In the current property market where finances are tight and credit is at an all time low people have used their initiative to think outside the box and have come up with new ways to move location and change house regardless of the recession.
One such idea that is being explored is the idea of house swapping. One of the difficulties in the current market is the uncertainty about selling or buying; swapping homes makes increasing sense in this market because mortgages can be so difficult to secure and also because existing homeowners are having difficulty selling in the current quiet market. A house swap allows for young families who want to move to a larger house in town or the country to trade with an older couple looking for a more manageable property and with the new changes in stamp-duty from the last budget the savings for both parties in a swap are considerable compared to those that applied this time last year.
Another idea being trialed by Gerard Kelly, a County Roscommon businessman is offering a landmark building in his hometown of Boyle rent-free. He reckons too many shops have closed down and in a bid to create employment and business, he’s offering potential retailers free rent for one year at his premises, the former Rockingham Arms pub. Should he find a suitable tenant, he promises second-year rent will not be more than €100 a week.
Have you say:
- House Swaps & Free Rent: A sign of things to come?
- Are house swaps and free rent leases innovative ideas?
- Would free rent leases help improve and contribute to local communities?