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"Trading In" your house?

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  • 08-12-2008 6:12pm
    #1
    Robertr
    Registered Users Posts: 729 ✭✭✭


    Has anyone been able to do this yet?

    Thinking about it and it seems to make sense for a Developer/Builder as they can reduce the value of their stock and get some cash in the bank.

    I'd love to get a much more expensire house then the one I'm in at the moment but could not be bothered with all the hassle of selling my own. If I got a reasonable valuation I'd be happy to trade up.


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Robertr wrote: »
    Has anyone been able to do this yet?

    Thinking about it and it seems to make sense for a Developer/Builder as they can reduce the value of their stock and get some cash in the bank.

    I'd love to get a much more expensire house then the one I'm in at the moment but could not be bothered with all the hassle of selling my own. If I got a reasonable valuation I'd be happy to trade up.

    It was possible up until the budget, when taxation policy on the matter was reviewed. You now have to pay stamp duty on the transaction, despite the fact that no cash may have changed hands......


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    #3
    Robertr
    Registered Users Posts: 729 ✭✭✭Robertr


    Wouldn't mind paying the stamp as you would have to anyway if you managed to sell your house and buy another.


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Go for it then- there are a number of schemes out there in the open market catering to what you're proposing.


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    #5
    Robertr
    Registered Users Posts: 729 ✭✭✭Robertr


    You know of any in particular?


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    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    It came up previously in this thread (in relation to "luxury" homes)- but its something I'd broach with any developer in the current market.


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    #7
    Robertr
    Registered Users Posts: 729 ✭✭✭Robertr


    I've banged off a few emails for North Wicklow developments so we'll see what comes back.


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    #8
    NewFrockTuesday
    Banned (with Prison Access) Posts: 1,405 ✭✭✭NewFrockTuesday


    I've banged off a few emails for North Wicklow developments so we'll see what comes back.

    Ooohhh.....Im really interested to hear their replies. :)


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    #9
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    I'm a big fan of "If you don't ask, you won't get it....."
    Seriously- I wish more people would simply ask for discounts or swaps/exchanges like this. We have some sort of a psyche in Ireland whereby its considered impolite to ask for discounts...... I get freebies even grocery shopping, as a result of asking- I've enough Special K to see me through to February........

    Do post back and let us know what the outcome is.......


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    #10
    321654
    Closed Accounts Posts: 315 ✭✭321654


    A guy i work with swapped his house in California with a guy here who wanted to move there about 3 months ago. I think its a great idea. He seems very happy with the trade. No fx charges and much less hassle.


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    #11
    NewFrockTuesday
    Banned (with Prison Access) Posts: 1,405 ✭✭✭NewFrockTuesday


    Any word back on this?


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    #12
    Robertr
    Registered Users Posts: 729 ✭✭✭Robertr


    Nothing!


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