Homeowners could save £65,000 by exchanging their home
Property owners could save £65,200 on holidays over a 20-year period through exchanging their home, according to Love Home Swap.
Data from Love Home Swap also revealed that 84% of British homeowners have not released the ‘holiday equity’ from their home by joining a home swapping members site.
The report titled ‘Home Swapping: The Future of Travel’ also outlined that 20% of respondents believe this would a cost-effective way to explore a new area without paying for accommodation.
In addition 15% think it would be intriguing to stay in someone else’s home, 13% say it would be an exciting way to try somewhere completely different, and 9% say it would be a nice way to build a relationship with others.
The annual report also detailed that businesses have seen a 25% increase in the number of swaps being agreed between members since 2015.
Célia Pronto, managing director of Love Home Swap, said: “So many people spend a lot of money on their homes.
“From saving up for an initial deposit and paying mortgage repayments, through to the cost of renovations and decorating, there’s often the aim of making money on your property whenever you sell it.
“But something that people don’t always think about is how they can get the most value from their homes while actually living there.
“When Love Home Swap was set up in 2011, the world was a very different place.
“We’ve always wanted people to enjoy experiences, not just holidays.
“Members of home swapping sites aren’t just swapping homes; to some extent, they’re swapping lives too.”