Midwest Canada Minute - March 15, 2009

By
Real Estate Agent with RE/MAX of Lloydminster

Home Swapping and Other Matches

Home swapping for several week vacations has become a major enterprise world wide.  Here's how it works - your house in western Canada is in an attractive location to someone in southern Germany or Australia; you have always wanted to visit that part of the world; and they want to experience this lifestyle.  You exchange keys, maybe even vehicles at the airports, and off both parties go for an affordable vacation.

You own a cabin or serviced lot at the lake that your family actually only uses for about 15 days per year and the annual costs are getting higher.  Three other couples are interested in a quarter share each, with each owner getting 13 weeks of use equitably distributed throughout all four seasons.  It works in Maui, why not Turtle Lake?

Your two sections of pasture are heavily treed and are only utilized by cows from late May to mid September.  There is one spot that overlooks a river; a place where you bring the grandchildren for a wiener roast in the summertime.  It would make a great deer camp for city based hunters; they offer to rent the land from you once the cattle are out.

The family is outgrowing that nice little condominium you bought when first married and need more space.  Across town, an empty nester couple is looking to downsize, and do some traveling in the winter.  They take your property on trade; no waiting for either property to sell on the open market.

That acreage you slaved over 25 years to create from a bare field to a show place has now become too much to handle; in fact, your health is at risk if you keep at it too much longer.  There is a young couple in the city who really wants to raise their children in the country; they fall in love with what they see.  Their townhouse is only several years old, and is located in a decent neighbourhood.  The extra cash doesn't hurt your pension fund either.

It has been a hard seven years spent enriching your business.  You just got to the point where you felt there was some breathing space when the economy started to slow down.  There is substantial equity in the building you own, but right now you need operating capital.  An investor makes you a fair offer for the building, and agrees to lease it back for five years with option to renew for two further terms.  Now you have the resources to increase market share while your competition flounders. Maybe things aren't so bad after all.

It comes down to being open to new perspectives.  Sometimes the solutions are right in front of us.

Vern McClelland is an associate broker with RE/MAX of Lloydminster.  For more helpful hints on buying or selling real estate visit www.vernmcclelland.com

 

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Rainmaker
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Kent Simpson
Real Estate Is About People
Tierra Antigua Realty - Downtown

Vern - I've been hearing a lot more about home swapping lately...even websites where people can register & swap by themselves (a risky proposition, but there nonetheless).  The equity swaps are starting to grow as the banking industry continues to flounder in its purpose.  Good post!

April 06, 2009 11:41 PM
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Vern McClelland

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