Home Swapping - Educating the Nation

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I would like to start by stating that there are thousands of people in the UK that want to sell their home but are not on the market because they are under the impression that there is no market. They are wrong. There is still a huge amount of people that want to move and there always will be. We simply need to tweak the system and change our deep routed conception of the traditional buying and selling process.

If you have been paying attention to the UK property market recently, you may have heard the terms “Home Swap” and “Part Exchange” being used quite frequently.

Home Swapping (or part exchanging) is a fantastic method of selling which offers massive benefits to anybody that takes advantage of the concept and yet many home sellers throughout the UK will immediately dismiss the idea as they think that it may not be for them. I can say with confidence that a huge percentage of these people are missing out without realising it.

The reason that part exchange / home swapping is often not considered a suitable method of selling is largely due to the many misconceptions and false information that is available about the subject.

There is one simple question that should determine whether or not part exchanging / home swapping could work for you:

“Are you serious about selling your property”

If the answer to this question is yes, there is every chance that you could benefit by looking into part exchanging / home swapping. How easy would the buying/selling process be if you could find your perfect home as well as finding a buyer for your own at the same time??!! Well, this is what the model allows you to do.

The theory behind the idea is very simple. Mr Smith buys Mr Jones’ property and Mr Jones buys Mr Smith’s property. In essence, you simply swap homes.

So what are the benefits?

A huge benefit is that there are only two people involved in the chain. I would be surprised if anybody reading this article didn’t know of family members or friends that had almost completed and then the chain fell through. It is one of the most stressful and disappointing factors involved in buying a house and leaves you right back at the beginning after all your hard work. With a “swap” there are only two people involved in the chain. The risk of the sale falling through is reduced by a massive amount and you are able to relax once you have agreed a sale rather than worrying about possible upsets that can and often will occur.

You can also expect a much quicker and smoother completion. There will be far less sales chasing involved in a “two party” chain which means less work for solicitors and the estate agents that are handling your property.

The greatest benefit of home swapping / part exchanging is that you are able to find your ideal next home and find a buyer for your own home at the same time. Imagine the time, money and effort that could be saved when compared to searching the market for a suitable property the traditional way and then still having to find a buyer for your own property. This process can often take months and many sellers will end up disappointed due to loosing out on their dream home and not being able to find a buyer for their own.

How long has this method been around for?

The theory behind part exchanging has been around for many years. Previously, the concept had mainly applied to new builders taking your home in exchange for a new home. This concept is still available and still works very well but the model is now increasingly becoming applicable to home owners swapping properties with other home owners in the UK.

The reason that part exchange / home swap has not been focused on heavily before now is that there has never been the need to. The UK housing market has constantly relied on a consistent stream of first time buyers to stimulate the start of the property chains. However, first time buyers are no longer available in the numbers that the market has grown accustomed to and so there has been a massive decline in sales throughout the UK.

This has led to property professionals looking to alternative ways of selling that do not rely on first time buyers. The most effective alternative way of selling is part exchanging / home swapping. The process does not rely on first time buyers what so ever. All it relies on is two home owners purchasing one another’s property.

Ok, it’s a good idea but what are the chances of finding a swap

Just the fact that you have heard the phrase “home swap” or “part exchange” shows that there is an increasing demand for people to take advantage of he process.

Many Estate Agents will already look for suitable matches within their own offices when they take on a new instruction. However, this will only enjoy limited success due to the fact that they are only able to access information on their own properties. Companies such as PartExMyHome.com now provide a national database of home swap / part exchange properties which allows users to view suitable property from all over the country.

The more people that join up to sites such as PartExMyHome.com, the more chance you have of finding a perfect swap and getting moved!

So what happens next?

If you manage to find a suitable swap, the next steps taken are exactly the same as if you had agreed a sale the traditional way. Both sides agree acceptable offers (with the cheaper house paying the difference) and solicitors are then instructed to carry out the necessary work in able to get the properties to complete.


So what happens when the first time buyers return and the market picks up?

The answer to this question should be “nothing”. Many people will argue that if the market picks up, there will be a very small demand for people that want to part exchange. I would argue exactly the opposite. The theory behind the concept is fool proof and if enough agents and vendors realise this, it could be a huge boost for the UK market. For those that do argue there will be little demand I would say the following:

Whether you are operating in a very poor or extremely buoyant property market, who would want to miss out on the opportunities and benefits which are created by part exchanging / home swapping?? The concept works no matter what state the market is in and creates sales that previously may not have been realised. Why should we dismiss the process and risk loosing out on possible sales just because the market picks up?

So, to conclude, if you are selling a property and are looking to move into another home, it is worth advertising your property as available for part exchange or “swap” as you just might find the perfect swap. Even investors that are looking for extra cash can benefit as they are able to exchange for a property lower down the chain and release equity.

Anybody that does not take advantage of the concept is missing out on a possible sale that involves far less stress and provides a fantastic, often easier, alternative to buying/selling the traditional way.


For more information with regards to home swapping / part exchanging, please call 0844 2510 480 or e-mail info@partexmyhome.com

Alternatively, visit www.partexmyhome.com.