. If you’ve made changes to your home as a result of children moving out do share your suggestions in the comments.