Most people upon hearing the term “Trade In” would associate that with trading in an old car for a new one or perhaps a better used one. Who would think it could apply to houses also? Well it can and it does.
The continual Gentrification of the inner suburbs of our major cities is driving redevelopment which means old homes are being replaced with newer ones and sometimes even older ones better suited to the changing needs trends and uses in the area. The ability for houses to be relocated allows for the option of selling an existing house for removal from site and buying another one to replace it.
Imagine living in a slightly run down 1950’s style house in an area where all the houses around you are being renovated or replaced with much more modern and expensive homes. You could go to a used house reseller or house remover and find a new or used modern home to replace it with and they also might just give you something back for your old home i.e. offer you a trade in.
The reverse is also happening. You might for example live in a 1960’s or 70’s style home that is in an area dominated by older period style homes. In this case you might trade in your relatively newer home for a much older and more desirable one that is in keeping with the other homes in the area and greatly improve the value of your property by doing so.
In Brisbane its common for homes straddling a subdivision of two blocks to be replaced with two older homes in keeping with the types of homes in the area. Thrifty builders, investors and developers have made good money doing this time and time again.
It helps to change the way you think about your house. Think of it as a portable item that can be moved and replaced rather than as a permanent fixture on your land. Not all homes will be suitable to trade in, but it is certainly worth finding out.
Who knows, house removal could by your answer!