Berliner Boersenzeitung - Jason Bream Buys £475,000 Home Using Inheritance and Part-Exchange Scheme

Jason Bream, an office manager from West Sussex, has purchased a £475,000 three-bedroom detached new-build home, a move he attributes to financial support received after his father’s death. The acquisition allows Bream and his family to transition from a cramped one-bedroom flat into a property with dedicated space for dining, working, and sleeping.

Bream, 43, originally purchased the one-bedroom flat in 2010 for £100,000. He lived there alone until 2012, when he met his wife, Sarah, 41, a teaching assistant, who moved in shortly after. Their daughter, Isabella, was born in 2013. As the family grew, the limitations of the flat became apparent. Bream noted that while Isabella had her own bedroom, he and Sarah slept in the living room, resulting in a lack of privacy where one partner’s television viewing would disturb the other’s sleep.

Bream’s father, Clifford, who died in 2021 at the age of 68, had long expressed a desire for his son to move into a larger home. Following Clifford’s death, Bream inherited half of his father’s two-bedroom bungalow in Selsey, West Sussex, while his sister inherited the other half. To consolidate ownership, Bream sold his original flat for £135,000 and used those proceeds to buy out his sister’s share of the bungalow.

Although the family was grateful to live in the bungalow, its layout eventually proved insufficient. As Isabella grew older, accessing her bedroom required passing through Bream and Sarah’s sleeping area. The property also lacked a dedicated dining room or office space, and the garden was described as small.

Late last year, the couple began searching for a new home. They viewed properties in Selsey but found the layouts unsuitable. A visit to their sister’s new-build home clarified their requirements, specifically the need for a dining room. Bream had frequently driven past the Dandara Hawthorn Grove development in North Mundham on his way to work and decided to investigate the site.

The couple purchased a three-bedroom detached house on the site for £475,000. To finance the purchase, they utilized a savings pot of approximately £60,000 accumulated by the end of 2025, along with an inheritance of around £12,000 from his late father. Due to concerns about affordability and market uncertainty, they opted for a part-exchange scheme.

Under this arrangement, the housebuilder purchased Bream’s bungalow for £171,000 in 2025. This allowed the couple to bypass the traditional selling process, which can be lengthy and uncertain. Bream acknowledged that while he might have achieved a higher price on the open market, the part-exchange scheme provided certainty and reduced stress by guaranteeing the sale of his current home.

The family spent nine months waiting for the new-build to be completed before moving in. The new property features a large garden, a garage, and significantly more space than their previous residences. Bream stated that he believes his father would have been proud of the family’s achievement and expressed gratitude for the inheritance that made the purchase possible.

Richard Wisnia, head of new build development at Switalskis Solicitors, explained that part-exchange schemes are increasingly utilized by housebuilders in quieter secondary markets to generate sales and maintain cash flow. He noted that these arrangements mitigate the risk of chain collapses, a significant anxiety for home movers. However, Wisnia cautioned that developers aim to resell part-exchanged properties quickly due to limits on how many such properties they can hold. Consequently, the price offered is often calculated based on a formula designed for a rapid sale and may not reflect the full market value achievable through private sale.

(A.Lehmann--BBZ)