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"Trading In" your house?

Robertr · 2008-12-08 17:12:14

Has anyone been able to do this yet? Thinking about it and it seems to make sense for a Developer/Builder as they can reduce the value of their stock and get some cash in the bank. I'd love to get a much more expensire house then the one I'm in at the moment but could not be bothered with all the hassle of selling my own.…

08-12-2008 5:12pm

#1

Robertr

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Has anyone been able to do this yet?

Thinking about it and it seems to make sense for a Developer/Builder as they can reduce the value of their stock and get some cash in the bank.

I'd love to get a much more expensire house then the one I'm in at the moment but could not be bothered with all the hassle of selling my own. If I got a reasonable valuation I'd be happy to trade up.

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#2 08-12-2008 5:14pm

The_Conductor

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Robertr wrote: »

Has anyone been able to do this yet?

Thinking about it and it seems to make sense for a Developer/Builder as they can reduce the value of their stock and get some cash in the bank.

I'd love to get a much more expensire house then the one I'm in at the moment but could not be bothered with all the hassle of selling my own. If I got a reasonable valuation I'd be happy to trade up.

It was possible up until the budget, when taxation policy on the matter was reviewed. You now have to pay stamp duty on the transaction, despite the fact that no cash may have changed hands......

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#3 08-12-2008 5:17pm

Robertr

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Wouldn't mind paying the stamp as you would have to anyway if you managed to sell your house and buy another.

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#4 08-12-2008 5:19pm

The_Conductor

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Go for it then- there are a number of schemes out there in the open market catering to what you're proposing.

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#5 08-12-2008 5:36pm

Robertr

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You know of any in particular?

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#6 08-12-2008 5:41pm

The_Conductor

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It came up previously in this thread (in relation to "luxury" homes)- but its something I'd broach with any developer in the current market.

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#7 08-12-2008 6:00pm

Robertr

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I've banged off a few emails for North Wicklow developments so we'll see what comes back.

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#8 08-12-2008 6:04pm

NewFrockTuesday

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I've banged off a few emails for North Wicklow developments so we'll see what comes back.

Ooohhh.....Im really interested to hear their replies.

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#9 08-12-2008 6:13pm

The_Conductor

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I'm a big fan of "If you don't ask, you won't get it....."
Seriously- I wish more people would simply ask for discounts or swaps/exchanges like this. We have some sort of a psyche in Ireland whereby its considered impolite to ask for discounts...... I get freebies even grocery shopping, as a result of asking- I've enough Special K to see me through to February........

Do post back and let us know what the outcome is.......

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#10 08-12-2008 6:35pm

321654

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A guy i work with swapped his house in California with a guy here who wanted to move there about 3 months ago. I think its a great idea. He seems very happy with the trade. No fx charges and much less hassle.

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#11 12-12-2008 12:21pm

NewFrockTuesday

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Any word back on this?

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#12 16-12-2008 4:31pm

Robertr

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Nothing!

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