Function

• House swapping or house trading refers to the practice of switching houses on a temporary or permanent basis. For vacationers, house swapping provides an inexpensive way to reside in a location for a certain period of time. While there are numerous benefits to swapping homes, most homeowners do it strictly to save money while vacationing. In most scenarios, the owners swap houses at the same time for an agreed upon period of time. Traditionally, only homes, condos and apartments have been swapped, but over time, yacht and RV exchanges have also become popular.
  
  

Benefits

• According to estimates, families can save approximately $5,000 on a single vacation just by swapping houses. Plus, they receive the added benefit of staying in a comfortable home rather than an impersonal hotel. For vacationers on a budget, house swapping benefits are ideal. No pricey hotel costs. No pricey restaurant costs. And usually, no car rental costs. Furthermore, it provides opportunities to meet locals and experience the local culture in a way most vacationers are not able to.
  
  

History

• Originating in the 1950s as a low-cost vacation alternative, house swapping continues today as a popular way to vacation on a budget. While families utilized house swapping in the 1950s, it did not rise to prominence as a viable vacation alternative until the 1970s. With the real estate market slowing down, vacationers saw house swapping as a valuable vacation resource.
  
  Movies like "The Holiday" have revived interest in vacationers finding home-away-from-home accommodations. Recently, with a weakened economy causing tightened budgets, vacation goers are forced to seek alternative, cost-effective ways to vacation. House swapping provides the perfect alternative.
  
  

Time Frame

• When staying within the country, most house swaps last for about 1 to 2 weeks. International house exchanges generally last 1 to 3 weeks, but the time frame depends completely upon the homeowners' agreement. Local home exchanges are also becoming popular for weekend getaways.
  
  

Types

• Originally, vacationers were the only people to utilize house swapping. However, due to a decline in the housing market, permanent house swaps are gaining in popularity. In the US market, house swapping has evolved. With homes remaining on the market almost indefinitely, more buyers and sellers are swapping houses on a permanent basis instead of simply for vacation purposes. According to industry estimates, over 16,000 US home owners have permanently swapped houses.
  
  

Considerations

• While swapping houses allows for thousands in saved vacation money, it also opens up the possibility for theft and malicious vandalism or arriving at a vacant lot instead of a home. House swapping veterans caution anyone using this accommodation alternative to lock away all valuables, check with insurance to make sure exchange partners are covered and to exchange all important information such as passport information and insurance policies beforehand.
  
  If swapping homes on a permanent basis, refrain from getting involved with someone who owes more than the house is worth and understand that you may not get the exact property you want. In this case, you may have to settle for something less.
  
  House swapping provides a great vacation accommodation alternative as well as a solution for home owners who are having difficulty selling their home. Before swapping houses, either temporarily or permanently, make sure to exchange all important information and be cautious of scams.