loft apartment in parents house, good idea?

Jay83

Ive been saving for a deposit for my own place one day. I dont make that much money and i live in London. I think at this rate i might never be able to afford my own house in london, I would be lucky to get a 1 bedroom flat in afew years time.

My parents have their own 3 bedroom house on the outskirts of london. I always wanted to find a place near them eventually as we dont have much close family so it be nice to stay close.

Anyway we were talking about how would i ever be able to afford getting my own place one day, they said if i wanted to we could convert the loft into a separate apartment with en suite. So basically we would just share the front door but i could have my own space which is what i always wanted. Im not 100% right now. On paper it sounds perfect but im not sure. I wanted to stay close but not basically live in the attic lol.

Would this appeal to anyone else or would you just keep saving and wait for another opportunity to come along?

Doozergirl

Not exactly a long term solution is it?

PasturesNew

How big is the garden? If you just need a bit of personal, cheap, space, you could get a garden room/home office/shed-like temporary thing in the garden. They can be quite cheap, yet fully insulated with double glazing. Also, if it's just a garden room, not self-contained, then it keeps things easier to get approval.

Jay83

Well it wouldnt be forever, i am working full time and studying part time in the evenings. I hope to be earning double or more than my current salary but not within the next 4 years.

Jay83

Not sure what a garden room is but im just thinking the loft conversion would make it feel more like a separate apartment. With it having its own bathroom. I wouldnt have to share the house at all except the kitchen.

dianah

how much would the conversion cost?

also... would they be happy for you to bring people round? would you be happy to bring dates to what essentially is your parents house? staying in the same house, albeit in a converted loft, is a lot different to having a house near your parents.

i wouldn't want to do it. if you don't mind though and it'd be saving you a lot of money by not paying rent.. it really very much depends on what you'd be happy with.

Wine_of_the_World

I wouldnt think a loft conversion with a bathroom would feel that much like a seperate appartment. My parents have an attic conversion, and I wouldnt think of living up there. Its not just the font door, but also the hall / landing, kitchen, also the living room if you would friends over.

PasturesNew

Jay83 wrote: »

Not sure what a garden room is

Take your pick: http://www.google.co.uk/#hl=en&source=hp&q=%22garden+room%22+&btnG=Google+Search&meta=cr%3DcountryUK|countryGB&aq=f&aqi=&aql=&oq=%22garden+room%22+&gs_rfai=&fp=459b761b84e2996a

A loft room means big planning permission/building regs, up to 8 weeks to build it, bigger cost. That means it takes you longer to get into it - and it's chewed up your money.

As you're sleeping over your parents' head, it's harder to enjoy the company of young ladies too

tabskitten

My really honest opinion?

Dont do it.

izzzzythedog

approx 15 grand to convert , who will pay this ?

DVardysShadow

izzzzythedog wrote: »

approx 15 grand to convert , who will pay this ?

I would assume that the OP would. The problem is that when it comes to time to move on, OP is probably not able to recover any of the equity.

It might work out as an alternative to a contribution to the household expenses, but it looks like an expensive way of getting space which is still not really your own.