The depressed housing market of the past few years has given rise to a clever – and unusual – new way of selling a home. It’s a lot like online dating, but it’s for houses, not individuals. This unique twist to real estate that could only happen in the current digital age has birthed successful transactions across the country, not to mention several satisfied home buyers. Find out whether online dating for houses is an option you should consider.
How to meet your (housing) match
Online dating for houses, also known as house trading or home swapping, has ballooned in popularity over the last few years. Some online house trading sites have seen their user account volume spike by 1,000% in a two-year period. This is good news if you’re interested in house trading – it means more options, more availability, and a greater likelihood that you’ll find the right match.
The idea is simple: Find someone trying to sell a home that suits your needs. See if that same person is interested in buying your home. Agree on a few stipulations, and shazaam – you’ve both sold and bought a house in no time!
What the home-trading “dating” sites offer
Most of these online home swapping sites provide a forum for you to post the details of the house you’re putting up for sale. Along with that they let you make a “wish list” for your new home.
At last glance, about a dozen house trading websites were actively attracting new user accounts. On these sites, people looking to move are able to browse housing options based on a number of factors. The sites let you control for price range, number of bedrooms and bathrooms, and location, among other things.
As a house trading site user, you’d be obligated to set up an account with the specifics about your own home so potential buyers could browse your listing.
The speed is what really counts
One of the great advantages to this system of online dating for houses is the speed in which transactions can take place. Since you can shop for your ideal home by simply logging on to your computer, you eliminate a lot of the legwork involved in finding a home.
Similarly, because house trading gives you the opportunity to both buy and sell a home at the same time, you’re not caught in the waiting game. Waiting, in other words, for your house to sell once you’ve found a new one to buy.
Additional hidden savings
Because of the simplicity house trading offers, it’s relatively simple to forego the fees associated with a real estate agent. While it’s never a bad idea to have an agent walk you through the buying and selling process, it’s less necessary in house trading because the majority of the legwork is already complete.
If you do want to use a real estate agent for your house trading transaction, consider asking him or her to make the transaction for a smaller percentage than he or she usually charges. This is a fair request, considering the agent won’t have to spend nights and weekends touring possible homes for sale with you and will be able to forego hosting an open house to sell your current home.
On top of that, analysts report that people who take advantage of house trading sites are more likely to land close to their asking price when they do close a home sale. This makes home trading a great way to hold on to existing equity – even in a down market.
But will it last?
The house trading craze is clearly an effect of the down housing market, so the question that comes to many peoples’ minds is whether it will last. Some experts predict that it won’t, simply because of the limitations house trading offers – after all, you only get to choose from the houses listed rather than the entire “for sale” pool in the city of your choice. Still, given the ease and satisfaction reported by users…it just might be a trend that’s here to stay.
