As an increasing number of 18-24 year olds move back home, parents create additional space in the home through loft conversions – Kent house prices could be to blame for this slippery property ladder.
You have recently graduated with a degree in rocket science, you have the potential to give NASA a run for their money and for all your hard work you should be moving into your very first home. But getting onto the property ladder has spiralled into something of a pipe dream due to the recession and rising house prices in Kent – Loft conversions could answer your prayers.
Moving back into your childhood bedroom in Kent - Transformers wallpaper and matching bed sheets aside - is an inconvenience to say the least. But the recession leaves young and very capable professionals in Kent with no choice when redundancy and unemployment fears ripple.
UK unemployment rose to 2.22 million in the first three months of 2009, as released by the Office for National Statistics. Job centres were in inundated with claimants and the number of people in the UK claiming Job Seeker's Allowance hit a shocking 1.51 million in April 2009. Areas such as Thanet, Swale, Gravesham and Canterbury are the worst affected areas of unemployment in Kent.
Loft Conversions for Graduates
Doom and gloom has been predicted for this year's graduates, but no-one has forgotten about the class of 2008 who are still struggling to find employment during cruel climates. With a terrifying number of 18-24 year olds still jobless and living with their parents, it seems that the only way to regain some independence is by investing in modern loft conversions. Kent totalled an unemployment figure of 35,197 in May 2009 which has opened up business for The Bank of Mum and Dad.
The Need for Loft Conversions
Kent house prices, on average, are almost twice as expensive as the properties in the South Yorkshire region and those in the county of Middlesbrough. There is almost a £60,000 difference in average house prices between properties found in the West Midlands and the properties found in Kent. Loft conversions are ideal for creating an independent space within a family home – this could get young people through the merciless recession.
But it's not just graduates who are desperately seeking loft conversions in their parent's homes – families who can not afford to move house are converting their lofts for extra space and those facing a difficult buyer's market are turning to loft conversions to significantly increase property value. Whilst the country has never seen a greater need for modern loft conversions, Kent graduates add to this demand as graduate job cut fears spread.
Loft conversions can turn unused space into functional rooms, and can be tailored to individual needs. So whether you need a mini gym, extra office space, a home cinema room or an additional bedroom for children returning from university, space and improved family life can be achieved by loft conversions. Kent is seeing a rise in demand for loft conversions as people simply can't afford to upgrade to a bigger home.
It's Not All Doom and Gloom
Despite the very difficult market conditions, there always seems to be a ray of hope. Kent house prices are respective of the affluent home buyers. Evidence also shows that the market is on the move again, but mortgages have been replaced with wads of cash, with a 92% increase of cash buyers between the months of January and April 2009.
If you are selling in Kent then splashing out on loft conversions could mean you'll be cashing in.
Truss Loft for Loft Conversions
Kent property prices vary greatly, with Sevenoaks being the most expensive and areas like Thanet and Medway being relatively cheaper. So if you are looking to increase the value of your property then get in touch with Truss Loft for beautiful and practical loft conversions. Truss Loft can turn your unused attic space into a luxury master bedroom, an office or study, a music room or recreation room.