Buying and selling a home can be a stressful experience, especially if you are caught in a long chain and are constantly worried that a link in the chain may fall through, leaving you in what can often be a time-sensitive and difficult situation. For many people who opt to buy a new home the chance of part exchanging their existing property for a new one through the developer is very tempting indeed. It takes all the worry out of the sale and purchase and will speed up the transaction so you can move in quickly at a timescale to suit you.
Many new home builders offer a part exchange scheme and the terms and conditions do vary but in general terms this is designed for people moving 'up the ladder' with most builders requiring a minimum differential in value between the home you are buying and the one you hope to part exchange. The offer made for your current property will be based on a market valuation and, in some instances may be slightly lower than you may achieve through a private sale although you should bear in mind that you will be saving on estate agents fees and will be able to plan your move to suit your needs. If your reason for moving is to be closer to a new school or place of work for example, the fact that you have an assured moving date will be reassuring. When the property market is slow with restricted credit facilities for buyers, to part exchange your property for a new home is definitely an excellent option.
Browse Part Exchange homes by developer