You are here: Home - Credit Cards & Loans - News -

Off to university? Wave goodbye to your bedroom at home

Written by: Emma Lunn
Students’ bedrooms are set to be repurposed into guest bedrooms, gyms and studies, according to AA Financial Services.

A-level results are due out tomorrow but students don’t just have to worry about their grades – but what their parents will do with their bedroom when they leave for university.

AA Financial Services asked 2,091 British adults to imagine if they had a child who was planning to leave home later this summer to start university, what plans, if any, they had to convert the space into something new.

Two-thirds (66 per cent) of parents said they would be “repurposing” their child’s bedroom as soon as they leave home. AA Financial Services found that nearly a third (29 per cent) planned to turn the empty room into a guest bedroom, while 17 per cent would turn it into a study, and 13 per cent a hobby or games room.

Families with three or more children were the most likely to rent out a room in order to pocket some extra cash, with one in 10 (11 per cent) considering this.

A third (34 per cent) of parents would leave the room untouched for when their kids came home from university.

Savings and disposable cash were two biggest ways parents would finance the improvements (48 per cent and 42 per cent). One in 10 (11 per cent) parents would put the cost on a credit card, while 5 per cent would take out a personal loan.

Warren D’Souza, head of insight at AA Personal Finance, said: “Many families will soon be waving goodbye to their kids as they go off to university later this summer. Whilst this is a difficult transition for many, our findings suggest that many people have alternative, and potentially exciting, ideas on how they will repurpose the empty rooms left behind. For many parents, the sad departure of their child is a signal for the start of a new DIY undertaking or similar project to focus on.”


There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…

Read previous post:
Is your energy bill about to soar? 67 fixed tariffs end this month

It’s worth checking when your energy deal expires because 67 fixed tariffs come to an end on 31 August.