• Sat. Dec 2nd, 2023

North East Connected

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North East buyers are opting for Part Exchange over traditional house sale routes, figures show

According to figures, the stress that can come with moving home seems to be having an affect on house buyer and seller decisions in the North East. It’s been previously reported that selling a house is the second most stressful life experience other than divorce, and buying another home is the third most stressful. With supportive schemes like Help to Buy continuing to prove popular, another option, Part Exchange, also appears to be on the rise.

The housebuilder, Barratt Homes North East, who started the scheme back in 1971, has seen a noticeable increase in use of part exchange schemes. Since the launch of its Teal Park Farm site in Washington, 25% of homebuyers have used Part Exchange, with a 58% surge of purchasers having used the scheme in the last six months.

Using the Part Exchange scheme, potential house buyers have the opportunity to sell their existing property to Barratt Homes in order to move with no estate agents fees or chains.

Louise and Christopher McClennan bought a brand new house at Teal Park Farm in 2012 with their seven-year-old daughter, dog and two cats. Speaking of their experience with a part exchange scheme, Louise McClennan commented: “After living at Teal Park Farm for five years we decided to upgrade to a bigger property in 2017. We knew of the Part Exchange scheme and as we have such a busy family life, using the scheme made much more sense to us than selling and buying a new home through a more traditional route.”

“When we lived in our old home, we loved the character that came with it, however I much prefer owning a property that no one has ever lived in or used. Helen, Claire and Dawn from Barratt were all brilliant in helping us part exchange the home we already had at the development for a bigger one and the process was made as simple as it possibly could have been. If anyone is thinking of buying a home this year we would advise people to save as much as you can as moving homes can come with a lot of hidden costs. Luckily with Barratt we managed to avoid this thanks to their Part Exchange scheme and we are now settled in our larger property with more space for our family.”

Ashlea Wright, Sales Manager at Teal Park Farm commented: “Our Part Exchange scheme has been very popular at Teal Park Farm and we’re glad that it helped to make Louise and Christopher’s move so much easier.

“The increased demand for ease of sale and move from buyers is one we have seen across the region. There are a number of options available but I would recommend anyone considering this route to speak to a Barratt sales advisor to find out more.”

Teal Park Farm on Barmston Road offers a range of three and four bedroom starter and family homes, with easy access to the major commuter networks such as the A19 and A1.

For further information about Barratt Homes, please visit: http://www.barratthomes.co.uk/tealparkfarm

By admin