Extra bedrooms come at a price
11/11/2011
Families are forking out considerable amounts of money on properties that can accommodate a third children's bed, new figures from HSBC show.
It found that a three-bedroomed property is around £60,000 more than one with two bedrooms, therefore marking a 38 per cent increase.
Two-thirds (60 per cent) of parents revealed they had moved to a bigger house as a result of having a child, with 35 per cent relocating from a two to a three-bedroom property.
Head of savings at HSBC Bruno Genovese commented: "There are certainly many considerations to take when planning for your first child; however the second child seems to be a catalyst for many families moving to a larger home."
London was revealed to the be the most expensive place for a second child, where the cost of a third bedroom is around five times higher than in Yorkshire, standing at £163,270.
Posted by Michael Ewing
