Anyone any experience in House-Swapping?

NorthLondonChick

Hi. I bought a large studio apartment in a really nice private development (complete with gorge gardens and heated pool!) 2 years ago. When I bought it, it was inhabitable but I spent a lot of time and effort repairing it myself and its lovely now. The only problem is that I now have a partner who's moved in. And while the studio is a very spacious one, my shifts at work have also changed which means I have to get up at 230am every morning and go to bed really early at night too. So ideally we're looking for a 1 bed place. I dont really want to sell and go back to renting and my partner and I feel its too scary for us to commit to buy together so I was thinking about House-Sawpping which I've heard about. I was wondering if anyone had any experience of it? There seems to be lots of choice available if you're in council or rented accommodation but not if you're a home-owner. My flat's been on the market for around 8 wks now. Although there's been a lot of viewings and even some offers, it's mostly been from BTL investors who assume I'm in financial difficulty and am willing to slash 30% off my price (I'm not - thank God).

At the moment we're still getting on together but I dont want it to get to the stage where we're at each other's throats (we also work together!) so any advice would be greatly appreciated.

Many thanks!

cardsharps

Yes, me and my husband love it. You meet some lovely people and it helps stop our relationship from getting stale. Use a reputable agency as you don't want to get mixed up with any weirdos or perverts. good luck and let us know how you get on.

Idiophreak

Err not sure the first two posts are on the same subject

GDB2222

NorthLondonChick wrote: »

Although there's been a lot of viewings and even some offers, it's mostly been from BTL investors who assume I'm in financial difficulty and am willing to slash 30% off my price (I'm not - thank God).

The chances of you finding a flat swap are rather low, as it's not usually done for private flats.

The 30% lower offers may, unfortunately, be realistic. Whilst prices are down 20% or so generally, studio flats are the worst hit. Now that prices are lower, FTBs can afford to bypass studios and buy 1-bed or 2-bed flats. So, there may be no buyers out there, except the BTLers. I guess you could let your studio out and go and rent somewhere else yourself.

Have you looked to see what comparable flats have actually sold for?

silvercar

New build developers are your best bet, part exchange seems to be their middle name.

Ms_Chocaholic

cardsharps wrote: »

Yes, me and my husband love it. You meet some lovely people and it helps stop our relationship from getting stale. Use a reputable agency as you don't want to get mixed up with any weirdos or perverts. good luck and let us know how you get on.

Interesting - wonder if they thought this thread was about wife swapping :eek:

Back to the OP - is there any chance you could make it into a one bedroomed apartment by partitioning off part of the flat

GDB2222

Ms_Chocaholic wrote: »

Interesting - wonder if they thought this thread was about wife swapping :eek:

I thanked them because I just assumed they were joking. You think they weren't? :eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:

Mamabear

Where did that pampas grass thread go??

NorthLondonChick

GDB2222 wrote: »

The 30% lower offers may, unfortunately, be realistic. Whilst prices are down 20% or so generally, studio flats are the worst hit. Now that prices are lower, FTBs can afford to bypass studios and buy 1-bed or 2-bed flats. So, there may be no buyers out there, except the BTLers. I guess you could let your studio out and go and rent somewhere else yourself.

My asking price is around 20% below what they were selling for last year The plan was to move out and rent anyway for a short time so maybe I'll see about letting it. Just a bit scared of having to cover 2 rents if the flat is empty for a while! A company approached me the other day offering full market value if I'd rent it to a couple for 2 years on a rent to buy lease ie they rent for 2 yrs then buy it at the price its selling for at the moment. Maybe I'll look into that a bit more.

I've been looking into the part exchange thing too but no developers will take on studios. Have even been approaching landlords who's properties have been empty for a while to see if they want to do a swap since my place seems to rent easily thanks to the pool. I'll try anything!!:rolleyes:

Thanks for your help everyone! Really appreciated :heartsmil

GDB2222

NorthLondonChick wrote: »

My asking price is around 20% below what they were selling for last year The plan was to move out and rent anyway for a short time so maybe I'll see about letting it. Just a bit scared of having to cover 2 rents if the flat is empty for a while! A company approached me the other day offering full market value if I'd rent it to a couple for 2 years on a rent to buy lease ie they rent for 2 yrs then buy it at the price its selling for at the moment. Maybe I'll look into that a bit more.

I've been looking into the part exchange thing too but no developers will take on studios. Have even been approaching landlords who's properties have been empty for a while to see if they want to do a swap since my place seems to rent easily thanks to the pool. I'll try anything!!:rolleyes:

Thanks for your help everyone! Really appreciated :heartsmil

My asking price is around 20% below what they were selling for last year

You mean asking price last year or actual sale price last year? It's worth checking actual sale prices for studios in this block on nethouseprices.co.uk. At least then you will have a better idea of what yours is worth currently.

I've been looking into the part exchange thing too but no developers will take on studios

That's because studios are a pain to shift in today's market.

I'll see about letting it. Just a bit scared of having to cover 2 rents if the flat is empty for a while!

I think you are right to be cautious. Maybe you can find a modus operandi with your present studio? Ear plugs, something for over your eyes?

hamblettamaud

i hope i'm not hijacking the thread - i think it might be related to a company/website called Houseswapper4sale. i wonder has anyone used it. was it successful? are they straight swaps or is there a bargaining on prices so that one party owes the other?