2014′s university leavers expect to have bought their first home by the age of 30, according to research published by Endsleigh. The research also reveals that, by the age of 30, the university leavers also expect to be married (average age 29), established in their career (average age 27) and to have a child (average age 30).
Endsleigh’s study of the expectations of the Class of 2014 was conducted by NUS Services Research Department, which surveyed 1,423 university leavers from across the country ahead of graduation. The research found that just over a third (38%) envisage they will move back home after finishing university, while a quarter (24%) hope to live with a partner, 8% think they will move in with friends, another 8% think they will live with people they do not know and 11% plan to live on their own.
Rented accommodation
According to the findings, university leavers expect to pay on average £499 in monthly rent for privately rented accommodation after they graduate.
While 35% plan to pay for rent themselves, 20% expect to split the cost with a partner, and 21% expect to receive some help from their parents, a relative or a guardian. Just under a quarter (18%), however, expect not to have to pay for their accommodation at all – which for 8% is because a parent, relative or guardian has agreed to do so for them.
When it comes to spending their money, 51% of the Class of 2014 anticipate their rent, bills and food to be only just affordable – while 6% said they would struggle to make ends meet. Similarly, 52% of respondents said that they would just be able to afford to keep up their social lives, while 16% say that this was a luxury they would no longer be able to afford.
The post-university world
For many recent graduates, the post-university world can be exciting and daunting in equal measure. 2014′s university leavers are clearly bullish and ambitious in their hopes and expectations for the future, aiming to reach a number of significant life milestones – including becoming established in their careers, buying a home, getting married and having their first child – all by the age of 30. With many of the respondents being in their early twenties, it will be interesting to see how these expectations might shift as graduates get older. 30 can seem a long way off at 21 but scarily close at 25!
In line with their plans, the figures also indicate that graduates are more than prepared to knuckle down during their 20s, especially when it comes to managing their money. However, the overall feeling is that the Class of 2014 is positive about moving to a new stage of their lives as they leave their university years behind them.
Source data:
The survey was conducted online ahead of Summer Term 2014 and surveyed 1,423 representative university students (sample aged 18-31, with 57% being aged 21-22 years old).
