Should I sell my home before I buy my next home? Part Exchange explained

The money worries and general upheaval of purchasing a new home can be stressful. But the buying part is only half the battle. More often than not you have to sell your old home too – and that’s not always easy.

In fact, not being able to sell a home can often stop people from moving on. The process can be lengthy, demand for your current home may be low and broken property chains can make things really complicated. All this raises an important question for homeowners: should I sell my home before I buy my next home? Or is there a simpler way?

Our Part Exchange scheme is helping many people around the country sell their homes and move on up the ladder. This article is here to explain it all.

What is part exchange on a house?

Part exchange on a house is the process of trading some or all of an existing property’s value in order to buy a new build home. Our Part Exchange scheme is available to homeowners who want to move to one of our new developments. We agree a fair price for their current property then buy it from them, freeing up equity for their new home.

It’s perfect for homeowners looking for a seamless sale because it’s guaranteed, quick and there’s none of the hassle of dealing with home viewings or estate agents. It’s becoming more and more popular too: in the last year, internet searches around ‘What is part exchange on a house?’ have increased by 118%.

So, if you’ve fallen in love with a St. Modwen home – and want to sell your current property without the hassle – you may want to use our part exchange scheme.

How does part exchange work?

At St. Modwen Homes, the steps are very straightforward.

Homeowners looking to buy a new property at one of our developments get up to three independent valuations on their existing home from trusted estate agents.

When a fair price has been agreed between the seller and us, we commit to buying the property. This means the equity can then be used from the sale to help you purchase your new St. Modwen home.

There are no estate agent fees and there’s zero risk of broken chains.

Are part exchange homes a good idea?

Everyone’s circumstances are different and for some homeowners, part exchange might not work. If you’re in two minds, first get in touch with us to see if the scheme is available on the home you’re interesting in purchasing.

If it is, it’s well worth thinking about. Google searches for ‘Are part exchange homes a good idea?’ have increased by 260% between 2019 and 2021 so it’s definitely something that’s capturing people’s attention.

Demand for new builds can be high, and if demand for your existing house doesn’t match this, you may miss the opportunity to secure the home you desire. Also, your new build home may not have been built yet. Part exchange allows you to secure your perfect plot and then live in your existing home until you’re ready to move.

On top of that, as explained above, there are no estate agent fees, no risk of broken chains and everything is done quickly and fairly.

If you’re looking for a stress-free sale and you’re after an in-demand new build, then part exchange can give you a serious advantage.

If you’re interested in speaking to one of our sale consultants, please click here to find your closest development today.