Should I Part Exchange My House?

The short answer is yes, you should part exchange your house, if it is the right option for you. But let us tell you a bit more about what house part exchange means and who it is best suited to before you make the decision.

What is House Part Exchange?

When buying a new build home, most builders will offer part exchange as a way to support you in purchasing your new home from them. It means Strata, or the builder you choose, will become your buyer, so you then don’t have to list your property for sale.

How Does Part Exchange On A House Work?

1. Valuation: The process begins with the valuation of your current home. This is carried out by a minimum of two independent estate agents or surveyors, so the valuations are fair and unbiased.

2. Offer: Based on the valuations, Strata’s Part Exchange team will make you an offer and talk you through how we arrived at this price.

3. Agreement: If you accept the offer, you can go ahead and buy your new Strata home, knowing your existing property has a guaranteed buyer.

The Added Benefits of Part Exchange With Strata

If we sell your property for a profit, we’ll split the difference with you, giving you 50% of any profit over the price we offered you for your home
No estate agent fees or hassle when selling your existing property (the average selling costs of a £200,000 home in the UK are £5000-£8000)
We give you seven days to move into your new home before handing over the keys to your old home
Up to £1000 towards your removal costs
We’ll organise a professional house clean when you’ve moved out, so you don’t need to worry about cleaning after you move
Part exchanging your home means there is no chain, making the sale much simpler and less at risk of delays

Is Part Exchange Right for Me?

If you need to move quickly and don’t want the added stress of selling your existing home, then part exchange is certainly your best option. Things to consider when making a decision on whether part exchange is your best option are:

Valuation: While fair, the offer will be slightly below market value, due to the cost to Strata to market and sell your home. While you will be saving these fees yourself, it may mean you absorb some of them in the price you receive for your property.
Eligibility: Not all properties qualify for part exchange. If you have a leasehold home or the new home you’re buying isn’t at least 30% higher in value than your current property, then you aren’t eligible for part exchange with Strata.
Timing: Part exchange is a great way to get a fast sale, if you’re looking to move quickly and cost effectively. But if your new home isn’t ready in the next 2-3 months, you may find our Assisted Selling Plan scheme a better route, as it allows you more control over the sale of your property while still saving on fees and benefiting from our expert management of the chain.

So, should I part exchange my house?

Part exchange offers a streamlined and efficient solution for home buyers and sellers looking to simplify their move. By eliminating the property chain and providing a guaranteed sale, it reduces the stress and uncertainty often associated with selling a home. While it may not be suitable for everyone, if speed and convenience are your priorities, part exchange is a great option for you.

Chat to your Experience Manager about Part Exchange and Assisted Selling Plan.

You can get a no obligation appraisal and offer when you reserve your new home with us, and our expert team will guide you on what the best option for you is.

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