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 of time. Since no monetary exchange takes place, it is a form of barter, collaborative consumption, and sharing. Home exchange can cover any type of residence including apartments, houses, holiday cottages, boats, or recreational vehicles. 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. The swap can be simultaneous or non simultaneous. Home exchanges are usually arranged via specific types of social networking services, most of which charge a fee.^[1][2]

Like all homestays, home exchanges offer several advantages over hotel lodging, including a lower cost and opportunities for cultural diplomacy and friendship.^[3][4][5][6]

Some networks offer the ability to collect a security deposit.^[7]

Summer is traditionally the peak season for house swapping, as families travel during school breaks.^[4]

History

Organized home exchange originated in 1953 with the creation of Intervac International by a group of European teachers looking to travel internationally economically during their summer breaks.^[8] That same year, teacher David Ostroff created a home exchange network called "Vacation Exchange Club" (now HomeLink) in New York City.^[9]

In 1992, Ed Kushins started what is now HomeExchange.com after a home exchange experience in Washington D.C. In 1995, he moved the business to the internet.^[10][11][12]

In 1999, home exchange was estimated to be growing at 15-20% per year.^[13] In 2010, home exchange networks were continuing to experience rapid growth.^[14]

Academic research

Home exchange has been a subject of sociological studies, geographical and tourism studies, culture studies and peace studies. In 2008 it became also the subject of information and information security studies.^[15]

Information studies

The 2008 study by Julia Maria Koszewska explored "the role of information in modern society, particularly onaccess to information and information management as prerequisites for participative and democratic society".^[15] This was done by study of history of home exchange movement and its initiatives, websites, and functionality expressed by users experiences shared with the researcher.

Participant demographics

Participants tend to be well-educated and well-traveled. Home exchanges are popular with teachers during school holidays, particularly during the summer,^[16] and with senior citizens, who have more time to travel.^[17]

A 2013 study by the University of Bergamo showed that participants were more skewed to higher age groups, with 28.3% aged 45–54, 18.7% 65+ and only 5.9% under age 34.^[18] The study showed that 84.3% of respondents seek out museums and nature, 67% value environmentally-friendly tourism, and 98% express interest in cultural heritage. Fair trade food (63%) and organic food (73%) are also important.^[18] The study noted the strong degree of trust necessary in collaborative consumption, with 75% agreeing that most people are trustworthy. 93% were satisfied with their experience, with 81% having swapped homes more than once.^[18]

Companies

Home exchange services encompass various brands facilitating the exchange of residential properties for temporary stays. Several prominent companies operate in this domain:

Homeexchange.com

Homeexchange.com stands as the largest global service of its kind, boasting a substantial network of over 450,000 homes worldwide. Established in the 1990s, this platform requires an annual fee of $175 for its services.^[19]

Kindred

Launched recently, Kindred employs a distinctive "give and get" model. Members, whether homeowners or renters, both host and become guests, earning nights in other members' homes for each night they accommodate guests.^[20]

ThirdHome

Notably, ThirdHome distinguishes itself as an upscale home exchange community exclusive to second-home owners.^[21] Unlike other services such as Homeexchange.com and Kindred, which admit primary residences, ThirdHome's membership is restricted to individuals with secondary residences.^[22]

ThirdHome, in operation for over a decade, boasts a membership exceeding 16,000 with properties located in more than 100 countries. This platform also sets itself apart by establishing partnerships with resort and residence club brands, providing unique opportunities for its members.^[23]

Popular culture

Home exchange was the subject of the 2006 romantic comedy The Holiday, directed by Nancy Meyers and starring Kate Winslet, Cameron Diaz, Jack Black and Jude Law.^[24]

Permanent home exchange

There are several situations in which people have exchanged homes permanently:

• During the subprime mortgage crisis, home exchange was used to help buyers and sellers when financing was harder to obtain.^{[25][26][27][28]}
• Mutual exchange is a mechanism for tenants of public housing in the United Kingdom to swap their homes.^[29]
• During ethnic conflicts, such as in Iraq in 2006, members of ethnic minorities have swapped homes with friends who are members of different ethnic minorities in a different neighborhood. The goal is that each minority resident ends up in a neighborhood where their ethnicity is in the majority, thus reducing violence.^[30]