How home swapping can save you an average of £1,065 on a week’s holiday

As we make our way out of lockdown restrictions, holiday travel is once again a possibility. But due to issues with supply and demand, many Brits are finding that holiday costs are spiralling. What if there was a way to save an average of £1,065 on a week’s holiday and up to £4,260 per year? This is possible thanks to home swapping, an innovative and rapidly growing alternative holiday accommodation option.

Here is everything you need to know.

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What is home swapping?

Home swapping, as the name suggests, is basically where people live in each other’s homes for a set period of time with no money changing hands. It’s essentially a way of travelling with little to none of the stress or resources required for actual travel.

And thanks to the internet and technology, home swapping is now easier than ever. Countless websites have sprung up to assist those interested in home swapping.

Love Home Swap is currently one of the most popular. It’s a home swapping platform that brings together people from all over the world who want to swap homes.

With the average member travelling four times per year, Love Home Swap claims that it’s possible to save at least £4,260 per year on holiday accommodation, or an average of £1,065 per swap.

No money changes hands between the participants. Basically, you save money by not having to pay for accommodation and eating out while on holiday because you can cook in the hosts’ kitchen. Furthermore, there is a greater likelihood of getting more spacious and comfortable accommodation. You’ll also have access to all of the home’s contents, whether it’s a library, a pool or a gym, that you can enjoy privately.

Aside from the cost savings, another advantage of a home swap is that you can find the type of accommodation that best suits your needs. It could be a pet-friendly home with all the necessities. Or it might be a space that has plenty to keep the kids occupied so that you don’t have to take entertainment with you on your holiday.

It’s also a great way to get out of your comfort zone and try something new.

How do I organise a home swap?

To organise a home swap, simply visit the Love Home Swap website. You will be able to find thousands of properties available for swapping all over the world.

According to the platform, new members can sign up for a two-week free trial. During the free trial, they will have full access to the site. When the trial period expires, there are a variety of membership options available. These range from £10 per month to no more than £144 per year.

There is the Classic Swap plan, for example, where you directly swap houses with someone else at the same time or on a different date.

Or you can opt for Points Swap, which allows you to travel without the need to match your plans with another member. You earn points for hosting, which you can then spend on another home when you finally decide to travel. You’ll just have to pay a small service fee based on the length of your trip.

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Are there downsides to home swapping?

Home swapping is not without its drawbacks.

Unlike hotels, where different options may be available at the time you want to travel, finding someone who is willing to swap homes at the same time as you and in the specific place you want may be more difficult.

Additionally, something unexpected may occur, causing the host to cancel at the last minute. You may be left scrambling for last-minute hotel reservations, which may prove to be very costly.

Some people are also simply not comfortable with the prospect of a complete stranger living in their home. Naturally, there is always the risk of theft or property damage when swapping homes.

This is why it’s a good idea to use a reputable site like Love Home Swap when you are swapping. It’s also useful to talk with the homeowners you are swapping with several times before the actual swap. This can help you get a real sense of who you’re dealing with.

An appropriate home insurance policy is also worth having in this situation. Depending on your cover, it can protect you and provide some peace of mind in the event of damage or theft.

The post How home swapping can save you an average of £1,065 on a week’s holiday appeared first on The Motley Fool UK.

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