Part Exchange new build for another new build

NellyB81

Hi all, total newbie to the forum.
Was wondering if anyone had ever part exchanged a new build (1 year old) property for another new build property.
Just wondering if it can be done. Bought a 3 bedroom home with 2 children already and recently found out that I am expecting again and there is no room for another wee one as my other children are 18 and 12 and doubtful that they will want to share their bedrooms.
The estate that I am on are still building but all houses sold and due to take a year out before restarting building other properties.
So not sure if we should try sell our house in the meantime or see if we can part exchange.

Any advice would be greatly appreciated.

Happy Sunday
Nelly x

GrumpyDil

Sorry but you would be exchanging a new build for a new build as your one year old house is now second hand like any other house that has been lived in.

So the question is really the same as any other part exchange would be. Would the amount they would offer for your house be enough to let you move to the new house.

A couple of years ago I would have said you will have lost money on the new build as it's such a short time since you purchased it but I have seen a few cases near me recently where one to two year old new builds are being marketed for more than the original purchase price. One example has gone SSTC but until completed and price on LR can't check what it has gone for.

Katgrit

I enquired about part-ex a couple's of years ago, and was told that the house had to be less than a certain % of new house. Eg, couldn't part ex a £180,000 house to purchase a £200,000 one. (These figures are off top of my head).

I don't know if that rule still exists, or if it was specific to that developer. But if you're only trading up one bedroom the price difference might not be enough.