Let’s start off with the #1 benefit of home exchanging… saving you money! As mentioned in previous blogs, the price of your accommodation can likely represent the largest part of your travel budget.
With home exchanging, the cost of your accommodation is ‘paid’ by the person who is staying in your home. Depending on the type and size of the home you book for your vacation and the type and size of your home that you are renting out to a guest, the cost of your accommodation can either be eliminated or significantly reduced.
To illustrate this, let’s look at an example of you staying in a one bedroom apartment in Barcelona for $150/night and for the identical time, another traveller stays in your home for $180/night. Not only is your accommodation free, you have now profited $30/night that can be applied to another part of your vacation cost.
But let’s assume that you don’t rent out you home. Will you still save money in a vacation rental? The answer is yes! The finding of a study conducted by VRBO, a home exchange agency, has determined that the cost of a vacation rental is significantly less than the cost of a hotel room. The example used is the average cost of a hotel room in New York City at $350/night, while the average nightly rate for a vacation rental in the same city listed on the agency’s website is $220/night. That’s a $130/night savings. And for a week long stay, you have saved $910.
Of course, there are numerous vacation rentals available that are highly luxurious and therefore expensive… just as there are luxurious and expensive hotel suites. But when you compare an average vacation rental’s nightly room rate to that of a similar hotel’s room rate, a vacation rental is more economical. And that’s not all… it offers more space (allowing for families and small groups to split the cost), privacy and amenities that are not available in a standard hotel/hotel room.
I hope this clarifies this misconception… Vacation rentals truly do offer great value!