How to Cut Your Travel Costs – Home Exchange

Bar none, the question we’re asked the most is “How do you afford to travel so much?” And it’s a fair question.

While we’ve become really good at how to save for a round the world trip, one of the best ways we’ve found to make travel less expensive is to cut our accommodation costs.

Central Park New York by Anthony Quintano on Flickr

Central Park New York by Anthony Quintano on Flickr

In the past few years, we’ve traveled when our rental leases were over, and stored all of our belongings in a storage locker while we explored the world. While giving up our house did free up a lot of money, it’s a huge hassle to pack up everything when we go on a trip and find a new place when we return.

So like before, we’re looking into keeping a home base to return to after we travel.

But having a home base brings some other problems. We’d need to continue paying our bills or our mortgage and find someone to take care of the place when we’re gone. We’d also have to pay for a place to stay while we were on the road. Hotels can get extremely expensive for long stays, and even renting apartments can add up. Especially when you add up the added expenses of maintaining two places.

How can you cut travel costs when you own a home, or what do you do when you  have a rental that you don’t want to give up?

One of the options we’re looking into is a home exchange. A home exchange would let us trade some time in our house for a chance to stay somewhere else.

We’ve been spending a bit of time checking out various home exchange sites. There’s a saying that goes “travelers should spend their money on the experience of travel, not on accommodations”. Works for us.

Panaorma of Central Park by Steve Jurvetson on Flickr

Panorama of Central Park by Steve Jurvetson on Flickr

Home exchange sounds like an especially great solution around the holidays, when hotel costs skyrocket.

Here’s an example. I’ve always wanted to see the ball drop in Times Square on New Years Eve. A modest mid range hotel in New York near Times Square on New Year’s Eve starts at around $300 a night. Yikes!

As a traveling family, we love to stay in houses when we travel instead of a hotel. A real home gives us a place to cook, a proper, private bedroom, and a place to do laundry. But renting an apartment over New Year’s near Times Square would be ridiculously expensive.

A home exchange would be a great way to cut that cost to zero. Here’s an example of one of the places we found, a sun drenched penthouse in midtown Manhattan. It would make a pretty amazing base for New Years in New York.

Sun drenched penthouse in midtown Manhattan

How does a home exchange work?

According to most sites, setting up a home exchange is actually a pretty simple process.

  1. List your space (depending on the site it can be free or there could be a monthly or yearly fee to join).
  2. Look at other listings (you can even specify if you’re traveling with kids).
  3. Send offers through secure messaging.
  4. Agree to exchange dates and details.

Is it secure?

It depends on the site you book with. Some places addresses are confirmed through credit card verification, and users can verify their email and phone number. You can also check out past reviews, and request additional references. In addition, an exchange agreement is electronically signed by both parties.

Cool Feature: Some sites allow non-simultaneous exchanges. A traditional (simultaneous) exchange is when you exchange homes at the same time. A non-simultaneous exchange is when hosts exchange homes at different times.

If New York isn’t your thing, we found some great looking home exchanges along the West Coast, too.

Here’s a one bedroom in San Francisco that’s a stone’s throw from great sights like Chinatown, the California cable car and Polk street.

Frescape San Francisco One Bedroom

For those with a smaller space to exchange, there’s a cozy room only a few blocks away from Golden Gate Park.

Frescape room Golden Gate Park

13 Responses

  1. Lyly

    Thank you for the tips! I just took my first vacation and now that I can afford to go on more trips, will definitely be considering this to cut back on my travel costs!

  2. Deia @ Nomad Wallet

    Nice intro to home exchange! I once interviewed a lady who has done 54 home exchanges and it has saved her lots of money over the years. I don’t have a home to swap, so this is not an option for me, though. I stick with house-sitting instead and AirBnB. 🙂

  3. Elisebet F

    I’ve heard of this website before but never known anyone who actually did a home swap. I’d be interested in hearing about your experience if you ever do it!

  4. Nicole @ Caribbean Travel Blog

    This is such a great idea for traveling. We do something similar, housesitting, and its such a great way to see the world for less. Living like a local is always the best way to experience any new country!

  5. Kerry Ascione

    I am all for international home exchange. You are correct, it is incredible. My family has exchanged our home five times in the last six years. Just be careful, you need to do more than a quick identity/address check. You need to get to know your exchange partner to see if you trust them before you agree to exchange with them. Here’s a good quote “Trust, but Verify” Ronald Reagan

  6. Lois @ Home Base Holidays

    Great article about home exchange but the links don’t work so the agency may no longer exist. The internet has enabled many new home swap services to set up easily but many find that actually running a good service and providing a range of genuine, up-to-date exchange offers is not so easy so, with some exceptions, many start-ups fizzle out within a few months.

    As you don’t want the agency you join to disappear when you are in the middle of arranging a home swap, take care in choosing the service(s) to join that suit your needs and offer a good choice of paid membership listings (with expired listings not showing).

    Our site, based in London, has been operating a home exchange service for 30 years.

    • Charles Kosman

      Thanks for the tip about the links Lois. They’ve all been stripped. There are so many startups these days it’s hard to know who will succeed and who will fail.

      Nice to know you’ve guys have been around for a while.

  7. Bowral

    this is awesome!! great idea and this will definitely go in my travel book!! thanks!!


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