You are here: Home - Retirement - Retiring now - News -

A third of empty-nesters leave their kids’ bedrooms untouched

0
Written by:
06/02/2019
Almost a third of over 55s never reclaim their kids’ rooms after they've moved out of the family home, while 62% would never downsize, research has found.

Around 75% of over 55s never redecorate their kids’ old rooms or wait at least a year, but one in 59 wait less than 24 hours, according to the latest research from SunLife.

The survey also found that of those over 55s whose children had flown the nest, 30% said they will never reclaim their children’s bedrooms, even though they have moved out.

Of those that redecorate their kid’s rooms, around 46% wait at least a year, with one in 14 waiting at least six years before doing anything new with their children’s old bedrooms.

The most common uses for a child’s old room once they have moved out is turning it into a guest room.

One in 10 use their children’s old room for grandchildren.

Simon Stanney, equity release service director at SunLife, said that it is common for parents to want their grownup children to be able to come back to the family home.

He added: “Most of our respondents have been in their homes for at least two decades, and it is understandable that they want to stay there, because there is no place like home.

“On average, people over 55 have seen their homes increase in value by around £135,000, so for people over 55 who own their own home and are looking for a cash lump sum but do not want to leave the family home, unlocking some of the value in their homes via equity release rather than by moving, could offer a solution.”

 

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.

Switching to an electric car could add £116 to your insurance

Electric vehicles are growing in popularity – but drivers who make the switch could see their insurance premiu...
Switching to an electric car could add £116 to your insurance

Monzo urges users to take part in its ‘Summer Savings Challenge’

App-only bank Monzo has urged its customers to kick start their savings by taking part in a savings challenge.
Monzo urges users to take part in its ‘Summer Savings Challenge’

Starling partners with Churchill insurance

Starling Bank has added buildings and contents cover from Churchill insurance to the Starling Marketplace.
Starling partners with Churchill insurance

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week

Read previous post:
Landlords will offer longer tenancies if evictions are easier

Three quarters of landlords and agents are willing to offer longer tenancies of more than 12 months, data from the...

Close