What is Home Exchange?
According to Wikipedia, “Home exchange, also known as “house swapping”, is a form of lodging in which two parties agree to offer each other homestays for a set period. It can include an exchange of the entire home or just a room. The length of the swap can vary from a weekend to over a year.”
More recently, home exchange has become a valuable tool for homeowners to leverage their vacation property for world travel. Direct exchanges were the first type to gain popularity, in which one property owner directly swapped their home with another during the same period. While a great way to see new sites with the comforts of home, direct exchanges don’t allow for flexibility of location or time frame. Out of the need for more options and not having to rely on other’s schedules, reciprocal home exchange was created.
A reciprocal home exchange means both owners receive the same value for their exchange. Additionally, indirect home exchange means homeowners do not have to exchange homes simultaneously. This eliminates the need to compare schedules and utilize a credit system. Homeowners use credits to “cash in” for stays on a particular marketplace. This is how THIRDHOME is structured, creating a trusted club environment. By combining indirect and reciprocal exchange, homeowners have the peace of mind that they receive the same value as the guests they host and allows maximum flexibility.
A Way to Leverage your Investment with Home Exchange
Home exchange offers immense value. Why pay high nightly rental rates for incredible accommodations if you can leverage unused time in your second home for a nominal exchange fee? You can also extend the hospitality and invite friends and family to join a home stay versus a traditional hotel stay.
Enjoy the Comforts of Home When you Travel
Home exchange is an excellent option if you prefer the comforts that come with staying in a single-family home. A home stay offers an air of privacy that you cannot find with traditional travel accommodations, such as hotels. Many times, travelers don’t want to share common spaces like a lobby, pool, outdoor living. You can be assured that the homes you visit in the THIRDHOME portfolio are equipped with all the creature comforts you have become accustomed to when staying in your own vacation home
Visit New Destinations and Live Like a Local
Staying in a host’s private residence means access to their wealth of knowledge about that community. Live like a local and enjoy an insider scoop on the locals’ best-kept-secrets, must-do activities, where to eat, shop, or visit. Focus on the memories you can create when you can become immersed in your new home away from home.
An Elevated Experience
Reciprocal home stays can offer a level of trust that you can’t always rely on through a rental program, where technically anyone can have access to your home. As a member of a private vacation exchange, like THIRDHOME, every member has skin in the game, and you can trust that whoever stays in your home will treat it as they would their own. THIRDHOME has added another layer of trust through its robust, two-sided review system that keeps everyone accountable. Not only does the guest review their stay, but the host provides a review of the guest.
Luxury-Only Home Exchange
Unlike other home exchange programs, THIRDHOME was explicitly designed to facilitate reciprocal luxury property exchanges and requires specific membership criteria. The average home value is $2.4M, and at a minimum, the home value must be $500,000. It is never with a member’s primary residence but instead involves exchanging a single-family home, luxury condominium, investment property, or fractional resort property. Homes must be in desirable areas, with fine appointments, furnishings, and amenities.
Click here to see what our current members have to say about their trip with THIRDHOME. If this sounds like something you’d like to be a part of and you’re ready to learn more about using your second home to travel to a THIRDHOME, let’s talk! Because we want to ensure that our program is a mutual fit, there’s no pressure to commit.