House swapping is hot right now – Do it the right way
Want to try out a new city or travel over the long term for cheap? You need to know about home swapping. There are dozens of home-swapping groups on Facebook for everyone from women over 50 to vegans who like baseball. But it’s not for everyone, and you have to do your homework.
Swap smart
My advice: Eat the fee the first time and use a third-party site to see if home swapping is for you. (I’ve got options and costs below.) You can try it by yourself to avoid fees, but be sure to do your due diligence and create an agreement.
🚩 Secrecy is the biggest red flag. If the other party refuses to video-chat on a platform like FaceTime or sign a formal agreement, move on. Ask about security systems and anyone else who has access to the property while you’re staying there, too.
What about your home?
If you’re a renter, check your rental agreement for restrictions and rules around subletting. And if you own your home and still owe on your mortgage, see if your loan agreement lets you rent your place.
Take precautions. Have a plan in place for unexpected maintenance problems and a local contact for your swapper to reach out to about plumbing issues, TVs or pests.
Lock any closets and rooms off-limits to guests, and store all your valuables in a portable safe (this one’s $19).
Insurance is part of this convo, too. Ask if your renter’s or homeowner’s policy extends to anyone you swap homes with. You may need additional coverage.
🦺 Guardhog and Pikl specialize in insurance just for home sharing. Who knew?
Arrivederci, beaches
When you’re getting started with home swapping, going through a vetted third-party website is your safest bet. Here are a few to check out:
- HomeExchange rewards members with loyalty points for each year they renew. A subscription costs $220 a year.
- HomeLink has been around for over 70 years. Memberships start at $115 monthly, and you can get a 30-day free trial.
- ThirdHome has a network of luxury residences in over 100 countries for folks who already have primary and secondary homes. You have to apply to become a vetted member. Fancy!
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Tags: Facebook, FaceTime, home, house, insurance, issues, movie, network, restrictions, security, social media, travel, video, website
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