swapping houses with son

mr_green_3

has anybody any experience of swapping houses with a relative.? we have a four bed bungalow and they have a three bed house. They do not have enough room and plan to extend. However with three young children this can be inconvienient and very disruptive. We on the other hand are use to this and could put up with it and do a lot of the work ourselves.
there would be some price differential and i intend ncontacting a solicitor etc. However there may be somebody out there who can give me the benifit of their experience and/or advice. Both properties are under £500,000.

PoorDave

Are you planning a permanent swap, or just to change places while the extension is done? Or are you saying if you swap, then there's no need for an extension?

mr_green_3

Thanks Poor Dave,
t looks like it could be permanent and I believe we would complete the extention and maybe resell in the future. The nhouses are within a mile of each other and we help with the school runs etc as my son and his wife are in full time shift employment

martindow

I suspect that if the move is permanent they should be conveyanced with all of the costs involved and that if they are 'sold' at artificially low prices to avoid stamp duty there could be some comeback on tax avoidance. I think you need to have a word with solicitors - most offer an initial free half hour consultation. Good luck and I hope it all works out well.