More families ‘considering living under one roof’ to avoid debt

More Brits are considering extending their homes or moving in order to house more members of the family, new research has claimed.

One in four people would expand their properties or move to a larger one to accommodate extra people, according to a survey by Halifax Home Insurance.

It revealed that 31 per cent would do so for financial reasons and 43 per cent would do it in order to take care of their parents.

Furthermore, 11 per cent would like to have as many family members as possible under one roof.

Spokesman David Rochester said that rising debts and the spiralling cost of living could have contributed to this development.

“Changing financial pressures, plus the desire to look after the family and enjoy having them around seems to be showing a shift towards multi-generation households again,” he remarked.

A study from Saga recently found that more adults are going on holiday with their parents to save money in the wake of the credit crunch.

By Jamie Price