3 ways to use your uni-bound child’s room

It’s hard to describe the different emotions you go through as one of your children packs up and leaves for university.You’ll feel a mixture of pride, sadness and an inevitable sense of worry as they fly the nest for the first time. 

Photo Credit: Petras Gagilas

While you may like the idea of keeping a shrine to your offspring, or at least keeping their bedroom in its current state for when they visit between semesters, there comes a point when you simply have to move on. Instead of using the room to store your vacuum cleaner and other domestic appliances in the short term, you can grab hold of this opportunity and do so much more with this space. Here are three ideas for you to consider.

Turn it into a study

Photo Credit: Sean MacEntee

You may have noticed that new laws have been introduced in the UK that give employees more scope to request flexible working arrangements from their boss.

According to the Office for National Statistics, there were 4.2 million home workers across the country as of March 2014 - the equivalent of 13.9 per cent of the nation’s overall workforce. This figure is expected to rise sharply in the coming years.

With this in mind, maybe you’d benefit from turning your university-bound son or daughter’s room into an office? It’s far better to have a professional environment to work in, rather than trying to cram your laptop and paperwork on to your dining room table.

Decorate the room and rent it out

It’s understandable that you’ll be wary about having strangers in your house, who wouldn’t be? However, more and more Britons are renovating their spare rooms in order to make a bit of extra pocket money.

This is a particularly shrewd move if you happen to live in the vicinity of high-profile local attractions. For example, there were plenty of stories doing the rounds of London-based homeowners renting out their spare rooms to sports fans during the 2012 Olympic Games.

Of course, with paying customers coming through your door, you’ll need to ensure high standards are maintained, which might mean you need to check the quality of insulation, heating systems and the general decoration of your spare room before you take anybody’s money.

Create your own gym

Photo Credit: C.C. Chapman

The 2013 State of the UK Fitness Industry Report showed that 12.6 per cent of the population are registered members of a gym or health club.

We all know that gym memberships can be expensive, so why fork out £30 or £40 every month when you can use your child’s room to create your very own gym? Granted, the cost of buying a treadmill and weights benches will be high at first, but think of the long-term financial savings.

If you are planning to go down this route and your spare room is on the first (or second if you’re lucky) floor of your property, you must ensure your floor is strong enough to hold the weight of your new equipment. The last thing you want is a gaping hole in the ceiling below.

Think of the value

Whether you choose one of these three options, or something completely different, it’s always worth considering any extra value that your plans will add to your property should you decide to sell further down the line.

A house that boasts a specially kitted out study with all of the mod cons will appeal to a buyer far more than a neglected old room that still has a poster of Cristiano Ronaldo hanging on the wall.

Bio: This blog post was written by Rachel Hurley, who is the brand development manager at Appliance Spares Warehouse

Spare room? Take a Lodger for the 2012 Olympics.

As the Olympics enters its second phase of ticket allocation, a consumer website suggests one way struggling homeowners could earn more income is to rent out a spare room for Olympic visitors.

Apparently, many homeowners near the UK's sporting event hot-spots - Wimbledon, Test Matches etc have already discovered the benefits of letting out a room or even a whole floor for guests during the duration of such large events.

And with warnings that many hotels are already fully booked, there could be a huge demand for accommodation near any Olympic venue.

In their money news, Credit Choices says Homeowners can earn £4,250 a year tax free renting out a spare room through the Government's rent a room scheme.

The income figure is an annual one, but rooms could still be let short-term as long as you don't exceed your allowance in any one tax year.

Credit Choices warns homeowners enticed by the scheme to think carefully before using the rent a room scheme. For example, you can't claim any expenses related to the letting - wear and tear, heating or lighting etc and you'll also have to make sure you've got proper property insurance cover and liability protection in case anyone is injured whilst staying with you.

But with some Wimbledon residents letting whole floors to ranked tennis players and charging £1,000 a week, the rewards can make it all worthwhile.

Do your homework - there are quite a few different websites that offer to promote your letting - before you commit your home, and your time.

This article first appeared in our weekly homeowner newsletter dated 27th June 2011. Click here to read the full newsletter.

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photo credit: leon brocard

*Please note, Price Engines Ltd and the 'Quoter family of websites are in no way affiliated with Credit Choices. You should always seek independent advice before entering into any letting arrangements etc.