If you were to analyse any recent demographic trends, this one is certainly quite significant and important. Firstly though, we need to consider the following facts and statistics:
- Young people aged 20 to 34 years (millennials or Generation Y as they also seemed to be referred by) are increasingly having to live back at home with their parents. In fact 618,000 more of them are living back with Mum and Dad in 2015 than in 1996. So be nice to your children and children, be nice to your parents.
- That is actually about one in four young people with the greater concentration (half) being at the younger end of this age spectrum
These figures are quite remarkable bearing in mind that previous generations (myself included at the grand old age of 53) left home as soon as humanly possible because we valued our independence. Obviously this generation does not enjoy that liberty and here are the reasons principally why:
- Financial reasons mainly. Young adults don’t own their own homes – just 30% of 25-29 year olds own their own homes down from 60% thirty odd years ago. The rest are certainly and correctly dubbed “Generation Rent” because at least 91% of them aged between 20-24 were living in rented accommodation in 2015
- Increased deposits for buying a property. This has gone from 10% to a peak of 27% at the height of the financial crisis but has since settled back down to an average of 20% but even so, this can still constitute quite a significant amount of money for someone just starting out on the property ladder. That is why the National Bank of Mum and Dad is now a significant lender of funds in this country
- Other reasons are that we are settling down and getting married later (32 years is now the average age to get married) and women now also have more choice when, or indeed whether, to have children
- We are also staying in further education longer and living at home whilst at university is now the default choice for a lot of students. Again mainly for financial reasons (but also perhaps because you still get all your washing and cooking done!!)
Those are the facts and they don’t look like changing for some time. So where does the garden annexe come in?
However nice it is to live back under the same roof as Mummy and Daddy, both sides might wish to have and value their independence. Let’s be honest, young adults are no longer children and want to live their own lives as independently as they possibly can. That is why a self-contained garden annexe with bedroom or bedrooms, shower/WC, kitchen and living area is the ideal solution. Another way of viewing this is to imagine that it is your first time buyer’s average sized flat – just in your parent’s garden! Hopefully the parents will charge minimal (or no) rent so it gives the occupants time to save up for that 20% deposit on a new property and they can come and go as they please, leave their dirty washing on the floor, play their music loud and watch TV till 3am.
But it is not just Generation Rent or boomerangers who are opting for the garden annexe solution. It is also the elderly who are spurning the traditional route of a care home and are moving back in droves to live with their offspring in a so called granny annexes. Or those middle aged amongst us who are having to move back home because of financial reasons or divorce for example.
And that is why we at the Hideout House Company have seen an explosion of enquiries for garden annexes in the past couple of years. We can offer a whole range of sizes and options to suite different budgets, space and requirements and as our buildings are built to conform the definition of a “caravan” (but please eradicate from your mind the immediate mental picture of some white box on a holiday park in Dorset – no disrespect to holiday parks in Dorset by the way or caravan manufacturers!), there are certain excellent advantages. Namely, VAT is significantly reduced, you may not need planning permission and they do not fall under the remit of building control.
For details on our range of garden and granny annexes, please visit our website given below or call on 01865 858982 or email firstname.lastname@example.org