Since the abolition of student grants, students have had to take on hefty loans to pay for their tuition fees. According to Barclays Bank, the average student has debts of £5,286 when they finish their education. It’s no wonder that young adults are avoiding the expense of buying and running their own home in favour of living with their parents for longer. Laura Quiggan looks at one solution for hard-pressed families
In a report by the Universities and Colleges Admissions Services, one in six students will be living in their family home this year while they study. Developer Weston Homes have taken this surprising statistic as inspiration for the design of their family homes at the Ashcroft Grove development in Buntingford, Hertfordshire.
By incorporating attic living space into the design of the properties, Weston Homes give independence to families who want to support their children studying into their mid to late twenties. Loft conversions in a similar second-hand property could cost between £20,000 and £35,000, but three out of five homes at Ashcroft Grove have attics built in.
While scholars can take advantage of the home’s study, the rest of the family can enjoy three reception rooms, a fitted kitchen, utility room, bathroom, shower room, cloakroom and garage.
Educational facilities in the area include Haileybury College, St Edmund’s College, Bishop’s Stortford College and Heathmount School. Transport links are excellent with road and rail links to London and Cambridge, Stanstead airport on the Essex border and market towns of Bishop’s Stortford and Hertford.
Prices for a five bedroom house start at £370,000. For more information contact the marketing suite on 01763 274427.