One of the big reasons for this is the so called ‘boomerang generation’. A report from the National Union of Students says nearly 45% of all graduates are moving back in with their parents, leaving many parents having to rethink their lifestyle. So what does this mean for you in reality?

The not-so-empty nest

When your children head off to university, you necessarily don’t expect them to return home afterwards. Instead you might start to take advantage of their empty nests, transforming your home to suit your needs, not the needs of the family.

But with young-adult children increasingly looking for a place to stay, these plans could now have to be put on hold for the time being, or other adjustments made to the home so you can have both your new office and a room for the kids to stay.

And if you’ve already taken the step of converting their bedroom into a new library, study or gym, you may well be faced with the task of converting it back into a bedroom. And this could be costly – especially if it’s only short term with the children planning on moving out soon.

Another option is to keep your new room and convert another area into their room, such as the guest bedroom.

Or you could take it a step further with a so-called ‘graddy flat’. This involves converting outbuildings, a garage or basement into a self-contained living area for them. This gives them their own sense of space and you could even charge them a small rent.

And when they finally do leave home, you’ve got a room that is separate to the house that could be let via AirBnB to top up your retirement pot.

Downsizing delays

Many parents choose to downsize once the kids have left the building, whether that’s to reduce the amount of work needed to run a large house or to cash in on the equity.

But if you’ve already downsized you could be faced with the idea of living in a smaller home with the same size family. To make the most of your now reduced space, consider putting large items of furniture into storage until your kids finally fly the nest. Or convert the loft or garage into temporary storage space.

For those who haven’t downsized, or who have and still have the equity released from the sale, the money could be used to help your kids find their own place. A survey from KeyRetirement.com found that one in five homeowners are using the equity from their homes to help family members get on the housing ladder.

Of these, two-fifths have given £20,000 to their children, while almost a fifth provided a boost of more than £50,000. This can help them to put down a deposit on their home and avoid the boomeranging back home.

It’s also a good way of reducing your inheritance tax bill. As long as the money is gifted to them seven years before your death, it won’t be classed as inheritance.

Saving for deposits

If you aren’t looking to sell the family home but still want to help them make their first step onto the housing ladder, you can help them to build a deposit.

A number of parents have taken advantage of the recent changes in pension laws to take out lump sums that could be passed on to their kids to help them buy a new home.

Some families are also charging their children rent when they move back home, but this tends to be well below the market value to help them save for a deposit. As a parent, you could use this rental income to go towards their deposit also.