25th July 2010

Reasons why you should consider a home swap

Home swapping is a tremendously popular and smart way of moving home. Read on to find out why.

Your reasons for moving could be:
  • Relocation due to a new job.
  • You fancy moving to another area of the country.
  • You need a larger property.
  • You are slightly struggling with your mortgage repayments, and want to downsize to a smaller property.

The reasons can be many, but moving is often not as simple as it should be. Because you need to find a buyer for your property before putting an offer in on your next home. And the chances are, the seller of the interested property is also looking for their next property. The whole process becomes quite tangled and stressful as you wait for the chain of buying & selling agreements to happen, completely outside of your control. This is one of the most fundamental reasons that many are turning to home swapping.

Home swapping not only applies to the mutual exchange of two similarly priced properties, but can occur as a part-exchange for both parties. A typical home swap scenario would be where one side move up into a higher valued property, while the other side of the mutual exchange move into the lower valued property. This is the exactly how you would take advantage of a property swap in order to trade up or downsize your home. In fact, most home swap transactions would take place as a part-exchange because the final agreed price of mutually exchanging properties will rarely ever be exactly the same. Therefore there is almost always a balance paid from one party to another in a property swap.

Of course, home swapping is also commonly used for moving side ways, where home swappers exchange properties of similar value. This may happen if for instance when one family is relocating from the countryside to the city, while the other mutual side of the swap conversely wish to relocate from the city to a more rural location.

Homeswaps avoids the complications and stresses of a chain. This is one of the main reasons why property swapping has become so popular in the UK.

Don't get stressed out

Swapping is hassle free

There are no added complications with regards to conveyancing. A property swap can be dealt with by any reputable solicitor just as easily as a conventional property transaction. Major conveyancing firms will already have good experience of home swap transactions, due to their increasing popularity here in the UK. In most circumstances, the process is likely to be more straightforwards because your buyer and vendor are the same individual.

Say "No" to the dreaded chain

Because you only deal with one party in a home swap, you completely avoid the nasty situation of a chain. A property chain is the term given where individuals in a property transaction are waiting for eachother to sell their property in order to proceed with the transction. In many instances, the chain can collapse causing the whole deal to fall through. There are no such worries in a property swap, because your buyer and seller are the same individual.

There are already plenty of home swappers on our database waiting to find their ideal swap. So increase your chances of a successful move by advertising your property For Swap or For Sale on Glass Bob today for free!

No Chain

Glass Bob - Swap your home for only £9.99