As winter approaches, and a fear that the care system is set to fail hundreds of thousands of older people across the UK, new research confirms almost 40% of Brits do not feel comfortable putting their parents into care and would rather have parents and even in-laws move in instead.
Care home costs have risen by 57% in the last five years and a third of UK consumers are concerned about the financial burden and are considering how it is viable. The top 5 financial sacrifices Brits think they would have to make to support their parents in their retirement years include:
The research, commissioned by iHus, asked 2,000 UK consumers how they’re planning to support and care for their ageing parents, their attitudes towards living closer, or even together. Almost one third of the UK say spending quality time with their parents and/or in-laws has changed as a result of the pandemic and in fact more than half said it’s more of a priority now than ever before. The top motivators and benefits behind moving in together were:
Celebrity TV and radio presenter Tony Blackburn, aged 80, father and grandfather himself, has faced this very issue and turned to multigenerational living as the solution.
“This research rings home to what happened in my family situation not too long ago. We needed a solution that allowed my ageing mother-in-law to be closer to us but it was essential for her to retain her own sense of independence and privacy. We had an annexe built and we’ve never looked back.”
Trevor Smeaton, CEO and founder of iHus, the UKs leading specialists in the design and build of stylish bespoke Granny Annexes comments, “Our research showed over 50% of Brits would be happier living closer to their families. Multigenerational living is often a forgotten solution to an age-old problem. We see families making this desire to be closer together a reality every day, and reaping the financial and emotional benefits of their decision – many wondering why they didn’t consider it sooner. ”
